Edgestream Partners L.P. Acquires 62,603 Shares of Valaris Limited (NYSE:VAL)

Edgestream Partners L.P. grew its stake in shares of Valaris Limited (NYSE:VAL) by 106.2% during the 4th quarter, HoldingsChannel reports. The fund owned 121,524 shares of the company’s stock after buying an additional 62,603 shares during the period. Edgestream Partners L.P.’s holdings in Valaris were worth $5,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new stake in Valaris during the 4th quarter worth about $875,000. Arizona State Retirement System increased its position in shares of Valaris by 1.3% during 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 period. Aigen Investment Management LP purchased a new stake in shares of Valaris in the fourth quarter worth about $611,000. M&T Bank Corp boosted its position in shares of Valaris by 31.9% in the fourth quarter. M&T Bank Corp now owns 8,036 shares of the company’s stock valued at $356,000 after acquiring an additional 1,944 shares during the period. Finally, Deuterium Capital Management LLC grew its stake in Valaris by 138.1% during the fourth quarter. Deuterium Capital Management LLC now owns 10,000 shares of the company’s stock valued at $442,000 after acquiring an additional 5,800 shares in the last quarter. 96.74% of the stock is owned by institutional investors.

Valaris Trading Up 7.3 %

Shares of VAL stock opened at $37.38 on Friday. The business has a 50-day moving average price of $44.44 and a two-hundred day moving average price of $48.96. Valaris Limited has a 12-month low of $31.15 and a 12-month high of $84.20. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48. The firm has a market cap of $2.65 billion, a P/E ratio of 7.27 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, topping 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 analysts anticipate that Valaris Limited will post 3.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on VAL shares. JPMorgan Chase & Co. started coverage on shares of Valaris in a research note on Friday, December 6th. They issued an “underweight” rating and a $40.00 target price on the stock. Evercore ISI downgraded Valaris from an “outperform” rating to an “in-line” rating and lowered their price objective for the stock from $87.00 to $59.00 in a research report on Wednesday, January 15th. Barclays reduced their target price on Valaris from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 25th. Susquehanna lowered their price target on Valaris from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Finally, StockNews.com raised Valaris to a “sell” rating in a report on Thursday, February 20th. Two research 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 a consensus target price 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.