M&T Bank Corp Grows Stake in Valaris Limited (NYSE:VAL)

M&T Bank Corp boosted its holdings in shares of Valaris Limited (NYSE:VAL) by 18.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,490 shares of the company’s stock after purchasing an additional 1,454 shares during the quarter. M&T Bank Corp’s holdings in Valaris were worth $373,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Lowe Wealth Advisors LLC acquired a new stake in shares of Valaris during the first quarter worth $28,000. Quarry LP boosted its holdings in Valaris by 51.7% during the fourth quarter. Quarry LP now owns 684 shares of the company’s stock valued at $30,000 after acquiring an additional 233 shares during the period. Sterling Capital Management LLC increased its holdings in shares of Valaris by 518.3% during the 4th quarter. Sterling Capital Management LLC now owns 742 shares of the company’s stock worth $33,000 after purchasing an additional 622 shares during the period. UMB Bank n.a. acquired a new position in shares of Valaris in the first quarter valued at $44,000. Finally, GAMMA Investing LLC lifted its holdings in shares of 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 acquiring an additional 1,233 shares during the period. Institutional investors own 96.74% of the company’s stock.

Valaris Stock Performance

Shares of NYSE VAL opened at $47.40 on Friday. Valaris Limited has a 12 month low of $27.15 and a 12 month high of $84.20. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.49. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 11.13 and a beta of 1.15. The company has a 50 day simple moving average of $42.62 and a two-hundred day simple moving average of $40.83.

Valaris (NYSE:VAL) last posted its quarterly earnings data on Wednesday, April 30th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($1.63). Valaris had a return on equity of 14.14% and a net margin of 12.61%. The company had revenue of $620.70 million for the quarter, compared to analyst estimates of $582.87 million. The business’s revenue was up 6.2% compared to the same quarter last year. As a group, analysts predict that Valaris Limited will post 3.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Evercore ISI lowered their target price on shares of Valaris from $55.00 to $50.00 and set an “in-line” rating for the company in a research note on Friday, May 2nd. Wall Street Zen upgraded Valaris to a “sell” rating in a research report on Tuesday, May 13th. Citigroup reaffirmed a “neutral” rating and set a $50.00 price target (up previously from $47.00) on shares of Valaris in a research report on Thursday, July 10th. BTIG Research reissued a “buy” rating on shares of Valaris in a research report on Monday. Finally, Susquehanna raised their price objective on shares of Valaris from $40.00 to $46.00 and gave the company a “neutral” rating in a research report on Tuesday, July 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $52.50.

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.