Kerrisdale Advisers LLC Raises Holdings in Valaris Limited (NYSE:VAL)

Kerrisdale Advisers LLC lifted its position in Valaris Limited (NYSE:VAL - Free Report) by 46.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,265 shares of the company's stock after purchasing an additional 32,160 shares during the quarter. Valaris comprises about 1.5% of Kerrisdale Advisers LLC's investment portfolio, making the stock its 17th biggest position. Kerrisdale Advisers LLC owned about 0.14% of Valaris worth $4,480,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in VAL. Price T Rowe Associates Inc. MD boosted its position in shares of Valaris by 10.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 43,659 shares of the company's stock valued at $1,932,000 after buying an additional 4,092 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Valaris during the fourth quarter valued at approximately $991,000. Wolf Hill Capital Management LP purchased a new position in shares of Valaris during the fourth quarter valued at approximately $13,139,000. Stifel Financial Corp purchased a new position in shares of Valaris during the fourth quarter valued at approximately $2,399,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Valaris by 91.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,111 shares of the company's stock valued at $447,000 after buying an additional 4,832 shares during the period. 96.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on VAL shares. Barclays lowered their price target on Valaris from $46.00 to $35.00 and set an "equal weight" rating for the company in a report on Monday, April 7th. Evercore ISI lowered Valaris from an "outperform" rating to an "in-line" rating and lowered their price target for the company from $87.00 to $59.00 in a report on Wednesday, January 15th. Citigroup lowered their price target on Valaris from $48.00 to $44.00 and set a "neutral" rating for the company in a report on Wednesday, March 19th. StockNews.com upgraded Valaris to a "sell" rating in a report on Thursday, February 20th. Finally, Susquehanna reduced their price objective on shares of Valaris from $47.00 to $34.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $50.33.

Valaris Stock Up 2.6 %

Shares of VAL stock traded up $0.86 during trading hours on Tuesday, reaching $33.51. 866,834 shares of the company's stock were exchanged, compared to its average volume of 1,945,460. The stock's 50 day moving average is $35.59 and its 200-day moving average is $42.93. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 6.52 and a beta of 1.06. The company has a current ratio of 1.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.48. Valaris Limited has a fifty-two week low of $27.15 and a fifty-two week 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.68. Valaris had a return on equity of 17.40% and a net margin of 15.81%. The firm had revenue of $584.40 million during the quarter, compared to analysts' expectations of $578.01 million. Analysts predict that Valaris Limited will post 3.96 earnings per share for the current fiscal year.

Valaris 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.