Renaissance Technologies LLC Makes New Investment in Valaris Limited (NYSE:VAL)

Renaissance Technologies LLC bought a new position in shares of Valaris Limited (NYSE:VAL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 491,572 shares of the company's stock, valued at approximately $21,747,000. Renaissance Technologies LLC owned 0.69% of Valaris as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Valaris Price Performance

Shares of NYSE:VAL traded up $1.80 during trading on Friday, reaching $31.90. The stock had a trading volume of 1,360,626 shares, compared to its average volume of 1,459,744. The business has a fifty day moving average price of $37.44 and a 200-day moving average price of $44.19. 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 stock has a market cap of $2.27 billion, a PE ratio of 6.21 and a beta of 1.06. Valaris Limited has a 1-year low of $27.15 and a 1-year 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, beating the consensus estimate of $1.20 by $0.68. Valaris had a net margin of 15.81% and a return on equity of 17.40%. The company had revenue of $584.40 million during the quarter, compared to analysts' expectations of $578.01 million. On average, equities analysts forecast that Valaris Limited will post 3.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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