PNC Financial Services Group Inc. Has $40,000 Holdings in Valaris Limited (NYSE:VAL)

PNC Financial Services Group Inc. decreased its position in shares of Valaris Limited (NYSE:VAL) by 74.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 914 shares of the company’s stock after selling 2,658 shares during the period. PNC Financial Services Group Inc.’s holdings in Valaris were worth $40,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of VAL. State Street Corp lifted its position in shares of Valaris by 4.8% during the 3rd quarter. State Street Corp now owns 2,446,006 shares of the company’s stock worth $136,365,000 after purchasing an additional 112,216 shares during the last quarter. Bank of New York Mellon Corp increased its position in Valaris by 20.6% in the 4th quarter. Bank of New York Mellon Corp now owns 581,106 shares of the company’s stock worth $25,708,000 after buying an additional 99,297 shares during the period. Lingotto Investment Management LLP increased its position in Valaris by 2.5% in the 4th quarter. Lingotto Investment Management LLP now owns 3,637,207 shares of the company’s stock worth $160,910,000 after buying an additional 87,420 shares during the period. Hosking Partners LLP lifted its holdings in shares of Valaris by 33.6% during the fourth quarter. Hosking Partners LLP now owns 341,842 shares of the company’s stock worth $15,123,000 after buying an additional 85,891 shares during the last quarter. Finally, Waverton Investment Management Ltd grew its stake in shares of Valaris by 12.7% in the fourth quarter. Waverton Investment Management Ltd now owns 756,135 shares of the company’s stock worth $33,451,000 after acquiring an additional 85,250 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Susquehanna reduced their price target on shares of Valaris from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Barclays reduced their target price on shares of Valaris from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 25th. StockNews.com upgraded Valaris to a “sell” rating in a research report on Thursday, February 20th. Citigroup lowered their price objective on Valaris from $48.00 to $44.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Finally, Evercore ISI cut Valaris from an “outperform” rating to an “in-line” rating and reduced their target price for the stock from $87.00 to $59.00 in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, Valaris currently has an average rating of “Hold” and an average price target of $54.33.

Valaris Stock Performance

Shares of NYSE:VAL opened at $40.28 on Thursday. 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 business’s fifty day moving average price is $42.59 and its two-hundred day moving average price is $46.78. Valaris Limited has a fifty-two week low of $31.15 and a fifty-two week high of $84.20. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 7.84 and a beta of 1.16.

Valaris (NYSE:VAL) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $578.01 million. As a group, analysts predict 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.