Coronation Fund Managers Ltd. Cuts Holdings in Valaris Limited (NYSE:VAL)

Coronation Fund Managers Ltd. decreased its stake in shares of Valaris Limited (NYSE:VAL) by 88.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 23,903 shares of the company’s stock after selling 187,460 shares during the period. Coronation Fund Managers Ltd.’s holdings in Valaris were worth $1,799,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. SeaCrest Wealth Management LLC increased its holdings in Valaris by 1.0% during the 1st quarter. SeaCrest Wealth Management LLC now owns 16,124 shares of the company’s stock worth $1,213,000 after purchasing an additional 152 shares during the period. Smith Anglin Financial LLC increased its holdings in shares of Valaris by 5.4% in the 1st quarter. Smith Anglin Financial LLC now owns 3,740 shares of the company’s stock valued at $281,000 after acquiring an additional 190 shares during the last quarter. Insight Wealth Strategies LLC increased its holdings in shares of Valaris by 3.0% in the 1st quarter. Insight Wealth Strategies LLC now owns 7,119 shares of the company’s stock valued at $536,000 after acquiring an additional 210 shares during the last quarter. New York State Teachers Retirement System increased its holdings in shares of Valaris by 0.9% in the 1st quarter. New York State Teachers Retirement System now owns 35,100 shares of the company’s stock valued at $2,642,000 after acquiring an additional 300 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Valaris by 19.6% in the 4th quarter. SG Americas Securities LLC now owns 2,112 shares of the company’s stock valued at $145,000 after acquiring an additional 346 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Valaris Stock Performance

Shares of NYSE VAL traded up $0.48 during trading hours on Wednesday, reaching $72.91. The stock had a trading volume of 401,425 shares, compared to its average volume of 923,321. The firm has a market cap of $5.28 billion, a price-to-earnings ratio of 6.29 and a beta of 1.21. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.53. Valaris Limited has a fifty-two week low of $60.06 and a fifty-two week high of $78.92. The firm has a 50-day moving average of $73.37 and a 200-day moving average of $69.94.

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

Analyst Upgrades and Downgrades

VAL has been the topic of a number of recent analyst reports. Barclays dropped their price objective on Valaris from $102.00 to $98.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. Benchmark reiterated a “buy” rating and issued a $90.00 price objective on shares of Valaris in a report on Thursday, May 2nd. Finally, StockNews.com upgraded Valaris to a “sell” rating in a report on Friday, April 26th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $99.20.

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.