Raymond James Financial Inc. Acquires New Position in Valaris Limited (NYSE:VAL)

Raymond James Financial Inc. acquired a new position in shares of Valaris Limited (NYSE:VAL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 19,780 shares of the company's stock, valued at approximately $875,000.

Several other large investors also recently modified their holdings of VAL. Franklin Resources Inc. raised its position in shares of Valaris by 4.6% in the 3rd quarter. Franklin Resources Inc. now owns 37,429 shares of the company's stock valued at $1,956,000 after buying an additional 1,634 shares in the last quarter. City Center Advisors LLC bought a new stake in Valaris during the fourth quarter worth $319,000. Moody National Bank Trust Division acquired a new stake in shares of Valaris in the 4th quarter valued at $416,000. 180 Wealth Advisors LLC acquired a new stake in Valaris in the fourth quarter valued at about $409,000. Finally, Systrade AG boosted its stake in shares of Valaris by 100.0% in the 4th quarter. Systrade AG now owns 40,000 shares of the company's stock valued at $1,770,000 after purchasing an additional 20,000 shares in the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Susquehanna reduced their target price on shares of Valaris from $47.00 to $34.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Barclays increased their price target on Valaris from $35.00 to $37.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Citigroup lowered their target price on shares of Valaris from $48.00 to $44.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. Evercore ISI cut their price objective 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. Finally, StockNews.com raised Valaris to a "sell" rating in a report on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, Valaris presently has a consensus rating of "Hold" and a consensus target price of $49.17.

Valaris Stock Performance

Shares of NYSE:VAL traded up $0.85 during midday trading on Friday, reaching $38.32. 1,370,375 shares of the company traded hands, compared to its average volume of 1,523,561. The firm's fifty day moving average price is $35.18 and its two-hundred day moving average price is $42.09. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48. Valaris Limited has a 12 month low of $27.15 and a 12 month high of $84.20. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 7.46 and a beta of 1.09.

Valaris (NYSE:VAL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported ($0.53) earnings per share (EPS) 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 business had revenue of $620.70 million for the quarter, compared to the consensus estimate of $582.87 million. Valaris's revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities analysts expect that Valaris Limited will post 3.96 earnings per share for the current 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.