Geode Capital Management LLC Has $66.18 Million Holdings in Valaris Limited (NYSE:VAL)

Geode Capital Management LLC cut its stake in Valaris Limited (NYSE:VAL) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,495,515 shares of the company’s stock after selling 24,129 shares during the period. Geode Capital Management LLC’s holdings in Valaris were worth $66,177,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Signaturefd LLC grew its holdings in Valaris by 395.0% in the fourth quarter. Signaturefd LLC now owns 1,475 shares of the company’s stock worth $65,000 after purchasing an additional 1,177 shares during the period. Blue Trust Inc. grew its stake in shares of Valaris by 41.0% in 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 in the last quarter. KBC Group NV increased its position in shares of Valaris by 63.3% during the 4th quarter. KBC Group NV now owns 2,929 shares of the company’s stock valued at $130,000 after purchasing an additional 1,135 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Valaris in the 4th quarter worth approximately $176,000. Finally, Spire Wealth Management lifted 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 buying an additional 821 shares during the last quarter. 96.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

VAL has been the topic of a number of recent research reports. Citigroup dropped their price target on shares of Valaris from $48.00 to $44.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Barclays lowered their price target on shares of Valaris from $46.00 to $35.00 and set an “equal weight” rating on the stock in a report on Monday, April 7th. StockNews.com raised shares of Valaris to a “sell” rating in a research note on Thursday, February 20th. Susquehanna lowered their target price on shares of Valaris from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Finally, Evercore ISI lowered shares of Valaris from an “outperform” rating to an “in-line” rating and reduced their price target for the company from $87.00 to $59.00 in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $52.50.

Valaris Stock Performance

Valaris stock opened at $31.61 on Friday. Valaris Limited has a fifty-two week low of $27.15 and a fifty-two week high of $84.20. The firm’s fifty day moving average price is $38.72 and its 200-day moving average price is $44.79. The stock has a market cap of $2.25 billion, a P/E ratio of 6.15 and a beta of 1.06. 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 issued its earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.68. The business had revenue of $584.40 million during the quarter, compared to analyst estimates of $578.01 million. Valaris had a return on equity of 17.40% and a net margin of 15.81%. On average, equities research analysts expect that Valaris Limited will post 3.96 earnings per share for the current fiscal 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.