City Center Advisors LLC Decreases Stock Holdings in Valaris Limited (NYSE:VAL)

City Center Advisors LLC trimmed its holdings in Valaris Limited (NYSE:VAL) by 11.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,398 shares of the company’s stock after selling 818 shares during the quarter. City Center Advisors LLC’s holdings in Valaris were worth $251,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Lowe Wealth Advisors LLC purchased a new position in Valaris in the 1st quarter worth approximately $28,000. Quarry LP lifted its stake in Valaris by 51.7% in the 4th quarter. Quarry LP now owns 684 shares of the company’s stock worth $30,000 after purchasing an additional 233 shares in the last quarter. Sterling Capital Management LLC lifted its stake in Valaris by 518.3% in the 4th quarter. Sterling Capital Management LLC now owns 742 shares of the company’s stock worth $33,000 after purchasing an additional 622 shares in the last quarter. UMB Bank n.a. purchased a new position in Valaris in the 1st quarter worth approximately $44,000. Finally, Signaturefd LLC lifted its stake in Valaris by 395.0% in the 4th quarter. Signaturefd LLC now owns 1,475 shares of the company’s stock worth $65,000 after purchasing an additional 1,177 shares in the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on VAL. Barclays raised their target price on shares of Valaris from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Evercore ISI reduced their price target on shares of Valaris from $55.00 to $50.00 and set an “in-line” rating on the stock in a research report on Friday, May 2nd. Susquehanna reduced their price target on shares of Valaris from $47.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Citigroup reduced their price target on shares of Valaris from $48.00 to $44.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Finally, Wall Street Zen raised shares of Valaris to a “sell” rating in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $49.17.

Valaris Stock Up 5.5%

Shares of NYSE VAL opened at $41.66 on Friday. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 8.11 and a beta of 1.13. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48. Valaris Limited has a 52-week low of $27.15 and a 52-week high of $84.20. The business’s 50 day moving average is $35.18 and its two-hundred day moving average is $40.50.

Valaris (NYSE:VAL) last announced its earnings results on Wednesday, April 30th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($1.63). The firm had revenue of $620.70 million during the quarter, compared to analysts’ expectations of $582.87 million. Valaris had a net margin of 15.81% and a return on equity of 17.40%. Valaris’s revenue for the quarter was up 6.2% compared to the same quarter last year. Research analysts predict that Valaris Limited will post 3.96 EPS for the current 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.