Clearbridge Investments LLC Acquires 5,173 Shares of Valaris Limited (NYSE:VAL)

Clearbridge Investments LLC boosted its holdings in shares of Valaris Limited (NYSE:VAL) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 232,070 shares of the company’s stock after acquiring an additional 5,173 shares during the quarter. Clearbridge Investments LLC owned 0.32% of Valaris worth $17,466,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Valaris by 7.1% in the third quarter. Vanguard Group Inc. now owns 1,816,177 shares of the company’s stock worth $136,177,000 after purchasing an additional 120,550 shares during the last quarter. SG Americas Securities LLC grew its stake in Valaris by 19.6% in the 4th quarter. SG Americas Securities LLC now owns 2,112 shares of the company’s stock worth $145,000 after acquiring an additional 346 shares in the last quarter. Raymond James & Associates increased its position in shares of Valaris by 3.1% during the fourth quarter. Raymond James & Associates now owns 34,353 shares of the company’s stock worth $2,356,000 after acquiring an additional 1,026 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in shares of Valaris by 6.7% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 16,000 shares of the company’s stock valued at $1,097,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Valaris by 2.3% during the fourth quarter. Arizona State Retirement System now owns 18,614 shares of the company’s stock valued at $1,276,000 after acquiring an additional 419 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

Valaris Stock Down 3.7 %

NYSE:VAL traded down $2.95 during midday trading on Wednesday, reaching $76.86. 871,157 shares of the stock traded hands, compared to its average volume of 928,469. The stock has a market capitalization of $5.57 billion, a PE ratio of 6.73 and a beta of 1.21. Valaris Limited has a 12-month low of $60.06 and a 12-month high of $80.77. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.57 and a current ratio of 1.57. The business has a 50-day moving average of $74.66 and a two-hundred day moving average of $70.54.

Valaris (NYSE:VAL) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). Valaris had a net margin of 44.93% and a return on equity of 3.81%. The business had revenue of $525.00 million for the quarter, compared to analysts’ expectations of $503.00 million. On average, equities analysts forecast that Valaris Limited will post 4.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Pickering Energy Partners downgraded Valaris from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 16th. StockNews.com upgraded Valaris to a “sell” rating in a report on Friday, April 26th. Barclays reduced their price target on shares of Valaris from $102.00 to $98.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Finally, Benchmark reaffirmed a “buy” rating and set a $90.00 target price on shares of Valaris in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.20.

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.