Lingotto Investment Management LLP Has $160.91 Million Position in Valaris Limited (NYSE:VAL)

Lingotto Investment Management LLP increased its stake in Valaris Limited (NYSE:VAL) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,637,207 shares of the company’s stock after purchasing an additional 87,420 shares during the period. Valaris makes up 4.3% of Lingotto Investment Management LLP’s holdings, making the stock its 7th largest position. Lingotto Investment Management LLP owned approximately 0.05% of Valaris worth $160,910,000 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. Waverton Investment Management Ltd boosted its position in shares of Valaris by 20.4% during the third quarter. Waverton Investment Management Ltd now owns 670,885 shares of the company’s stock worth $37,412,000 after buying an additional 113,509 shares during the period. State Street Corp boosted its position in Valaris by 4.8% during the 3rd quarter. State Street Corp now owns 2,446,006 shares of the company’s stock worth $136,365,000 after acquiring an additional 112,216 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Valaris by 20.6% in the fourth quarter. Bank of New York Mellon Corp now owns 581,106 shares of the company’s stock valued at $25,708,000 after purchasing an additional 99,297 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Valaris in the third quarter worth $3,940,000. Finally, Geode Capital Management LLC grew its position in Valaris by 4.6% in the third quarter. Geode Capital Management LLC now owns 1,519,644 shares of the company’s stock valued at $84,736,000 after purchasing an additional 66,229 shares in the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on VAL. StockNews.com raised Valaris to a “sell” rating in a report on Thursday, February 20th. Barclays decreased their price objective on shares of Valaris from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday. 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. Citigroup lifted their price target on Valaris from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. began coverage on Valaris in a research note on Friday, December 6th. They issued an “underweight” rating and a $40.00 price objective on the stock. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, Valaris currently has an average rating of “Hold” and a consensus target price of $55.00.

Valaris Price Performance

Shares of NYSE:VAL opened at $38.67 on Wednesday. The firm has a 50 day simple moving average of $45.29 and a 200 day simple moving average of $50.18. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 7.52 and a beta of 1.10. Valaris Limited has a one year low of $38.50 and a one year high of $84.20. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.59 and a quick ratio of 1.61.

Valaris (NYSE:VAL) last released its quarterly earnings data on Wednesday, February 19th. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.68. The company had revenue of $584.40 million for the quarter, compared to the consensus estimate of $578.01 million. Valaris had a return on equity of 17.40% and a net margin of 15.81%. Research analysts predict that Valaris Limited will post 3.96 earnings per share for the current fiscal 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.