Vanguard Group Inc. Trims Holdings in Valaris Limited $VAL

Key Points

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Vanguard Group Inc. trimmed its holdings in shares of Valaris Limited (NYSE:VAL - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,404,674 shares of the company's stock after selling 49,485 shares during the quarter. Vanguard Group Inc. owned about 9.02% of Valaris worth $251,448,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lowe Wealth Advisors LLC purchased a new position in shares of Valaris during the 1st quarter worth approximately $28,000. Quarry LP grew its stake in shares of Valaris by 51.7% during the 4th quarter. Quarry LP now owns 684 shares of the company's stock valued at $30,000 after purchasing an additional 233 shares during the period. Sterling Capital Management LLC raised its stake in Valaris by 518.3% during the 4th quarter. Sterling Capital Management LLC now owns 742 shares of the company's stock worth $33,000 after acquiring an additional 622 shares during the period. UMB Bank n.a. bought a new position in shares of Valaris in the first quarter worth approximately $44,000. Finally, GAMMA Investing LLC increased its stake in shares of Valaris by 1,027.5% in the first quarter. GAMMA Investing LLC now owns 1,353 shares of the company's stock worth $53,000 after purchasing an additional 1,233 shares in the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup reissued a "neutral" rating and set a $50.00 price objective (up previously from $47.00) on shares of Valaris in a report on Thursday, July 10th. Fearnley Fonds cut Valaris from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Wall Street Zen upgraded Valaris to a "sell" rating in a research note on Tuesday, May 13th. Susquehanna increased their price target on Valaris from $46.00 to $52.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Finally, BTIG Research restated a "buy" rating on shares of Valaris in a research note on Monday, July 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $46.20.

Valaris Stock Up 1.6%

Shares of VAL stock opened at $45.94 on Tuesday. The stock has a 50 day moving average of $46.63 and a 200 day moving average of $40.87. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.46. The stock has a market cap of $3.27 billion, a P/E ratio of 11.96 and a beta of 1.17. Valaris Limited has a twelve month low of $27.15 and a twelve month high of $65.68.

Valaris (NYSE:VAL - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.45. The business had revenue of $615.20 million for the quarter, compared to the consensus estimate of $582.70 million. Valaris had a return on equity of 12.36% and a net margin of 11.18%. The business's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $2.03 earnings per share. As a group, sell-side analysts expect that Valaris Limited will post 3.96 EPS for the current year.

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.

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