Moody National Bank Trust Division bought a new position in Valaris Limited (NYSE:VAL – Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,395 shares of the company’s stock, valued at approximately $416,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Lingotto Investment Management LLP boosted its position in Valaris by 1.2% during the 2nd quarter. Lingotto Investment Management LLP now owns 3,040,610 shares of the company’s stock worth $226,525,000 after acquiring an additional 36,870 shares during the period. State Street Corp lifted its position in shares of Valaris by 4.8% in the third quarter. State Street Corp now owns 2,446,006 shares of the company’s stock worth $136,365,000 after purchasing an additional 112,216 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Valaris by 5.9% during the second quarter. Marshall Wace LLP now owns 1,882,846 shares of the company’s stock worth $140,272,000 after purchasing an additional 105,330 shares during the period. Geode Capital Management LLC grew its position in Valaris by 4.6% during the third quarter. Geode Capital Management LLC now owns 1,519,644 shares of the company’s stock valued at $84,736,000 after purchasing an additional 66,229 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Valaris by 23.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company’s stock valued at $88,573,000 after buying an additional 225,283 shares during the period. Hedge funds and other institutional investors own 96.74% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. started coverage on shares of Valaris in a research note on Friday, December 6th. They set an “underweight” rating and a $40.00 target price for the company. Benchmark lowered Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Citigroup downgraded Valaris from a “buy” rating to a “neutral” rating and cut their price target for the stock from $58.00 to $47.00 in a research note on Monday, December 9th. Susquehanna lowered their price target on Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Finally, Barclays reaffirmed an “equal weight” rating and set a $49.00 price objective (down previously from $59.00) on shares of Valaris in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $64.33.
Valaris Trading Up 4.7 %
Shares of VAL stock opened at $48.50 on Wednesday. The business’s 50 day moving average is $45.59 and its two-hundred day moving average is $55.99. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.51. Valaris Limited has a 12 month low of $39.90 and a 12 month high of $84.20. The company has a market cap of $3.45 billion, a PE ratio of 3.33 and a beta of 1.10.
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.
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