Fmr LLC Trims Stock Position in Valaris Limited (NYSE:VAL)

FMR LLC lessened its holdings in Valaris Limited (NYSE:VAL - Free Report) by 30.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,144,219 shares of the company's stock after selling 1,383,919 shares during the quarter. FMR LLC owned approximately 4.42% of Valaris worth $139,100,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of VAL. Arizona State Retirement System grew its position in shares of Valaris by 1.3% during the 4th quarter. Arizona State Retirement System now owns 19,002 shares of the company's stock worth $841,000 after buying an additional 237 shares in the last quarter. Xponance Inc. lifted its stake in Valaris by 5.5% in the fourth quarter. Xponance Inc. now owns 9,273 shares of the company's stock worth $410,000 after acquiring an additional 487 shares during the period. State of Michigan Retirement System grew its holdings in Valaris by 3.3% during the 4th quarter. State of Michigan Retirement System now owns 15,500 shares of the company's stock worth $686,000 after acquiring an additional 500 shares in the last quarter. Blue Trust Inc. increased its position in Valaris by 41.0% during the 4th quarter. Blue Trust Inc. now owns 1,758 shares of the company's stock valued at $78,000 after purchasing an additional 511 shares during the period. Finally, Orion Portfolio Solutions LLC raised its holdings in shares of Valaris by 3.5% in the 4th quarter. Orion Portfolio Solutions LLC now owns 16,622 shares of the company's stock valued at $735,000 after purchasing an additional 556 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company's stock.

Valaris Stock Up 6.0 %

NYSE:VAL traded up $1.80 during mid-day trading on Friday, hitting $31.90. 1,360,626 shares of the company's stock traded hands, compared to its average volume of 1,459,744. 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 company has a market capitalization of $2.27 billion, a P/E ratio of 6.21 and a beta of 1.06. The company has a fifty day moving average of $37.44 and a 200 day moving average of $44.19. Valaris Limited has a twelve month low of $27.15 and a twelve month high of $84.20.

Valaris (NYSE:VAL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.20 by $0.68. The firm had revenue of $584.40 million during the quarter, compared to analyst estimates of $578.01 million. Valaris had a net margin of 15.81% and a return on equity of 17.40%. On average, analysts forecast that Valaris Limited will post 3.96 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Evercore ISI downgraded shares of Valaris from an "outperform" rating to an "in-line" rating and dropped their price objective for the company from $87.00 to $59.00 in a research note on Wednesday, January 15th. Susquehanna dropped their target price on Valaris from $47.00 to $34.00 and set a "neutral" rating on the stock in a research report on Monday. Barclays reduced their price target on Valaris from $46.00 to $35.00 and set an "equal weight" rating for the company in a research report on Monday, April 7th. StockNews.com raised Valaris to a "sell" rating in a research report on Thursday, February 20th. Finally, Citigroup decreased their price target on shares of Valaris from $48.00 to $44.00 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $50.33.

Valaris Company Profile

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.