Wellington Management Group LLP Sells 500,059 Shares of Valaris Limited (NYSE:VAL)

Wellington Management Group LLP reduced its position in Valaris Limited (NYSE:VAL - Free Report) by 34.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 945,508 shares of the company's stock after selling 500,059 shares during the period. Wellington Management Group LLP owned approximately 1.33% of Valaris worth $41,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of VAL. Hara Capital LLC grew its stake in shares of Valaris by 65.1% during the 4th quarter. Hara Capital LLC now owns 94,193 shares of the company's stock valued at $4,167,000 after purchasing an additional 37,158 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Valaris by 14.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 143,399 shares of the company's stock worth $6,344,000 after buying an additional 18,107 shares in the last quarter. Teza Capital Management LLC purchased a new position in shares of Valaris during the 4th quarter valued at about $923,000. Point72 Asset Management L.P. increased its holdings in Valaris by 376.7% in the 4th quarter. Point72 Asset Management L.P. now owns 96,023 shares of the company's stock worth $4,248,000 after acquiring an additional 130,723 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in Valaris by 38.4% during the 4th quarter. ProShare Advisors LLC now owns 20,430 shares of the company's stock worth $904,000 after acquiring an additional 5,665 shares during the period. Institutional investors own 96.74% of the company's stock.

Valaris Trading Up 5.8%

VAL stock traded up $2.24 during midday trading on Tuesday, reaching $40.91. 624,389 shares of the company traded hands, compared to its average volume of 1,563,810. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 7.96 and a beta of 1.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.61 and a current ratio of 1.59. The business has a 50 day moving average of $35.14 and a 200-day moving average of $40.64. 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 released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of $1.10 by ($1.63). Valaris had a net margin of 15.81% and a return on equity of 17.40%. The company had revenue of $620.70 million for the quarter, compared to analysts' expectations of $582.87 million. The business's revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts expect that Valaris Limited will post 3.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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