Arizona State Retirement System Cuts Stock Position in Valaris Limited (NYSE:VAL)

Arizona State Retirement System lessened its holdings in Valaris Limited (NYSE:VAL) by 3.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,360 shares of the company’s stock after selling 642 shares during the period. Arizona State Retirement System’s holdings in Valaris were worth $721,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Lowe Wealth Advisors LLC acquired a new position in Valaris during the 1st quarter worth $28,000. Quarry LP boosted its holdings in shares of Valaris by 51.7% in the 4th quarter. Quarry LP now owns 684 shares of the company’s stock valued at $30,000 after buying an additional 233 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of Valaris by 518.3% in the 4th quarter. Sterling Capital Management LLC now owns 742 shares of the company’s stock valued at $33,000 after buying an additional 622 shares during the period. UMB Bank n.a. acquired a new position in shares of Valaris in the 1st quarter valued at about $44,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Valaris by 1,027.5% in the 1st quarter. GAMMA Investing LLC now owns 1,353 shares of the company’s stock valued at $53,000 after buying an additional 1,233 shares during the period. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Analyst Upgrades and Downgrades

VAL has been the subject of a number of analyst reports. Susquehanna boosted their target price on shares of Valaris from $40.00 to $46.00 and gave the company a “neutral” rating in a research note on Tuesday, July 1st. 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. Evercore ISI cut their price target on shares of Valaris from $55.00 to $50.00 and set an “in-line” rating on the stock in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Valaris to a “sell” rating in a research note on Tuesday, May 13th. Finally, BTIG Research restated a “buy” rating on shares of Valaris in a research note on Monday, July 14th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $52.50.

Valaris Stock Down 1.1%

Valaris stock opened at $46.42 on Tuesday. The company has a 50 day moving average of $42.79 and a 200-day moving average of $40.80. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $3.30 billion, a PE ratio of 10.90 and a beta of 1.15. Valaris Limited has a twelve month low of $27.15 and a twelve month high of $84.20.

Valaris (NYSE:VAL) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($1.63). Valaris had a return on equity of 14.14% and a net margin of 12.61%. The firm had revenue of $620.70 million for the quarter, compared to the consensus estimate of $582.87 million. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts anticipate that Valaris Limited will post 3.96 EPS for the current fiscal year.

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.