Old West Investment Management LLC Takes Position in Valaris Limited (NYSE:VAL)

Old West Investment Management LLC bought a new position in shares of Valaris Limited (NYSE:VAL) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 35,535 shares of the company’s stock, valued at approximately $1,572,000.

Several other institutional investors have also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Valaris by 12.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,348 shares of the company’s stock valued at $856,000 after buying an additional 1,713 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Valaris by 2.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,292 shares of the company’s stock worth $6,985,000 after acquiring an additional 2,598 shares during the period. Verition Fund Management LLC raised its position in Valaris by 92.2% during the third quarter. Verition Fund Management LLC now owns 26,525 shares of the company’s stock valued at $1,479,000 after acquiring an additional 12,725 shares in the last quarter. Centiva Capital LP acquired a new position in Valaris in the third quarter valued at approximately $930,000. Finally, HighTower Advisors LLC boosted its position in Valaris by 202.7% in the 3rd quarter. HighTower Advisors LLC now owns 10,490 shares of the company’s stock worth $591,000 after purchasing an additional 7,024 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Valaris Stock Down 14.5 %

VAL opened at $29.49 on Friday. 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 twelve month low of $29.40 and a twelve month high of $84.20. The company has a market cap of $2.09 billion, a PE ratio of 5.74 and a beta of 1.16. The company has a 50-day moving average price of $41.07 and a 200 day moving average price of $46.00.

Valaris (NYSE:VAL) last released its earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.68. The business had revenue of $584.40 million for the quarter, compared to the consensus estimate of $578.01 million. Valaris had a return on equity of 17.40% and a net margin of 15.81%. Sell-side analysts expect that Valaris Limited will post 3.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on VAL. Susquehanna cut their target price on shares of Valaris from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Barclays decreased their price objective on shares of Valaris from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 25th. StockNews.com upgraded Valaris to a “sell” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. initiated coverage on Valaris in a report on Friday, December 6th. They issued an “underweight” rating and a $40.00 price target for the company. Finally, Evercore ISI downgraded Valaris from an “outperform” rating to an “in-line” rating and lowered their price target for the stock from $87.00 to $59.00 in a research report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average 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.