Cerity Partners LLC Invests $222,000 in Valaris Limited (NYSE:VAL)

Cerity Partners LLC acquired a new stake in Valaris Limited (NYSE:VAL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,539 shares of the company’s stock, valued at approximately $222,000.

A number of other institutional investors have also modified their holdings of the company. Aristides Capital LLC purchased a new stake in Valaris during the fourth quarter worth approximately $212,000. Quadrant Capital Group LLC boosted its position in Valaris by 326.9% during the 4th quarter. Quadrant Capital Group LLC now owns 1,874 shares of the company’s stock worth $83,000 after purchasing an additional 1,435 shares during the period. Russell Investments Group Ltd. increased its holdings in Valaris by 19.3% in the 4th quarter. Russell Investments Group Ltd. now owns 15,139 shares of the company’s stock valued at $670,000 after purchasing an additional 2,444 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Valaris by 63.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 18,573 shares of the company’s stock valued at $822,000 after purchasing an additional 7,234 shares in the last quarter. Finally, Old West Investment Management LLC purchased a new position in Valaris in the fourth quarter valued at about $1,572,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on VAL shares. Evercore ISI lowered Valaris from an “outperform” rating to an “in-line” rating and lowered their target price for the company from $87.00 to $59.00 in a research note on Wednesday, January 15th. Citigroup dropped their price objective on shares of Valaris from $48.00 to $44.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. StockNews.com raised shares of Valaris to a “sell” rating in a research report on Thursday, February 20th. Barclays lowered their price target on shares of Valaris from $46.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, April 7th. Finally, Susquehanna cut their price objective on shares of Valaris from $47.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, Valaris presently has an average rating of “Hold” and a consensus target price of $50.33.

Valaris Price Performance

Shares of VAL stock opened at $32.38 on Friday. The firm has a market cap of $2.30 billion, a P/E ratio of 6.30 and a beta of 1.06. The firm has a fifty day moving average of $36.03 and a two-hundred day moving average of $43.35. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.59 and a quick ratio of 1.61. Valaris Limited has a 1-year low of $27.15 and a 1-year high of $84.20.

Valaris (NYSE:VAL) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.68. Valaris had a return on equity of 17.40% and a net margin of 15.81%. The firm had revenue of $584.40 million during the quarter, compared to analyst estimates of $578.01 million. As a group, research analysts anticipate that Valaris Limited will post 3.96 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.