Valaris Limited (NYSE:VAL) Stock Position Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in Valaris Limited (NYSE:VAL) by 20.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 581,106 shares of the company’s stock after buying an additional 99,297 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.82% of Valaris worth $25,708,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of VAL. State Street Corp raised its stake in shares of Valaris by 4.8% in the third quarter. State Street Corp now owns 2,446,006 shares of the company’s stock valued at $136,365,000 after purchasing an additional 112,216 shares in the last quarter. Geode Capital Management LLC increased its holdings in Valaris by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,519,644 shares of the company’s stock valued at $84,736,000 after buying an additional 66,229 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Valaris by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 797,060 shares of the company’s stock valued at $44,436,000 after buying an additional 29,031 shares in the last quarter. Waverton Investment Management Ltd lifted 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 acquiring an additional 85,250 shares during the period. Finally, Retirement Systems of Alabama boosted its position in shares of Valaris by 2.2% during the 3rd quarter. Retirement Systems of Alabama now owns 190,025 shares of the company’s stock valued at $10,594,000 after acquiring an additional 4,065 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

Valaris Price Performance

Valaris stock opened at $37.38 on Monday. The business’s fifty day moving average is $44.36 and its two-hundred day moving average is $48.62. 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 market cap of $2.65 billion, a P/E ratio of 7.27 and a beta of 1.16. Valaris Limited has a 52 week low of $31.15 and a 52 week high of $84.20.

Valaris (NYSE:VAL) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.68. The business had revenue of $584.40 million for 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%. Equities research analysts forecast that Valaris Limited will post 3.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

VAL has been the subject of a number of analyst reports. Citigroup raised their price target on shares of Valaris from $47.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. started coverage on Valaris in a research report on Friday, December 6th. They set an “underweight” rating and a $40.00 target price for the company. Barclays lowered their price target on Valaris from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 25th. Evercore ISI cut Valaris from an “outperform” rating to an “in-line” rating and cut their price objective for the company from $87.00 to $59.00 in a report on Wednesday, January 15th. Finally, Susquehanna lowered their target price on shares of Valaris from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $55.00.

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.