SCP Investment LP Lowers Stock Position in Valaris Limited (NYSE:VAL)

SCP Investment LP reduced its position in Valaris Limited (NYSE:VALFree Report) by 10.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,800 shares of the company’s stock after selling 800 shares during the quarter. Valaris comprises about 0.5% of SCP Investment LP’s holdings, making the stock its 23rd largest position. SCP Investment LP’s holdings in Valaris were worth $517,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of VAL. Spire Wealth Management acquired a new position in Valaris during the fourth quarter worth about $101,000. U.S. Capital Wealth Advisors LLC purchased a new position in Valaris in the 4th quarter valued at approximately $453,000. M&T Bank Corp raised its holdings in Valaris by 11.6% during the fourth quarter. M&T Bank Corp now owns 9,058 shares of the company’s stock worth $621,000 after purchasing an additional 941 shares during the last quarter. Investment House LLC purchased a new stake in Valaris during the fourth quarter worth $686,000. Finally, Retirement Systems of Alabama grew its holdings in Valaris by 33.3% in the fourth quarter. Retirement Systems of Alabama now owns 173,616 shares of the company’s stock valued at $11,905,000 after purchasing an additional 43,368 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Analysts Set New Price Targets

VAL has been the subject of a number of research reports. StockNews.com upgraded shares of Valaris to a “sell” rating in a research report on Friday, April 26th. Evercore ISI dropped their price target on Valaris from $107.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, February 23rd. Barclays reduced their price objective on Valaris from $102.00 to $98.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. TheStreet upgraded Valaris from a “c” rating to a “b-” rating in a research report on Thursday, February 22nd. Finally, Benchmark restated a “buy” rating and issued a $90.00 target price on shares of Valaris in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $99.20.

Check Out Our Latest Stock Report on VAL

Valaris Stock Performance

Shares of VAL opened at $71.11 on Wednesday. Valaris Limited has a 52-week low of $55.53 and a 52-week high of $78.92. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of 6.22 and a beta of 1.24. The business’s 50 day moving average is $72.25 and its two-hundred day moving average is $68.87.

Valaris (NYSE:VALGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.05). Valaris had a return on equity of 3.81% and a net margin of 44.93%. The company had revenue of $525.00 million for the quarter, compared to analyst estimates of $503.00 million. Analysts forecast that Valaris Limited will post 4.37 EPS for the current fiscal year.

Valaris Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Valaris (NYSE:VAL)

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