Envestnet Asset Management Inc. Acquires 7,234 Shares of Valaris Limited (NYSE:VAL)

Envestnet Asset Management Inc. grew its holdings in Valaris Limited (NYSE:VAL) by 63.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,573 shares of the company’s stock after purchasing an additional 7,234 shares during the period. Envestnet Asset Management Inc.’s holdings in Valaris were worth $822,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of VAL. Norges Bank purchased a new position in Valaris in the 4th quarter valued at approximately $31,949,000. River Road Asset Management LLC grew its position in shares of Valaris by 178.9% in the fourth quarter. River Road Asset Management LLC now owns 409,196 shares of the company’s stock valued at $18,103,000 after purchasing an additional 262,468 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Valaris in the fourth quarter valued at $10,578,000. Packer & Co Ltd bought a new stake in shares of Valaris during the 4th quarter valued at $8,981,000. Finally, Bank of New York Mellon Corp lifted its holdings in Valaris by 20.6% during the 4th quarter. Bank of New York Mellon Corp now owns 581,106 shares of the company’s stock worth $25,708,000 after purchasing an additional 99,297 shares in the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Valaris Stock Up 1.0 %

Shares of NYSE:VAL opened at $35.92 on Friday. The firm has a market capitalization of $2.55 billion, a PE ratio of 6.99 and a beta of 1.06. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.61 and a current ratio of 1.59. Valaris Limited has a 52-week low of $27.15 and a 52-week high of $84.20. The firm has a fifty day moving average of $35.02 and a 200 day moving average of $42.58.

Valaris (NYSE:VAL) last posted its quarterly earnings data on Wednesday, April 30th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($1.63). The firm had revenue of $620.70 million during the quarter, compared to analysts’ expectations of $582.87 million. Valaris had a return on equity of 17.40% and a net margin of 15.81%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, research analysts anticipate that Valaris Limited will post 3.96 EPS for the current fiscal year.

Analysts Set New Price Targets

VAL has been the subject of a number of analyst reports. Susquehanna cut their price objective on shares of Valaris from $47.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. StockNews.com raised shares of Valaris to a “sell” rating in a report on Thursday, February 20th. Evercore ISI reduced their price target on shares of Valaris from $55.00 to $50.00 and set an “in-line” rating for the company in a research report on Friday. Barclays lowered their price objective on Valaris from $46.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday, April 7th. Finally, Citigroup dropped their price objective on Valaris from $48.00 to $44.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $48.83.

Valaris Company 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.