Valaris Limited (NYSE:VAL) Shares Purchased by Swiss National Bank

Swiss National Bank raised its position in Valaris Limited (NYSE:VAL) by 1.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 128,700 shares of the company’s stock after purchasing an additional 1,400 shares during the period. Swiss National Bank’s holdings in Valaris were worth $5,694,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Lingotto Investment Management LLP grew its stake in Valaris by 2.5% in the 4th quarter. Lingotto Investment Management LLP now owns 3,637,207 shares of the company’s stock valued at $160,910,000 after acquiring an additional 87,420 shares during the last quarter. State Street Corp lifted its holdings in shares of Valaris by 4.8% in the third quarter. State Street Corp now owns 2,446,006 shares of the company’s stock valued at $136,365,000 after purchasing an additional 112,216 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Valaris by 4.6% in the third quarter. Geode Capital Management LLC now owns 1,519,644 shares of the company’s stock valued at $84,736,000 after purchasing an additional 66,229 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Valaris by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 797,060 shares of the company’s stock valued at $44,436,000 after purchasing an additional 29,031 shares during the last quarter. Finally, Waverton Investment Management Ltd increased its stake in shares of Valaris by 12.7% during the 4th quarter. Waverton Investment Management Ltd now owns 756,135 shares of the company’s stock worth $33,451,000 after purchasing an additional 85,250 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Analyst Ratings Changes

VAL has been the topic of a number of analyst reports. StockNews.com upgraded Valaris to a “sell” rating in a report on Thursday, February 20th. Susquehanna decreased their price objective on Valaris from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Citigroup cut their target price on shares of Valaris from $48.00 to $44.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Evercore ISI cut shares of Valaris from an “outperform” rating to an “in-line” rating and decreased their price target for the stock from $87.00 to $59.00 in a research note on Wednesday, January 15th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Valaris in a report on Friday, December 6th. They set an “underweight” rating and a $40.00 price target for the company. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $54.33.

Valaris Stock Down 1.7 %

VAL opened at $39.68 on Monday. Valaris Limited has a 12 month low of $31.15 and a 12 month high of $84.20. The business has a 50-day moving average of $43.07 and a two-hundred day moving average of $47.05. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.59 and a quick ratio of 1.61. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 7.72 and a beta of 1.16.

Valaris (NYSE:VAL) last released its earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.68. Valaris had a net margin of 15.81% and a return on equity of 17.40%. The firm had revenue of $584.40 million during the quarter, compared to the consensus estimate of $578.01 million. On average, research analysts expect that Valaris Limited will post 3.96 earnings per share for the current 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.