12,900 Shares in Valaris Limited (NYSE:VAL) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in Valaris Limited (NYSE:VAL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,900 shares of the company’s stock, valued at approximately $571,000.

Several other large investors also recently added to or reduced their stakes in VAL. Lingotto Investment Management LLP raised its stake in shares of Valaris by 2.5% in the 4th quarter. Lingotto Investment Management LLP now owns 3,637,207 shares of the company’s stock valued at $160,910,000 after acquiring an additional 87,420 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of Valaris in the fourth quarter valued at approximately $611,000. Centiva Capital LP bought a new position in shares of Valaris in the third quarter valued at approximately $930,000. XTX Topco Ltd bought a new stake in shares of Valaris during the 3rd quarter worth $1,862,000. Finally, Waverton Investment Management Ltd boosted its holdings in shares of Valaris by 12.7% during the 4th quarter. Waverton Investment Management Ltd now owns 756,135 shares of the company’s stock worth $33,451,000 after buying an additional 85,250 shares during the period. 96.74% of the stock is owned by institutional investors.

Valaris Price Performance

Shares of Valaris stock opened at $40.07 on Thursday. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 7.80 and a beta of 1.16. Valaris Limited has a twelve month low of $31.15 and a twelve month high of $84.20. The company has a 50-day simple moving average of $41.75 and a two-hundred day simple moving average of $46.26.

Valaris (NYSE:VAL) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.20 by $0.68. The business had revenue of $584.40 million during the quarter, compared to the consensus estimate of $578.01 million. Valaris had a net margin of 15.81% and a return on equity of 17.40%. Analysts forecast that Valaris Limited will post 3.96 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on VAL. StockNews.com raised shares of Valaris to a “sell” rating in a research report on Thursday, February 20th. Barclays decreased their target price on Valaris from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 25th. Citigroup cut their price target on Valaris from $48.00 to $44.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Susquehanna lowered their price objective on shares of Valaris from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. began coverage on shares of Valaris in a research note on Friday, December 6th. They set an “underweight” rating and a $40.00 target price for the company. 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 data from MarketBeat.com, Valaris has a consensus rating of “Hold” and a consensus target price of $54.33.

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.