Platinum Investment Management Ltd. trimmed its position in shares of Valaris Limited (NYSE:VAL – Free Report) by 0.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 781,539 shares of the company’s stock after selling 1,836 shares during the quarter. Valaris makes up about 1.7% of Platinum Investment Management Ltd.’s investment portfolio, making the stock its 19th biggest position. Platinum Investment Management Ltd.’s holdings in Valaris were worth $49,182,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Valaris by 5.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,905 shares of the company’s stock valued at $319,000 after purchasing an additional 239 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Valaris by 0.6% during the fourth quarter. Legal & General Group Plc now owns 40,980 shares of the company’s stock valued at $2,771,000 after purchasing an additional 260 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Valaris by 7.8% during the second quarter. PNC Financial Services Group Inc. now owns 3,635 shares of the company’s stock valued at $229,000 after purchasing an additional 263 shares during the last quarter. Profund Advisors LLC grew its stake in shares of Valaris by 2.4% during the second quarter. Profund Advisors LLC now owns 12,888 shares of the company’s stock valued at $811,000 after purchasing an additional 302 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in Valaris by 6.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,545 shares of the company’s stock valued at $349,000 after buying an additional 323 shares during the period. 89.57% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities analysts recently weighed in on the stock. Benchmark restated a “buy” rating and issued a $90.00 price objective on shares of Valaris in a report on Tuesday, November 7th. Barclays upgraded shares of Valaris from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $84.00 to $106.00 in a report on Thursday, November 9th. TheStreet lowered shares of Valaris from a “b-” rating to a “c” rating in a report on Wednesday, August 2nd. Finally, Citigroup cut their target price on shares of Valaris from $113.00 to $103.00 and set a “buy” rating on the stock in a report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.25.
Valaris Stock Down 0.7 %
Shares of NYSE:VAL traded down $0.48 during midday trading on Tuesday, reaching $66.70. 190,108 shares of the company were exchanged, compared to its average volume of 910,874. Valaris Limited has a fifty-two week low of $54.13 and a fifty-two week high of $80.00. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.90. The stock has a fifty day simple moving average of $70.94 and a two-hundred day simple moving average of $68.25. The firm has a market cap of $4.86 billion, a PE ratio of 86.82 and a beta of 1.32.
Valaris (NYSE:VAL – Get Free Report) last issued its quarterly earnings data on Monday, November 6th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Valaris had a return on equity of 5.24% and a net margin of 3.43%. The company had revenue of $455.10 million for the quarter.
Valaris Limited provides offshore contract drilling services to the international oil and gas industry. The company owns an offshore drilling rig fleet, which include drillships, dynamically positioned semisubmersible rigs, moored semisubmersible rig, and jackup rigs. It serves international, government-owned, and independent oil and gas companies in the Gulf of Mexico, South America, the North Sea, the Middle East, Africa, and Asia Pacific.
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