Hsbc Holdings PLC Buys New Position in Valaris Limited (NYSE:VAL)

Hsbc Holdings PLC acquired a new stake in Valaris Limited (NYSE:VAL - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 22,422 shares of the company's stock, valued at approximately $991,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VAL. Vanguard Group Inc. raised its position in Valaris by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,454,159 shares of the company's stock valued at $285,532,000 after purchasing an additional 23,509 shares during the last quarter. Lingotto Investment Management LLP raised its holdings in shares of Valaris by 2.5% in the fourth quarter. Lingotto Investment Management LLP now owns 3,637,207 shares of the company's stock valued at $160,910,000 after buying an additional 87,420 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Valaris by 55.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,300,577 shares of the company's stock worth $101,771,000 after buying an additional 821,304 shares during the period. Waverton Investment Management Ltd grew its holdings in shares of Valaris by 12.7% during the fourth quarter. Waverton Investment Management Ltd now owns 756,135 shares of the company's stock worth $33,451,000 after buying an additional 85,250 shares during the last quarter. Finally, Norges Bank acquired a new position in Valaris in the 4th quarter valued at about $31,949,000. Hedge funds and other institutional investors own 96.74% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on VAL shares. StockNews.com upgraded Valaris to a "sell" rating in a research note on Thursday, February 20th. Susquehanna dropped their price objective 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. Evercore ISI reduced their target price on shares of Valaris from $55.00 to $50.00 and set an "in-line" rating for the company in a research note on Friday. Barclays dropped their price target on shares of Valaris from $46.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Monday, April 7th. Finally, Citigroup reduced their price objective 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 issued a hold rating to the company. According to data from MarketBeat, Valaris presently has an average rating of "Hold" and an average target price of $48.83.

Valaris Stock Up 1.0 %

Shares of NYSE VAL opened at $35.92 on Friday. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average price of $35.02 and a 200 day moving average price of $42.52. Valaris Limited has a 52 week low of $27.15 and a 52 week high of $84.20. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 6.99 and a beta of 1.06.

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

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.

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