Bank of New York Mellon Corp Sells 11,593 Shares of Valaris Limited (NYSE:VAL)

Bank of New York Mellon Corp trimmed its holdings in Valaris Limited (NYSE:VAL) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 569,513 shares of the company’s stock after selling 11,593 shares during the period. Bank of New York Mellon Corp owned about 0.80% of Valaris worth $22,359,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VAL. GAMMA Investing LLC boosted its position in Valaris by 1,027.5% during the first quarter. GAMMA Investing LLC now owns 1,353 shares of the company’s stock valued at $53,000 after purchasing an additional 1,233 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Valaris during the fourth quarter worth approximately $875,000. Deutsche Bank AG boosted its holdings in shares of Valaris by 94.7% in the 4th quarter. Deutsche Bank AG now owns 207,291 shares of the company’s stock valued at $9,171,000 after purchasing an additional 100,812 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Valaris by 14.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 143,399 shares of the company’s stock valued at $6,344,000 after purchasing an additional 18,107 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Valaris by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 6,454,159 shares of the company’s stock valued at $285,532,000 after acquiring an additional 23,509 shares in the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wall Street Zen raised Valaris to a “sell” rating in a research report on Tuesday, May 13th. Barclays boosted their target price on Valaris from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. Evercore ISI dropped their price objective on Valaris from $55.00 to $50.00 and set an “in-line” rating on the stock in a research note on Friday, May 2nd. BTIG Research reiterated a “buy” rating on shares of Valaris in a research note on Monday. Finally, Citigroup reaffirmed a “neutral” rating and issued a $50.00 price target (up previously from $47.00) on shares of Valaris in a report on Thursday, July 10th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $52.50.

Valaris Stock Performance

Shares of NYSE VAL opened at $47.40 on Friday. The firm’s fifty day moving average is $42.62 and its two-hundred day moving average is $40.83. Valaris Limited has a 52-week low of $27.15 and a 52-week high of $84.20. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.67 and a current ratio of 1.67. The company has a market cap of $3.37 billion, a P/E ratio of 11.13 and a beta of 1.15.

Valaris (NYSE:VAL) last released 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 business had revenue of $620.70 million for the quarter, compared to the consensus estimate of $582.87 million. Valaris had a net margin of 12.61% and a return on equity of 14.14%. The company’s revenue was up 6.2% compared to the same quarter last year. As a group, analysts anticipate that Valaris Limited will post 3.96 EPS 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.