Bank of New York Mellon Corp Increases Stake in Valaris Limited (NYSE:VAL)

Bank of New York Mellon Corp boosted its position in Valaris Limited (NYSE:VAL) by 5.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 586,228 shares of the company’s stock after acquiring an additional 29,128 shares during the period. Bank of New York Mellon Corp owned 0.81% of Valaris worth $43,674,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its position in shares of Valaris by 180.8% in the first quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $27,000 after purchasing an additional 235 shares during the period. Spire Wealth Management purchased a new position in Valaris in the 4th quarter valued at approximately $101,000. Assetmark Inc. raised its holdings in Valaris by 88.3% during the 4th quarter. Assetmark Inc. now owns 1,747 shares of the company’s stock valued at $120,000 after acquiring an additional 819 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Valaris during the first quarter worth $149,000. Finally, Fermata Advisors LLC bought a new position in shares of Valaris in the second quarter worth $237,000. 96.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Valaris Price Performance

Valaris stock opened at $61.06 on Monday. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 5.34 and a beta of 1.21. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.49. The business has a 50-day simple moving average of $70.37 and a 200 day simple moving average of $70.83. Valaris Limited has a 52 week low of $59.39 and a 52 week high of $84.20.

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