NBC Securities Inc. Acquires 13,674 Shares of Valaris Limited (NYSE:VAL)

NBC Securities Inc. raised its holdings in Valaris Limited (NYSE:VAL - Free Report) by 124,309.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,685 shares of the company's stock after purchasing an additional 13,674 shares during the period. NBC Securities Inc.'s holdings in Valaris were worth $537,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Blue Trust Inc. boosted its holdings in Valaris by 41.0% in the 4th quarter. Blue Trust Inc. now owns 1,758 shares of the company's stock worth $78,000 after buying an additional 511 shares during the period. KBC Group NV lifted its position in shares of Valaris by 63.3% during the fourth quarter. KBC Group NV now owns 2,929 shares of the company's stock worth $130,000 after acquiring an additional 1,135 shares in the last quarter. Spire Wealth Management boosted its holdings in shares of Valaris by 24.3% in the fourth quarter. Spire Wealth Management now owns 4,206 shares of the company's stock worth $186,000 after acquiring an additional 821 shares during the period. Jennison Associates LLC grew its position in shares of Valaris by 27.3% in the fourth quarter. Jennison Associates LLC now owns 20,641 shares of the company's stock valued at $913,000 after purchasing an additional 4,422 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Valaris during the 4th quarter valued at $243,000. Institutional investors own 96.74% of the company's stock.

Valaris Price Performance

Shares of VAL stock traded up $2.04 during trading on Monday, hitting $43.65. The company had a trading volume of 2,365,790 shares, compared to its average volume of 1,587,670. The stock's 50-day moving average is $35.18 and its two-hundred day moving average is $40.45. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 8.49 and a beta of 1.13. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48. Valaris Limited has a 52 week low of $27.15 and a 52 week high of $84.20.

Valaris (NYSE:VAL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.53) EPS for the quarter, missing analysts' consensus estimates of $1.10 by ($1.63). Valaris had a return on equity of 17.40% and a net margin of 15.81%. The company had revenue of $620.70 million during the quarter, compared to the consensus estimate of $582.87 million. Valaris's revenue for the quarter was up 6.2% on a year-over-year basis. As a group, analysts predict that Valaris Limited will post 3.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on VAL. Citigroup cut their target price on Valaris from $48.00 to $44.00 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Evercore ISI cut their price objective on shares of Valaris from $55.00 to $50.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Wall Street Zen raised shares of Valaris to a "sell" rating in a report on Tuesday, May 13th. Susquehanna lowered their target price on shares of Valaris from $47.00 to $34.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Barclays raised their price target on shares of Valaris from $35.00 to $37.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $49.17.

About Valaris

Valaris Limited, together with its subsidiaries, provides offshore contract drilling services Gulf of Mexico, South America, North Sea, the Middle East, Africa, and the Asia Pacific. The company operates through four segments: Floaters, Jackups, ARO, and Other. It owns an offshore drilling rig fleet, which include drillships, dynamically positioned semisubmersible rigs, moored semisubmersible rig, and jackup rigs.