Clearbridge Investments LLC Raises Stock Holdings in Valaris Limited (NYSE:VAL)

Clearbridge Investments LLC boosted its stake in shares of Valaris Limited (NYSE:VAL) by 2.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 232,070 shares of the company’s stock after buying an additional 5,173 shares during the quarter. Clearbridge Investments LLC’s holdings in Valaris were worth $17,466,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Anthracite Investment Company Inc. boosted its position in shares of Valaris by 30.4% during the 1st quarter. Anthracite Investment Company Inc. now owns 56,081 shares of the company’s stock worth $4,221,000 after purchasing an additional 13,081 shares during the period. ProShare Advisors LLC boosted its position in shares of Valaris by 3.4% during the first quarter. ProShare Advisors LLC now owns 13,760 shares of the company’s stock worth $1,036,000 after buying an additional 456 shares during the period. Qsemble Capital Management LP acquired a new stake in shares of Valaris in the first quarter valued at $302,000. Headlands Technologies LLC purchased a new stake in shares of Valaris in the 1st quarter valued at $149,000. Finally, Allegheny Financial Group LTD lifted its stake in Valaris by 111.3% during the 1st quarter. Allegheny Financial Group LTD now owns 9,213 shares of the company’s stock worth $693,000 after acquiring an additional 4,853 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Benchmark reiterated a “buy” rating and set a $90.00 price target on shares of Valaris in a research note on Thursday, May 2nd. Pickering Energy Partners downgraded shares of Valaris from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 16th. Barclays decreased their price target on shares of Valaris from $102.00 to $98.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Finally, StockNews.com raised Valaris to a “sell” rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Valaris has a consensus rating of “Moderate Buy” and a consensus target price of $99.20.

Valaris Stock Down 3.7 %

Valaris stock traded down $2.95 during trading on Wednesday, reaching $76.86. The stock had a trading volume of 871,157 shares, compared to its average volume of 928,469. Valaris Limited has a 52-week low of $60.06 and a 52-week high of $80.77. The business has a 50 day moving average price of $74.66 and a 200 day moving average price of $70.54. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The stock has a market cap of $5.57 billion, a PE ratio of 6.73 and a beta of 1.21.

Valaris (NYSE:VAL) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). The firm had revenue of $525.00 million for the quarter, compared to analysts’ expectations of $503.00 million. Valaris had a return on equity of 3.81% and a net margin of 44.93%. On average, analysts predict that Valaris Limited will post 4.37 EPS for the current year.

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.