Bank of New York Mellon Corp Purchases 99,297 Shares of Valaris Limited (NYSE:VAL)

Bank of New York Mellon Corp boosted its position in shares of Valaris Limited (NYSE:VAL) by 20.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 581,106 shares of the company’s stock after purchasing an additional 99,297 shares during the quarter. Bank of New York Mellon Corp’s holdings in Valaris were worth $25,708,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in VAL. Quarry LP acquired a new stake in shares of Valaris during the 3rd quarter worth approximately $25,000. Blue Trust Inc. grew its holdings in 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 acquiring an additional 511 shares during the period. KBC Group NV grew its holdings in Valaris by 63.3% during the 4th quarter. KBC Group NV now owns 2,929 shares of the company’s stock worth $130,000 after acquiring an additional 1,135 shares during the period. Spire Wealth Management raised its position in shares of Valaris by 24.3% during the 4th quarter. Spire Wealth Management now owns 4,206 shares of the company’s stock valued at $186,000 after acquiring an additional 821 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Valaris in the 3rd quarter valued at $244,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VAL has been the subject of a number of analyst reports. Susquehanna decreased 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. Evercore ISI lowered Valaris from an “outperform” rating to an “in-line” rating and decreased their target price for the stock from $87.00 to $59.00 in a research report on Wednesday, January 15th. StockNews.com upgraded shares of Valaris to a “sell” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. initiated coverage on shares of Valaris in a report on Friday, December 6th. They set an “underweight” rating and a $40.00 price objective for the company. Finally, Citigroup increased their target price on shares of Valaris from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $55.00.

Valaris Trading Up 7.3 %

Shares of NYSE:VAL opened at $37.38 on Monday. The company has a 50-day simple moving average of $44.36 and a 200 day simple moving average of $48.62. Valaris Limited has a 52-week low of $31.15 and a 52-week high of $84.20. The company has a market capitalization of $2.65 billion, a P/E ratio of 7.27 and a beta of 1.16. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.61 and a current ratio of 1.59.

Valaris (NYSE:VAL) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.68. The firm 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%. Sell-side analysts forecast that Valaris Limited will post 3.96 earnings per share 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.