Valaris Limited (NYSE:VAL) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its holdings in Valaris Limited (NYSE:VAL) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 589,524 shares of the company’s stock after selling 13,095 shares during the quarter. Wellington Management Group LLP owned about 0.81% of Valaris worth $40,424,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC grew its holdings in shares of Valaris by 19.6% during the fourth quarter. SG Americas Securities LLC now owns 2,112 shares of the company’s stock worth $145,000 after buying an additional 346 shares during the last quarter. Allegheny Financial Group LTD grew its stake in shares of Valaris by 8.7% in the 4th quarter. Allegheny Financial Group LTD now owns 4,360 shares of the company’s stock valued at $299,000 after purchasing an additional 348 shares during the last quarter. Insight Wealth Strategies LLC increased its holdings in shares of Valaris by 6.4% in the fourth quarter. Insight Wealth Strategies LLC now owns 6,909 shares of the company’s stock valued at $474,000 after purchasing an additional 416 shares during the period. Arizona State Retirement System raised its stake in shares of Valaris by 2.3% during the fourth quarter. Arizona State Retirement System now owns 18,614 shares of the company’s stock worth $1,276,000 after purchasing an additional 419 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Valaris by 184.0% during the third quarter. Covestor Ltd now owns 693 shares of the company’s stock worth $52,000 after purchasing an additional 449 shares during the period. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Valaris Stock Performance

Shares of VAL opened at $72.84 on Monday. The company has a market capitalization of $5.27 billion, a PE ratio of 6.37 and a beta of 1.24. Valaris Limited has a 52-week low of $55.53 and a 52-week high of $78.92. The company has a 50-day simple moving average of $72.21 and a 200-day simple moving average of $69.34. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.53.

Valaris (NYSE:VAL) last issued its earnings results on Wednesday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The company had revenue of $525.00 million during the quarter, compared to analysts’ expectations of $503.00 million. Valaris had a net margin of 44.93% and a return on equity of 3.81%. Equities research analysts predict that Valaris Limited will post 4.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Barclays dropped their price objective on shares of Valaris from $102.00 to $98.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Benchmark restated a “buy” rating and issued a $90.00 price objective on shares of Valaris in a research report on Thursday, May 2nd. Finally, StockNews.com upgraded Valaris to a “sell” rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.20.

About Valaris

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.