Valaris Limited (NYSE:VAL) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its position in Valaris Limited (NYSE:VAL) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,700 shares of the company’s stock after selling 904 shares during the period. New York State Common Retirement Fund’s holdings in Valaris were worth $1,694,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of VAL. Fifth Third Bancorp grew its holdings in Valaris by 120.1% in the 3rd quarter. Fifth Third Bancorp now owns 394 shares of the company’s stock valued at $30,000 after buying an additional 215 shares during the period. Princeton Global Asset Management LLC acquired a new stake in shares of Valaris in the third quarter worth approximately $37,000. Covestor Ltd grew its holdings in Valaris by 184.0% in the third quarter. Covestor Ltd now owns 693 shares of the company’s stock valued at $52,000 after purchasing an additional 449 shares during the period. Assetmark Inc. acquired a new position in Valaris during the third quarter worth approximately $70,000. Finally, Nisa Investment Advisors LLC raised its stake in Valaris by 34.0% during the third quarter. Nisa Investment Advisors LLC now owns 1,578 shares of the company’s stock worth $118,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Wall Street Analysts Forecast Growth

VAL has been the subject of several research reports. Evercore ISI lowered their price objective on shares of Valaris from $107.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. StockNews.com upgraded Valaris to a “sell” rating in a research note on Friday, April 26th. Benchmark reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Valaris in a research note on Thursday, May 2nd. Barclays decreased their target price on Valaris from $105.00 to $102.00 and set an “overweight” rating for the company in a report on Tuesday, March 5th. Finally, TheStreet upgraded shares of Valaris from a “c” rating to a “b-” rating in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $100.00.

Valaris Stock Performance

Shares of VAL stock opened at $74.59 on Friday. The firm has a market capitalization of $5.40 billion, a P/E ratio of 6.53 and a beta of 1.20. Valaris Limited has a 12 month low of $55.53 and a 12 month high of $78.92. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.57. The company’s fifty day moving average price is $70.17 and its two-hundred day moving average price is $67.88.

Valaris (NYSE:VAL) last announced its earnings results on Wednesday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $503.00 million. On average, research analysts anticipate that Valaris Limited will post 4.37 earnings per share for the current fiscal year.

Valaris 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.