Shah Capital Management Sells 518 Shares of Valaris Limited (NYSE:VAL)

Shah Capital Management lowered its stake in shares of Valaris Limited (NYSE:VAL) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,600 shares of the company’s stock after selling 518 shares during the period. Valaris accounts for about 1.1% of Shah Capital Management’s investment portfolio, making the stock its 13th largest position. Shah Capital Management’s holdings in Valaris were worth $5,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of VAL. Quarry LP bought a new stake in shares of Valaris during the third quarter valued at approximately $25,000. Evergreen Capital Management LLC bought a new stake in Valaris in the second quarter worth $204,000. Scientech Research LLC bought a new position in Valaris during the second quarter valued at $211,000. SkyView Investment Advisors LLC bought a new position in Valaris during the second quarter valued at $224,000. Finally, Oppenheimer & Co. Inc. bought a new position in Valaris during the third quarter valued at $244,000. Institutional investors own 96.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on VAL shares. Citigroup cut shares of Valaris from a “buy” rating to a “neutral” rating and cut their price objective for the company from $58.00 to $47.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. started coverage on shares of Valaris in a research report on Friday, December 6th. They set an “underweight” rating and a $40.00 price objective on the stock. Benchmark cut shares of Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Susquehanna cut their price target on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, Barclays restated an “equal weight” rating and issued a $49.00 price target (down from $59.00) on shares of Valaris in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, Valaris currently has a consensus rating of “Hold” and an average target price of $56.67.

Valaris Stock Up 0.8 %

NYSE:VAL opened at $49.01 on Monday. Valaris Limited has a 1-year low of $39.90 and a 1-year high of $84.20. The company has a 50-day moving average of $45.30 and a 200 day moving average of $54.74. The firm has a market cap of $3.49 billion, a PE ratio of 3.37 and a beta of 1.10. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.61.

Valaris (NYSE:VAL) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.48). The business had revenue of $643.10 million during the quarter, compared to analysts’ expectations of $588.00 million. Valaris had a return on equity of 13.67% and a net margin of 47.52%. During the same period last year, the company earned $0.17 earnings per share. As a group, research analysts anticipate that Valaris Limited will post 4.59 EPS for the current fiscal year.

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.