Valaris Limited (NYSE:VAL) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lessened its holdings in shares of Valaris Limited (NYSE:VAL) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,600 shares of the company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Valaris were worth $1,311,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lingotto Investment Management LLP grew its holdings in Valaris by 3.6% in the fourth quarter. Lingotto Investment Management LLP now owns 3,003,740 shares of the company’s stock valued at $205,966,000 after purchasing an additional 104,000 shares during the last quarter. Vanguard Group Inc. grew its holdings in Valaris by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 1,893,667 shares of the company’s stock valued at $129,849,000 after purchasing an additional 77,490 shares during the last quarter. Condire Management LP grew its holdings in Valaris by 14.7% in the first quarter. Condire Management LP now owns 1,452,097 shares of the company’s stock valued at $109,285,000 after purchasing an additional 186,076 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Valaris by 18.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 870,063 shares of the company’s stock valued at $59,662,000 after purchasing an additional 135,753 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Valaris by 4.9% in the first quarter. Principal Financial Group Inc. now owns 828,385 shares of the company’s stock valued at $62,344,000 after purchasing an additional 38,531 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Barclays reduced their price objective on Valaris from $98.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Benchmark restated a “buy” rating and issued a $90.00 price objective on shares of Valaris in a research report on Monday, August 5th. Finally, Pickering Energy Partners downgraded Valaris from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Valaris currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.80.

Valaris Stock Performance

NYSE VAL opened at $63.21 on Tuesday. The business’s 50-day moving average price is $71.46 and its 200 day moving average price is $70.95. Valaris Limited has a twelve month low of $60.06 and a twelve month high of $84.20. The company has a market capitalization of $4.60 billion, a PE ratio of 5.53 and a beta of 1.21. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.49.

Valaris (NYSE:VAL) last released its earnings results on Wednesday, July 31st. The company reported $2.03 earnings per share for the quarter, topping the consensus estimate of $0.96 by $1.07. Valaris had a return on equity of 12.58% and a net margin of 49.33%. The firm had revenue of $610.10 million for the quarter, compared to the consensus estimate of $545.00 million. On average, research analysts predict that Valaris Limited will post 4.37 earnings per share 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.