Valaris Limited (NYSE:VAL) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its position in shares of Valaris Limited (NYSE:VAL) by 34.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 945,508 shares of the company’s stock after selling 500,059 shares during the period. Wellington Management Group LLP owned about 1.33% of Valaris worth $41,829,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Valaris during the third quarter worth $25,000. Signaturefd LLC raised its stake in Valaris by 395.0% during the fourth quarter. Signaturefd LLC now owns 1,475 shares of the company’s stock worth $65,000 after acquiring an additional 1,177 shares during the period. Blue Trust Inc. lifted its holdings in Valaris by 41.0% in the fourth quarter. Blue Trust Inc. now owns 1,758 shares of the company’s stock worth $78,000 after acquiring an additional 511 shares during the last quarter. KBC Group NV boosted its stake in Valaris by 63.3% in the fourth quarter. KBC Group NV now owns 2,929 shares of the company’s stock valued at $130,000 after acquiring an additional 1,135 shares during the period. Finally, New Age Alpha Advisors LLC bought a new position in shares of Valaris during the fourth quarter valued at approximately $176,000. 96.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Valaris Trading Down 14.5 %

Shares of Valaris stock opened at $29.49 on Friday. The business has a fifty day simple moving average of $41.07 and a 200-day simple moving average of $45.92. Valaris Limited has a fifty-two week low of $29.40 and a fifty-two week high of $84.20. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 5.74 and a beta of 1.06. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48.

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

About Valaris

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.