Rhumbline Advisers Has $8.97 Million Stock Position in Valaris Limited (NYSE:VAL)

Rhumbline Advisers lessened its stake in Valaris Limited (NYSE:VAL) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 202,637 shares of the company’s stock after selling 6,290 shares during the quarter. Rhumbline Advisers owned approximately 0.28% of Valaris worth $8,965,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP acquired a new stake in Valaris in the third quarter valued at $25,000. Blue Trust Inc. raised 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 during the period. KBC Group NV lifted its stake in Valaris by 63.3% in the 4th quarter. KBC Group NV now owns 2,929 shares of the company’s stock valued at $130,000 after purchasing an additional 1,135 shares during the last quarter. Spire Wealth Management lifted its stake in Valaris by 24.3% in the 4th quarter. Spire Wealth Management now owns 4,206 shares of the company’s stock valued at $186,000 after purchasing an additional 821 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Valaris during the fourth quarter worth about $243,000. 96.74% of the stock is owned by institutional investors.

Valaris Trading Down 2.2 %

Shares of Valaris stock opened at $40.85 on Tuesday. 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 firm has a 50-day moving average of $45.38 and a 200-day moving average of $50.36. Valaris Limited has a 52-week low of $39.90 and a 52-week high of $84.20. The stock has a market cap of $2.91 billion, a PE ratio of 7.95 and a beta of 1.10.

Valaris (NYSE:VAL) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.68. Valaris had a net margin of 15.81% and a return on equity of 17.40%. The firm had revenue of $584.40 million during the quarter, compared to the consensus estimate of $578.01 million. As a group, sell-side analysts forecast that Valaris Limited will post 3.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on VAL shares. JPMorgan Chase & Co. assumed coverage on Valaris in a research report on Friday, December 6th. They issued an “underweight” rating and a $40.00 price objective for the company. StockNews.com raised Valaris to a “sell” rating in a report on Thursday, February 20th. Citigroup upped their price objective on shares of Valaris from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Susquehanna cut their target price on shares of Valaris from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Evercore ISI lowered shares of Valaris from an “outperform” rating to an “in-line” rating and decreased their price target for the company from $87.00 to $59.00 in a research note on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $55.50.

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.