State of Tennessee Department of Treasury Decreases Stock Holdings in Valaris Limited (NYSE:VAL)

State of Tennessee Department of Treasury lowered its stake in shares of Valaris Limited (NYSE:VAL) by 2.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 36,086 shares of the company’s stock after selling 1,018 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Valaris were worth $1,596,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in VAL. Sterling Capital Management LLC lifted its position in Valaris by 518.3% during the fourth quarter. Sterling Capital Management LLC now owns 742 shares of the company’s stock valued at $33,000 after purchasing an additional 622 shares during the period. Signaturefd LLC boosted its stake in shares of Valaris by 395.0% in the 4th quarter. Signaturefd LLC now owns 1,475 shares of the company’s stock worth $65,000 after buying an additional 1,177 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Valaris by 41.0% in the fourth quarter. Blue Trust Inc. now owns 1,758 shares of the company’s stock worth $78,000 after acquiring an additional 511 shares during the period. Quadrant Capital Group LLC grew its holdings in shares of Valaris by 326.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,874 shares of the company’s stock worth $83,000 after acquiring an additional 1,435 shares during the period. Finally, Covestor Ltd increased its position in Valaris by 40.1% during the fourth quarter. Covestor Ltd now owns 1,911 shares of the company’s stock valued at $85,000 after acquiring an additional 547 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Valaris Stock Up 2.5 %

Shares of VAL stock opened at $33.48 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.59 and a quick ratio of 1.61. Valaris Limited has a one year low of $27.15 and a one year high of $84.20. The company’s fifty day moving average price is $35.37 and its 200-day moving average price is $42.87. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 6.51 and a beta of 1.06.

Valaris (NYSE:VAL) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.68. The business had revenue of $584.40 million for the quarter, compared to analysts’ expectations of $578.01 million. Valaris had a return on equity of 17.40% and a net margin of 15.81%. Sell-side analysts expect that Valaris Limited will post 3.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.