Lancaster Investment Management Invests $27.44 Million in Valaris Limited (NYSE:VAL)

Lancaster Investment Management bought a new position in shares of Valaris Limited (NYSE:VAL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 400,116 shares of the company's stock, valued at approximately $27,436,000. Valaris comprises 13.9% of Lancaster Investment Management's investment portfolio, making the stock its 4th biggest holding. Lancaster Investment Management owned approximately 0.55% of Valaris at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Fortis Capital Advisors LLC purchased a new stake in Valaris in the first quarter valued at approximately $26,000. Belpointe Asset Management LLC purchased a new stake in Valaris in the first quarter valued at approximately $27,000. Fifth Third Bancorp lifted its stake in Valaris by 120.1% in the third quarter. Fifth Third Bancorp now owns 394 shares of the company's stock valued at $30,000 after buying an additional 215 shares during the last quarter. Princeton Global Asset Management LLC purchased a new stake in Valaris in the third quarter valued at approximately $37,000. Finally, Covestor Ltd lifted its stake in Valaris by 184.0% in the third quarter. Covestor Ltd now owns 693 shares of the company's stock valued at $52,000 after buying an additional 449 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company's stock.

Valaris Trading Up 0.2 %

NYSE VAL traded up $0.13 during trading hours on Tuesday, hitting $72.75. 926,093 shares of the company's stock were exchanged, compared to its average volume of 927,293. The business's 50 day moving average is $68.19 and its 200-day moving average is $68.42. Valaris Limited has a 12-month low of $54.13 and a 12-month high of $78.92. The firm has a market capitalization of $5.27 billion, a P/E ratio of 6.22 and a beta of 1.13. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.71 and a current ratio of 1.71.

Valaris (NYSE:VAL - Get Free Report) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.32. The company had revenue of $483.80 million for the quarter, compared to the consensus estimate of $484.00 million. Valaris had a return on equity of 5.71% and a net margin of 48.50%. As a group, analysts anticipate that Valaris Limited will post 4.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on VAL shares. TheStreet upgraded Valaris from a "c" rating to a "b-" rating in a research note on Thursday, February 22nd. Evercore ISI lowered their target price on Valaris from $107.00 to $105.00 and set an "outperform" rating on the stock in a report on Friday, February 23rd. Barclays lowered their target price on Valaris from $105.00 to $102.00 and set an "overweight" rating on the stock in a report on Tuesday, March 5th. Finally, StockNews.com raised Valaris to a "sell" rating in a report on Friday, March 15th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $100.00.

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.