Short Interest in Valaris Limited (NYSE:VAL) Drops By 21.5%

Valaris Limited (NYSE:VAL - Get Free Report) saw a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 10,360,000 shares, a decline of 21.5% from the April 30th total of 13,200,000 shares. Currently, 16.5% of the shares of the company are short sold. Based on an average daily trading volume, of 2,100,000 shares, the days-to-cover ratio is currently 4.9 days.

Institutional Investors Weigh In On Valaris

Several institutional investors have recently made changes to their positions in VAL. Blue Trust Inc. increased its holdings in shares of Valaris by 41.0% in the 4th quarter. Blue Trust Inc. now owns 1,758 shares of the company's stock valued at $78,000 after purchasing an additional 511 shares in the last quarter. KBC Group NV increased its holdings in Valaris by 63.3% in the fourth quarter. KBC Group NV now owns 2,929 shares of the company's stock valued at $130,000 after buying an additional 1,135 shares in the last quarter. Spire Wealth Management lifted its position in shares of Valaris by 24.3% during the 4th quarter. Spire Wealth Management now owns 4,206 shares of the company's stock valued at $186,000 after acquiring an additional 821 shares during the period. U.S. Capital Wealth Advisors LLC lifted its position in shares of Valaris by 177.5% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 72,688 shares of the company's stock valued at $3,216,000 after acquiring an additional 46,493 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Valaris by 27.3% during the 4th quarter. Jennison Associates LLC now owns 20,641 shares of the company's stock worth $913,000 after acquiring an additional 4,422 shares in the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Valaris Stock Performance

VAL traded down $0.53 during trading on Wednesday, reaching $39.95. The company's stock had a trading volume of 1,606,491 shares, compared to its average volume of 1,902,232. 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 company's fifty day moving average price is $35.14 and its 200-day moving average price is $40.64. Valaris has a 52-week low of $27.15 and a 52-week high of $84.20. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 7.77 and a beta of 1.09.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Susquehanna lowered their target price on shares of Valaris from $47.00 to $34.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Wall Street Zen raised shares of Valaris to a "sell" rating in a research report on Tuesday, May 13th. Barclays lifted their price objective on shares of Valaris from $35.00 to $37.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Citigroup decreased their price objective on Valaris from $48.00 to $44.00 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Finally, Evercore ISI dropped their target price on Valaris from $55.00 to $50.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to data from MarketBeat.com, Valaris presently has a consensus rating of "Hold" and a consensus price target of $49.17.

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.