Diametric Capital LP Takes Position in Valaris Limited (NYSE:VAL)

Diametric Capital LP purchased a new position in shares of Valaris Limited (NYSE:VAL) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 7,241 shares of the company’s stock, valued at approximately $320,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of VAL. Arizona State Retirement System raised its holdings in shares of Valaris by 1.3% in the fourth quarter. Arizona State Retirement System now owns 19,002 shares of the company’s stock valued at $841,000 after buying an additional 237 shares during the last quarter. Quarry LP purchased a new stake in Valaris during the 3rd quarter valued at approximately $25,000. Xponance Inc. lifted its position in Valaris by 5.5% during the 4th quarter. Xponance Inc. now owns 9,273 shares of the company’s stock worth $410,000 after acquiring an additional 487 shares during the period. State of Michigan Retirement System grew its stake in shares of Valaris by 3.3% in the 4th quarter. State of Michigan Retirement System now owns 15,500 shares of the company’s stock valued at $686,000 after purchasing an additional 500 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Valaris by 41.0% in the 4th quarter. Blue Trust Inc. now owns 1,758 shares of the company’s stock valued at $78,000 after purchasing an additional 511 shares during the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Valaris Stock Performance

Shares of VAL opened at $40.66 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48. Valaris Limited has a 52-week low of $31.15 and a 52-week high of $84.20. The company has a 50-day simple moving average of $41.91 and a 200-day simple moving average of $46.30. The company has a market capitalization of $2.89 billion, a PE ratio of 7.91 and a beta of 1.16.

Valaris (NYSE:VAL) last issued its earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.68. The company had revenue of $584.40 million during the quarter, compared to analysts’ expectations of $578.01 million. Valaris had a net margin of 15.81% and a return on equity of 17.40%. Equities research analysts predict that Valaris Limited will post 3.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on VAL. StockNews.com upgraded Valaris to a “sell” rating in a research note on Thursday, February 20th. Barclays reduced their target price on shares of Valaris from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 25th. Citigroup dropped their price target on shares of Valaris from $48.00 to $44.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. JPMorgan Chase & Co. started coverage on shares of Valaris in a report on Friday, December 6th. They set an “underweight” rating and a $40.00 price target for the company. Finally, Evercore ISI lowered Valaris from an “outperform” rating to an “in-line” rating and lowered their price objective for the company from $87.00 to $59.00 in a report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $54.33.

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.