Valaris Limited (NYSE:VAL) Shares Bought by Tejara Capital Ltd

Tejara Capital Ltd grew its holdings in shares of Valaris Limited (NYSE:VAL) by 93.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 112,405 shares of the company’s stock after acquiring an additional 54,173 shares during the period. Valaris comprises about 3.2% of Tejara Capital Ltd’s investment portfolio, making the stock its 13th biggest holding. Tejara Capital Ltd’s holdings in Valaris were worth $4,973,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of VAL. River Road Asset Management LLC grew its stake in shares of Valaris by 178.9% during the fourth quarter. River Road Asset Management LLC now owns 409,196 shares of the company’s stock valued at $18,103,000 after acquiring an additional 262,468 shares in the last quarter. State Street Corp grew its stake in 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. Bank of New York Mellon Corp grew its stake in Valaris by 20.6% in the fourth quarter. Bank of New York Mellon Corp now owns 581,106 shares of the company’s stock worth $25,708,000 after purchasing an additional 99,297 shares in the last quarter. Lingotto Investment Management LLP grew its stake in Valaris by 2.5% in the fourth quarter. Lingotto Investment Management LLP now owns 3,637,207 shares of the company’s stock worth $160,910,000 after purchasing an additional 87,420 shares in the last quarter. Finally, Hosking Partners LLP grew its stake in Valaris by 33.6% in the fourth quarter. Hosking Partners LLP now owns 341,842 shares of the company’s stock worth $15,123,000 after purchasing an additional 85,891 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VAL has been the subject of a number of research reports. Evercore ISI downgraded Valaris from an “outperform” rating to an “in-line” rating and decreased their price target for the stock from $87.00 to $59.00 in a research note on Wednesday, January 15th. Citigroup lifted their price target on Valaris from $47.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. initiated coverage on Valaris in a research note on Friday, December 6th. They issued an “underweight” rating and a $40.00 price target for the company. StockNews.com upgraded Valaris to a “sell” rating in a research note on Thursday, February 20th. Finally, Barclays cut their target price on shares of Valaris from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $55.00.

Valaris Stock Performance

Shares of NYSE VAL opened at $38.72 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48. The firm’s 50-day moving average price is $43.53 and its two-hundred day moving average price is $47.59. Valaris Limited has a 52-week low of $31.15 and a 52-week high of $84.20. The stock has a market capitalization of $2.75 billion, a P/E ratio of 7.53 and a beta of 1.16.

Valaris (NYSE:VAL) last issued its earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.68. The firm had revenue of $584.40 million for the quarter, compared to analysts’ expectations of $578.01 million. Valaris had a net margin of 15.81% and a return on equity of 17.40%. As a group, sell-side analysts forecast that Valaris Limited will post 3.96 earnings per share for the current year.

About Valaris

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.