Mirae Asset Global Investments Co. Ltd. Boosts Stock Holdings in Valaris Limited (NYSE:VAL)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Valaris Limited (NYSE:VAL) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,022 shares of the company’s stock after buying an additional 1,080 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Valaris were worth $1,921,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in VAL. FMR LLC boosted its position in Valaris by 31.8% during the third quarter. FMR LLC now owns 3,812,867 shares of the company’s stock valued at $285,889,000 after buying an additional 919,123 shares during the period. State Street Corp raised its stake in shares of Valaris by 64.6% during the first quarter. State Street Corp now owns 2,209,606 shares of the company’s stock valued at $143,757,000 after acquiring an additional 867,097 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Valaris by 1,379.2% during the second quarter. Goldman Sachs Group Inc. now owns 687,204 shares of the company’s stock valued at $29,028,000 after acquiring an additional 640,746 shares during the last quarter. Norges Bank bought a new position in shares of Valaris during the fourth quarter valued at about $42,829,000. Finally, Northern Trust Corp raised its stake in shares of Valaris by 359.9% during the second quarter. Northern Trust Corp now owns 561,122 shares of the company’s stock valued at $23,701,000 after acquiring an additional 439,106 shares during the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Valaris Trading Up 2.1 %

NYSE:VAL opened at $68.48 on Friday. The company’s 50 day moving average price is $69.35 and its 200-day moving average price is $68.19. Valaris Limited has a 52 week low of $54.13 and a 52 week high of $78.92. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.54. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of 5.86 and a beta of 1.13.

Valaris (NYSE:VAL) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.32. Valaris had a net margin of 48.50% and a return on equity of 5.71%. The firm had revenue of $483.80 million for the quarter, compared to analysts’ expectations of $484.00 million. On average, equities research analysts forecast that Valaris Limited will post 4.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on VAL. StockNews.com raised shares of Valaris to a “sell” rating in a research note on Friday, March 15th. Barclays cut their price objective on shares of Valaris from $105.00 to $102.00 and set an “overweight” rating on the stock in a report on Tuesday, March 5th. TheStreet upgraded shares of Valaris from a “c” rating to a “b-” rating in a report on Thursday, February 22nd. Finally, Evercore ISI cut their price objective on shares of Valaris from $107.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $100.00.

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.