Vanguard Group Inc. Has $285.53 Million Position in Valaris Limited (NYSE:VAL)

Vanguard Group Inc. increased its holdings in shares of Valaris Limited (NYSE:VAL) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,454,159 shares of the company’s stock after buying an additional 23,509 shares during the period. Vanguard Group Inc. owned about 9.08% of Valaris worth $285,532,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its holdings in shares of Valaris by 1.3% during the fourth quarter. Arizona State Retirement System now owns 19,002 shares of the company’s stock worth $841,000 after purchasing an additional 237 shares during the period. Quarry LP bought a new position in Valaris during the 3rd quarter worth $25,000. Xponance Inc. raised its position in Valaris by 5.5% during the 4th quarter. Xponance Inc. now owns 9,273 shares of the company’s stock worth $410,000 after purchasing an additional 487 shares during the last quarter. State of Michigan Retirement System lifted its holdings in Valaris by 3.3% during the 4th quarter. State of Michigan Retirement System now owns 15,500 shares of the company’s stock worth $686,000 after buying an additional 500 shares during the period. Finally, Blue Trust Inc. grew 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 valued at $78,000 after buying an additional 511 shares during the last quarter. 96.74% of the stock is owned by institutional investors.

Valaris Price Performance

Shares of NYSE VAL opened at $29.49 on Friday. The firm has a market capitalization of $2.09 billion, a P/E ratio of 5.74 and a beta of 1.16. The firm’s 50-day moving average price is $41.07 and its 200-day moving average price is $46.00. The company has a current ratio of 1.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.48. Valaris Limited has a 1-year low of $29.40 and a 1-year high of $84.20.

Valaris (NYSE:VAL) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.68. Valaris had a return on equity of 17.40% and a net margin of 15.81%. The business had revenue of $584.40 million for the quarter, compared to the consensus estimate of $578.01 million. Equities research analysts anticipate that Valaris Limited will post 3.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on VAL shares. Citigroup cut their price objective on Valaris from $48.00 to $44.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. JPMorgan Chase & Co. assumed coverage on shares of Valaris in a research report on Friday, December 6th. They issued an “underweight” rating and a $40.00 price target on the stock. Evercore ISI cut shares of Valaris from an “outperform” rating to an “in-line” rating and decreased their price objective for the stock from $87.00 to $59.00 in a research report on Wednesday, January 15th. Barclays dropped their target price on shares of Valaris from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 25th. Finally, Susquehanna decreased their price target on Valaris from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $54.33.

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.