Hosking Partners LLP Acquires 85,891 Shares of Valaris Limited (NYSE:VAL)

Hosking Partners LLP increased its holdings in Valaris Limited (NYSE:VAL) by 33.6% during the fourth quarter, Holdings Channel reports. The firm owned 341,842 shares of the company’s stock after acquiring an additional 85,891 shares during the quarter. Hosking Partners LLP’s holdings in Valaris were worth $15,123,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VAL. Lingotto Investment Management LLP lifted its holdings in shares of Valaris by 2.5% in the fourth 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 purchased a new stake in Valaris in the 3rd quarter worth $930,000. XTX Topco Ltd purchased a new stake in Valaris in the 3rd quarter worth $1,862,000. Waverton Investment Management Ltd boosted its holdings in shares of Valaris by 20.4% during the 3rd quarter. Waverton Investment Management Ltd now owns 670,885 shares of the company’s stock valued at $37,412,000 after purchasing an additional 113,509 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in shares of Valaris by 19.8% during the third quarter. State of New Jersey Common Pension Fund D now owns 31,391 shares of the company’s stock valued at $1,750,000 after purchasing an additional 5,184 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors.

Valaris Price Performance

VAL stock opened at $36.59 on Friday. The stock has a market cap of $2.60 billion, a PE ratio of 7.12 and a beta of 1.10. Valaris Limited has a 12 month low of $36.55 and a 12 month high of $84.20. The company has a 50-day moving average price of $45.12 and a 200 day moving average price of $49.99. The company has a current ratio of 1.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.48.

Valaris (NYSE:VAL) last announced its 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 return on equity of 17.40% and a net margin of 15.81%. The business had revenue of $584.40 million during the quarter, compared to analyst estimates of $578.01 million. Equities research analysts anticipate that Valaris Limited will post 3.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VAL. Susquehanna dropped their price target on Valaris from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Citigroup raised their target price on shares of Valaris from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. initiated coverage on shares of Valaris in a research note on Friday, December 6th. They set an “underweight” rating and a $40.00 price target on the stock. StockNews.com raised shares of Valaris to a “sell” rating in a research note on Thursday, February 20th. Finally, Evercore ISI downgraded shares of Valaris from an “outperform” rating to an “in-line” rating and lowered their price target for the company from $87.00 to $59.00 in a report on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $55.00.

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.