Federated Hermes Inc. Cuts Stock Position in Valaris Limited (NYSE:VAL)

Federated Hermes Inc. cut its holdings in shares of Valaris Limited (NYSE:VAL) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,786 shares of the company’s stock after selling 977 shares during the quarter. Federated Hermes Inc.’s holdings in Valaris were worth $534,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in VAL. Xponance Inc. raised its stake in Valaris by 1.9% during the 3rd quarter. Xponance Inc. now owns 9,023 shares of the company’s stock valued at $677,000 after purchasing an additional 172 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Valaris by 2.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 6,940 shares of the company’s stock valued at $520,000 after buying an additional 172 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Valaris by 3.4% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 5,731 shares of the company’s stock worth $430,000 after buying an additional 186 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Valaris by 120.1% during the third quarter. Fifth Third Bancorp now owns 394 shares of the company’s stock worth $30,000 after acquiring an additional 215 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in Valaris by 1.4% during the third quarter. Arizona State Retirement System now owns 18,195 shares of the company’s stock valued at $1,364,000 after acquiring an additional 246 shares in the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Valaris Stock Performance

NYSE VAL opened at $68.25 on Friday. The business’s 50 day moving average price is $69.72 and its 200-day moving average price is $67.90. Valaris Limited has a fifty-two week low of $54.13 and a fifty-two week high of $78.92. The company has a market cap of $4.94 billion, a P/E ratio of 5.90 and a beta of 1.20. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.71 and a current ratio of 1.71.

Valaris (NYSE:VAL) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). Valaris had a return on equity of 4.15% and a net margin of 44.93%. The firm had revenue of $525.00 million for the quarter, compared to analysts’ expectations of $503.00 million. Sell-side analysts predict that Valaris Limited will post 4.75 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.