Nisa Investment Advisors LLC Cuts Stock Holdings in Valaris Limited (NYSE:VAL)

Nisa Investment Advisors LLC reduced its holdings in Valaris Limited (NYSE:VAL) by 11.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,405 shares of the company’s stock after selling 173 shares during the period. Nisa Investment Advisors LLC’s holdings in Valaris were worth $96,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in VAL. Fortis Capital Advisors LLC purchased a new position in shares of Valaris in the 1st quarter worth $26,000. Belpointe Asset Management LLC purchased a new position in shares of Valaris in the 1st quarter worth $27,000. Fifth Third Bancorp grew its stake in shares of Valaris by 120.1% in the 3rd quarter. Fifth Third Bancorp now owns 394 shares of the company’s stock worth $30,000 after buying an additional 215 shares in the last quarter. Princeton Global Asset Management LLC purchased a new position in shares of Valaris in the 3rd quarter worth $37,000. Finally, Covestor Ltd grew its stake in shares of Valaris by 184.0% in the 3rd quarter. Covestor Ltd now owns 693 shares of the company’s stock worth $52,000 after buying an additional 449 shares in the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Valaris Trading Up 2.1 %

Shares of VAL opened at $68.48 on Friday. Valaris Limited has a 1-year low of $54.13 and a 1-year high of $78.92. The company has a 50-day moving average of $69.35 and a 200 day moving average of $68.16. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 5.86 and a beta of 1.13. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.71 and a quick ratio of 1.71.

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

Wall Street Analyst Weigh In

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

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.