Van ECK Associates Corp lessened its stake in shares of Valaris Limited (NYSE:VAL – Free Report) by 2.9% during the 4th quarter, HoldingsChannel reports. The firm owned 927,620 shares of the company’s stock after selling 27,850 shares during the quarter. Van ECK Associates Corp’s holdings in Valaris were worth $41,038,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in Valaris during the third quarter valued at approximately $25,000. Blue Trust Inc. boosted its position in shares of Valaris by 41.0% in the fourth quarter. Blue Trust Inc. now owns 1,758 shares of the company’s stock valued at $78,000 after acquiring an additional 511 shares during the period. KBC Group NV boosted its position in shares of Valaris by 63.3% in the fourth quarter. KBC Group NV now owns 2,929 shares of the company’s stock valued at $130,000 after acquiring an additional 1,135 shares during the period. Spire Wealth Management boosted its position in shares of Valaris by 24.3% in the fourth 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 period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Valaris in the fourth quarter valued at approximately $243,000. Institutional investors and hedge funds own 96.74% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on VAL shares. Evercore ISI cut Valaris from an “outperform” rating to an “in-line” rating and reduced their price objective for the company from $87.00 to $59.00 in a research report on Wednesday, January 15th. Susquehanna reduced their price objective on Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. JPMorgan Chase & Co. started coverage on Valaris in a research report on Friday, December 6th. They issued an “underweight” rating and a $40.00 price objective for the company. Barclays reissued an “equal weight” rating and issued a $49.00 price objective (down from $59.00) on shares of Valaris in a research report on Wednesday, December 18th. Finally, Citigroup increased their price objective on Valaris from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $56.83.
Valaris Stock Down 0.9 %
Shares of VAL stock opened at $45.70 on Friday. The stock has a market cap of $3.25 billion, a P/E ratio of 3.14 and a beta of 1.10. Valaris Limited has a one year low of $39.90 and a one year high of $84.20. The stock has a fifty day moving average price of $45.45 and a 200 day moving average price of $51.97. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.61.
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.
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