Zurcher Kantonalbank Zurich Cantonalbank Has $1.02 Million Holdings in Valaris Limited (NYSE:VAL)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Valaris Limited (NYSE:VAL) by 19.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,893 shares of the company’s stock after acquiring an additional 2,397 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Valaris were worth $1,021,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in VAL. FMR LLC raised its holdings in shares of Valaris by 31.8% in the 3rd quarter. FMR LLC now owns 3,812,867 shares of the company’s stock worth $285,889,000 after acquiring an additional 919,123 shares during the last quarter. Lancaster Investment Management acquired a new stake in shares of Valaris in the 4th quarter worth about $27,436,000. Bank Pictet & Cie Europe AG acquired a new stake in shares of Valaris in the 3rd quarter worth about $27,063,000. Principal Financial Group Inc. raised its holdings in shares of Valaris by 157.1% in the 3rd quarter. Principal Financial Group Inc. now owns 587,780 shares of the company’s stock worth $44,072,000 after acquiring an additional 359,168 shares during the last quarter. Finally, River Road Asset Management LLC raised its holdings in shares of Valaris by 289.2% in the 3rd quarter. River Road Asset Management LLC now owns 362,539 shares of the company’s stock worth $27,183,000 after acquiring an additional 269,393 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Analyst Ratings Changes

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

Valaris Stock Up 2.1 %

Valaris stock opened at $69.20 on Friday. Valaris Limited has a twelve month low of $54.13 and a twelve month high of $78.92. The firm has a 50 day moving average price of $69.68 and a 200-day moving average price of $68.05. The company has a market capitalization of $5.01 billion, a P/E ratio of 5.92 and a beta of 1.13. 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 released its earnings results 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 firm had revenue of $483.80 million during the quarter, compared to the consensus estimate of $484.00 million. As a group, equities analysts predict that Valaris Limited will post 4.75 EPS for the current year.

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.