Valaris Limited (NYSE:VAL) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lowered its stake in shares of Valaris Limited (NYSE:VAL) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 727,336 shares of the company’s stock after selling 2,234 shares during the period. Voya Investment Management LLC owned 1.02% of Valaris worth $32,177,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System grew its holdings in shares of Valaris by 1.3% during the fourth quarter. Arizona State Retirement System now owns 19,002 shares of the company’s stock worth $841,000 after buying an additional 237 shares in the last quarter. Xponance Inc. grew its stake in Valaris by 5.5% in the 4th quarter. Xponance Inc. now owns 9,273 shares of the company’s stock worth $410,000 after acquiring an additional 487 shares during the period. State of Michigan Retirement System raised its holdings in Valaris by 3.3% in the 4th quarter. State of Michigan Retirement System now owns 15,500 shares of the company’s stock valued at $686,000 after acquiring an additional 500 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Valaris by 41.0% during the 4th quarter. Blue Trust Inc. now owns 1,758 shares of the company’s stock worth $78,000 after purchasing an additional 511 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of Valaris by 40.1% during the fourth quarter. Covestor Ltd now owns 1,911 shares of the company’s stock worth $85,000 after purchasing an additional 547 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Analyst Upgrades and Downgrades

VAL has been the subject of several analyst reports. Citigroup dropped their target price on Valaris from $48.00 to $44.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Evercore ISI downgraded shares of Valaris from an “outperform” rating to an “in-line” rating and lowered their target price for the company from $87.00 to $59.00 in a report on Wednesday, January 15th. StockNews.com raised shares of Valaris to a “sell” rating in a research note on Thursday, February 20th. Susquehanna lowered their price objective on shares of Valaris from $47.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Finally, Barclays cut their target price on Valaris from $46.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $50.33.

Valaris Stock Performance

NYSE:VAL opened at $32.96 on Friday. The firm’s fifty day simple moving average is $35.79 and its 200 day simple moving average is $43.20. The company has a current ratio of 1.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.48. Valaris Limited has a twelve month low of $27.15 and a twelve month high of $84.20. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 6.41 and a beta of 1.06.

Valaris (NYSE:VAL) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.68. Valaris had a return on equity of 17.40% and a net margin of 15.81%. The company had revenue of $584.40 million for the quarter, compared to analysts’ expectations of $578.01 million. As a group, equities research analysts expect that Valaris Limited will post 3.96 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.