Valaris Limited (NYSE:VAL) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its holdings in Valaris Limited (NYSE:VAL) by 10.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,770 shares of the company’s stock after selling 795 shares during the quarter. State of Alaska Department of Revenue’s holdings in Valaris were worth $464,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VAL. Fortis Capital Advisors LLC acquired a new stake in Valaris in the first quarter worth about $26,000. Belpointe Asset Management LLC acquired a new stake in Valaris in the 1st quarter worth approximately $27,000. Fifth Third Bancorp grew its position in Valaris by 120.1% during the 3rd quarter. Fifth Third Bancorp now owns 394 shares of the company’s stock worth $30,000 after purchasing an additional 215 shares during the last quarter. Princeton Global Asset Management LLC acquired a new position in Valaris during the 3rd quarter valued at approximately $37,000. Finally, Covestor Ltd raised its holdings in shares of Valaris by 184.0% in the third quarter. Covestor Ltd now owns 693 shares of the company’s stock worth $52,000 after buying an additional 449 shares during the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on VAL. Evercore ISI dropped their price objective on shares of Valaris from $107.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. Barclays dropped their price target on Valaris from $105.00 to $102.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 5th. StockNews.com upgraded Valaris to a “sell” rating in a research note on Friday, March 15th. Finally, TheStreet raised Valaris from a “c” rating to a “b-” rating in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.00.

Valaris Stock Performance

Shares of VAL stock opened at $70.84 on Friday. The stock has a market cap of $5.13 billion, a PE ratio of 6.06 and a beta of 1.13. Valaris Limited has a 52-week low of $54.13 and a 52-week high of $78.92. The business has a 50-day simple moving average of $68.80 and a 200-day simple moving average of $68.43. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.54.

Valaris (NYSE:VAL) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.32. The company had revenue of $483.80 million during the quarter, compared to the consensus estimate of $484.00 million. Valaris had a return on equity of 5.71% and a net margin of 48.50%. On average, equities analysts expect that Valaris Limited will post 4.75 EPS for the current year.

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.