Federated Hermes Inc. Lowers Position in Valaris Limited (NYSE:VAL)

Federated Hermes Inc. trimmed its position in shares of Valaris Limited (NYSE:VAL) by 11.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,786 shares of the company’s stock after selling 977 shares during the period. Federated Hermes Inc.’s holdings in Valaris were worth $534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. FMR LLC increased its holdings in Valaris by 31.8% in the third quarter. FMR LLC now owns 3,812,867 shares of the company’s stock valued at $285,889,000 after buying an additional 919,123 shares in the last quarter. Lancaster Investment Management purchased a new position in Valaris during the fourth quarter worth approximately $27,436,000. Bank Pictet & Cie Europe AG purchased a new position in Valaris during the third quarter worth approximately $27,063,000. Principal Financial Group Inc. grew its holdings in Valaris by 157.1% in the third quarter. Principal Financial Group Inc. now owns 587,780 shares of the company’s stock valued at $44,072,000 after purchasing an additional 359,168 shares during the period. Finally, River Road Asset Management LLC increased its position in shares of Valaris by 289.2% in the third quarter. River Road Asset Management LLC now owns 362,539 shares of the company’s stock valued at $27,183,000 after buying an additional 269,393 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Valaris Price Performance

Valaris stock opened at $68.25 on Friday. The company has a fifty day simple moving average of $69.72 and a 200-day simple moving average of $67.90. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 5.90 and a beta of 1.20. Valaris Limited has a 52-week low of $54.13 and a 52-week high of $78.92.

Valaris (NYSE:VAL) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). Valaris had a net margin of 44.93% and a return on equity of 4.15%. The business had revenue of $525.00 million for the quarter, compared to analysts’ expectations of $503.00 million. On average, equities analysts anticipate that Valaris Limited will post 4.75 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on VAL shares. StockNews.com upgraded Valaris to a “sell” rating in a research report on Friday, April 26th. Benchmark reaffirmed a “buy” rating and set a $90.00 price objective on shares of Valaris in a report on Thursday. TheStreet upgraded shares of Valaris from a “c” rating to a “b-” rating in a research report on Thursday, February 22nd. Barclays reduced their price target on shares of Valaris from $105.00 to $102.00 and set an “overweight” rating for the company in a research report on Tuesday, March 5th. Finally, Evercore ISI lowered their price objective on Valaris from $107.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, Valaris has an average rating of “Moderate Buy” and an average price target of $100.00.

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.