Crossmark Global Holdings Inc. Has $269,000 Stock Position in Valaris Limited (NYSE:VAL)

Crossmark Global Holdings Inc. lessened its position in shares of Valaris Limited (NYSE:VAL) by 16.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 3,617 shares of the company’s stock after selling 738 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Valaris were worth $269,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Lee Johnson Capital Management LLC acquired a new stake in shares of Valaris during the first quarter worth $7,355,000. Norges Bank acquired a new stake in Valaris during the 4th quarter worth about $43,282,000. Dimensional Fund Advisors LP raised its position in shares of Valaris by 18.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 870,063 shares of the company’s stock worth $59,662,000 after acquiring an additional 135,753 shares in the last quarter. Vestor Capital LLC acquired a new position in shares of Valaris in the 4th quarter valued at about $2,890,000. Finally, SG Americas Securities LLC lifted its stake in shares of Valaris by 699.3% in the 1st quarter. SG Americas Securities LLC now owns 16,881 shares of the company’s stock valued at $1,270,000 after purchasing an additional 14,769 shares during the period. Institutional investors own 96.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Barclays dropped their price objective on Valaris from $98.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Pickering Energy Partners downgraded Valaris from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 16th. Finally, Benchmark reissued a “buy” rating and issued a $90.00 price objective on shares of Valaris in a research note on Monday, August 5th. One research 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $97.80.

Valaris Stock Performance

Shares of Valaris stock opened at $56.53 on Thursday. Valaris Limited has a one year low of $56.45 and a one year high of $84.20. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 4.95 and a beta of 1.17. The business has a 50-day simple moving average of $69.52 and a 200 day simple moving average of $70.65. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.73 and a quick ratio of 1.73.

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

About Valaris

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.