Retirement Systems of Alabama Purchases 43,368 Shares of Valaris Limited (NYSE:VAL)

Retirement Systems of Alabama boosted its position in shares of Valaris Limited (NYSE:VAL) by 33.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 173,616 shares of the company’s stock after purchasing an additional 43,368 shares during the quarter. Retirement Systems of Alabama owned about 0.24% of Valaris worth $11,905,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of Valaris during the third quarter valued at approximately $132,000. Xponance Inc. increased its holdings in shares of Valaris by 1.9% in the 3rd quarter. Xponance Inc. now owns 9,023 shares of the company’s stock worth $677,000 after purchasing an additional 172 shares in the last quarter. Raymond James & Associates raised its stake in shares of Valaris by 33.6% in the third quarter. Raymond James & Associates now owns 33,327 shares of the company’s stock worth $2,499,000 after purchasing an additional 8,385 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Valaris by 2.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 6,940 shares of the company’s stock worth $520,000 after purchasing an additional 172 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its holdings in shares of Valaris by 98.8% during the third quarter. New York State Teachers Retirement System now owns 34,200 shares of the company’s stock valued at $2,564,000 after purchasing an additional 17,000 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors.

Valaris Price Performance

Shares of NYSE:VAL opened at $64.12 on Thursday. 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 capitalization of $4.64 billion, a PE ratio of 5.49 and a beta of 1.20. The firm’s 50 day moving average price is $69.79 and its 200-day moving average price is $67.92. Valaris Limited has a twelve month low of $54.13 and a twelve month high of $78.92.

Valaris (NYSE:VAL) last announced its 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. The business had revenue of $483.80 million during the quarter, compared to analysts’ expectations of $484.00 million. Valaris had a net margin of 48.50% and a return on equity of 5.71%. Equities research analysts expect that Valaris Limited will post 4.75 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on VAL shares. TheStreet raised Valaris from a “c” rating to a “b-” rating in a research report on Thursday, February 22nd. Evercore ISI reduced their price target on shares of Valaris from $107.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. Barclays lowered their price objective on shares of Valaris from $105.00 to $102.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 5th. Finally, StockNews.com raised shares of Valaris to a “sell” rating in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.00.

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.