Huber Capital Management LLC Sells 2,900 Shares of Valaris Limited (NYSE:VAL)

Huber Capital Management LLC decreased its holdings in Valaris Limited (NYSE:VAL) by 22.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,200 shares of the company’s stock after selling 2,900 shares during the quarter. Huber Capital Management LLC’s holdings in Valaris were worth $451,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VAL. Quarry LP bought a new position in Valaris during the third quarter worth about $25,000. Signaturefd LLC lifted its position in shares of Valaris by 395.0% during the 4th quarter. Signaturefd LLC now owns 1,475 shares of the company’s stock worth $65,000 after buying an additional 1,177 shares during the period. Blue Trust Inc. lifted its position in shares of Valaris by 41.0% during the 4th quarter. Blue Trust Inc. now owns 1,758 shares of the company’s stock worth $78,000 after buying an additional 511 shares during the period. KBC Group NV boosted its stake in Valaris by 63.3% in the 4th quarter. KBC Group NV now owns 2,929 shares of the company’s stock valued at $130,000 after buying an additional 1,135 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in Valaris in the fourth quarter valued at $176,000. 96.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on VAL. JPMorgan Chase & Co. started coverage on shares of Valaris in a research note on Friday, December 6th. They issued an “underweight” rating and a $40.00 target price on the stock. Evercore ISI lowered shares of Valaris from an “outperform” rating to an “in-line” rating and reduced their price target for the company from $87.00 to $59.00 in a research report on Wednesday, January 15th. Barclays dropped their price objective on shares of Valaris from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, February 25th. Citigroup reduced their target price on Valaris from $48.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Finally, Susquehanna dropped their price target on Valaris from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $54.33.

Valaris Price Performance

VAL opened at $40.07 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 company’s 50 day simple moving average is $41.75 and its 200-day simple moving average is $46.26. Valaris Limited has a one year low of $31.15 and a one year high of $84.20. The stock has a market capitalization of $2.85 billion, a P/E ratio of 7.80 and a beta of 1.16.

Valaris (NYSE:VAL) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.68. The firm had revenue of $584.40 million for the quarter, compared to analyst estimates of $578.01 million. Valaris had a return on equity of 17.40% and a net margin of 15.81%. Sell-side analysts anticipate that Valaris Limited will post 3.96 earnings per share 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.