Charles Schwab Investment Management Inc. Has $35.11 Million Holdings in Valaris Limited (NYSE:VAL)

Charles Schwab Investment Management Inc. cut its stake in Valaris Limited (NYSE:VAL) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 793,593 shares of the company’s stock after selling 3,467 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Valaris were worth $35,109,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lingotto Investment Management LLP lifted its position in Valaris by 2.5% during the 4th quarter. Lingotto Investment Management LLP now owns 3,637,207 shares of the company’s stock worth $160,910,000 after buying an additional 87,420 shares in the last quarter. Centiva Capital LP bought a new stake in Valaris during the 3rd quarter worth about $930,000. XTX Topco Ltd bought a new stake in Valaris during the 3rd quarter worth about $1,862,000. State of New Jersey Common Pension Fund D lifted its position in Valaris by 19.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 31,391 shares of the company’s stock worth $1,750,000 after buying an additional 5,184 shares in the last quarter. Finally, Mirabella Financial Services LLP lifted its position in Valaris by 415.3% during the 3rd quarter. Mirabella Financial Services LLP now owns 40,000 shares of the company’s stock worth $2,230,000 after buying an additional 32,237 shares in the last quarter. 96.74% of the stock is owned by institutional investors.

Valaris Price Performance

VAL stock opened at $38.39 on Monday. The company has a fifty day moving average price of $43.66 and a 200-day moving average price of $47.74. The company has a market capitalization of $2.73 billion, a P/E ratio of 7.47 and a beta of 1.16. Valaris Limited has a 52-week low of $31.15 and a 52-week high of $84.20. 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 released its quarterly earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.68. Valaris had a net margin of 15.81% and a return on equity of 17.40%. The firm had revenue of $584.40 million during the quarter, compared to the consensus estimate of $578.01 million. As a group, equities analysts expect that Valaris Limited will post 3.96 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VAL. Barclays dropped their target price on shares of Valaris from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 25th. Susquehanna dropped their target price on shares of Valaris from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. StockNews.com upgraded shares of Valaris to a “sell” rating in a research note on Thursday, February 20th. Evercore ISI lowered shares of Valaris from an “outperform” rating to an “in-line” rating and decreased their price target for the company from $87.00 to $59.00 in a research note on Wednesday, January 15th. Finally, JPMorgan Chase & Co. started coverage on shares of Valaris in a research note on Friday, December 6th. They issued an “underweight” rating and a $40.00 price target on the stock. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $55.00.

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.