Shah Capital Management Sells 518 Shares of Valaris Limited (NYSE:VAL)

Shah Capital Management cut its stake in Valaris Limited (NYSE:VAL) by 0.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,600 shares of the company’s stock after selling 518 shares during the quarter. Valaris comprises about 1.1% of Shah Capital Management’s holdings, making the stock its 13th biggest holding. Shah Capital Management owned about 0.17% of Valaris worth $5,380,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Deane Retirement Strategies Inc. increased its stake in shares of Valaris by 0.6% in the 3rd quarter. Deane Retirement Strategies Inc. now owns 40,504 shares of the company’s stock worth $2,259,000 after acquiring an additional 251 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Valaris by 0.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 73,525 shares of the company’s stock worth $5,478,000 after acquiring an additional 427 shares in the last quarter. Quarry LP bought a new position in shares of Valaris in the 3rd quarter worth about $25,000. Saturna Capital Corp increased its stake in shares of Valaris by 4.8% in the 3rd quarter. Saturna Capital Corp now owns 13,290 shares of the company’s stock worth $741,000 after acquiring an additional 604 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of Valaris by 4.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 15,651 shares of the company’s stock worth $873,000 after acquiring an additional 604 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Susquehanna cut their price objective on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Evercore ISI downgraded shares of Valaris from an “outperform” rating to an “in-line” rating and cut their price objective for the company from $87.00 to $59.00 in a research report on Wednesday, January 15th. JPMorgan Chase & Co. started coverage on shares of Valaris in a research report on Friday, December 6th. They set an “underweight” rating and a $40.00 price objective on the stock. Barclays reaffirmed an “equal weight” rating and set a $49.00 price target (down previously from $59.00) on shares of Valaris in a report on Wednesday, December 18th. Finally, Benchmark downgraded shares of Valaris from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, Valaris currently has an average rating of “Hold” and an average price target of $56.67.

Valaris Price Performance

Shares of NYSE:VAL opened at $49.01 on Monday. The firm’s 50 day moving average price is $45.30 and its 200-day moving average price is $54.74. Valaris Limited has a twelve month low of $39.90 and a twelve month high of $84.20. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $3.49 billion, a PE ratio of 3.37 and a beta of 1.10.

Valaris (NYSE:VAL) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.48). Valaris had a return on equity of 13.67% and a net margin of 47.52%. The business had revenue of $643.10 million during the quarter, compared to the consensus estimate of $588.00 million. During the same quarter last year, the company earned $0.17 EPS. Equities research analysts expect that Valaris Limited will post 4.59 EPS for the current 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.