Waverton Investment Management Ltd Has $33.45 Million Stock Holdings in Valaris Limited (NYSE:VAL)

Waverton Investment Management Ltd increased its holdings in shares of Valaris Limited (NYSE:VAL) by 12.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 756,135 shares of the company’s stock after purchasing an additional 85,250 shares during the period. Waverton Investment Management Ltd’s holdings in Valaris were worth $33,451,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Quarry LP acquired a new position in shares of Valaris during the third quarter valued at about $25,000. Blue Trust Inc. increased its position in 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 buying an additional 511 shares in the last quarter. Saturna Capital Corp increased its position in Valaris by 4.8% in the 3rd quarter. Saturna Capital Corp now owns 13,290 shares of the company’s stock valued at $741,000 after buying an additional 604 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Valaris by 4.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 15,651 shares of the company’s stock worth $873,000 after buying an additional 604 shares during the period. Finally, Sigma Planning Corp boosted its holdings in Valaris by 16.5% in the third quarter. Sigma Planning Corp now owns 4,728 shares of the company’s stock worth $264,000 after acquiring an additional 670 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on VAL. Evercore ISI downgraded Valaris from an “outperform” rating to an “in-line” rating and decreased their price objective for the company from $87.00 to $59.00 in a report on Wednesday, January 15th. 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 for the company. Citigroup raised their price objective on shares of Valaris from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Susquehanna decreased their target price on shares of Valaris from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday. Finally, StockNews.com upgraded shares of Valaris to a “sell” rating in a report on Thursday. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, Valaris has a consensus rating of “Hold” and an average target price of $55.50.

Valaris Price Performance

VAL opened at $41.80 on Monday. Valaris Limited has a 1 year low of $39.90 and a 1 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. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 8.13 and a beta of 1.10. The firm’s fifty day moving average price is $45.42 and its two-hundred day moving average price is $50.53.

Valaris (NYSE:VAL) last released its quarterly earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.68. Valaris had a net margin of 15.81% and a return on equity of 17.40%. The company had revenue of $584.40 million for the quarter, compared to analyst estimates of $578.01 million. As a group, analysts anticipate 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.