Valaris Limited $VAL Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its stake in shares of Valaris Limited (NYSE:VAL) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 105,388 shares of the company’s stock after selling 8,009 shares during the quarter. Legal & General Group Plc’s holdings in Valaris were worth $5,312,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in shares of Valaris by 8.2% during the third quarter. Dimensional Fund Advisors LP now owns 3,028,408 shares of the company’s stock valued at $147,699,000 after acquiring an additional 229,956 shares during the period. Schf GPE LLC acquired a new position in shares of Valaris during the second quarter valued at approximately $77,675,000. American Century Companies Inc. increased its stake in shares of Valaris by 87.1% during the third quarter. American Century Companies Inc. now owns 1,274,038 shares of the company’s stock valued at $62,135,000 after acquiring an additional 592,971 shares during the period. Waverton Investment Management Ltd increased its stake in shares of Valaris by 0.4% during the third quarter. Waverton Investment Management Ltd now owns 963,912 shares of the company’s stock valued at $46,996,000 after acquiring an additional 4,056 shares during the period. Finally, Goehring & Rozencwajg Associates LLC increased its stake in shares of Valaris by 108.9% during the third quarter. Goehring & Rozencwajg Associates LLC now owns 902,440 shares of the company’s stock valued at $44,012,000 after acquiring an additional 470,419 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. BTIG Research lowered shares of Valaris from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. Weiss Ratings lowered shares of Valaris from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Susquehanna raised their price objective on shares of Valaris from $96.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday, April 7th. Finally, Pareto Securities lowered shares of Valaris from a “hold” rating to a “sell” rating and set a $80.00 price target on the stock. in a research report on Monday, February 23rd. Nine research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $63.19.

Valaris Trading Down 0.2%

Valaris stock opened at $88.35 on Monday. The company has a 50 day moving average price of $97.04 and a 200 day moving average price of $78.42. Valaris Limited has a 52 week low of $40.17 and a 52 week high of $114.12. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of 6.19 and a beta of 0.91.

Valaris (NYSE:VAL) last issued its earnings results on Monday, May 4th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.19). The company had revenue of $465.40 million for the quarter, compared to analyst estimates of $443.75 million. Valaris had a net margin of 45.37% and a return on equity of 12.31%. The company’s quarterly revenue was down 25.0% on a year-over-year basis. During the same period last year, the business earned ($0.53) EPS. Research analysts forecast that Valaris Limited will post 3.18 EPS for the current year.

Valaris Profile

Valaris PLC is a leading provider of offshore drilling services to the global energy industry. The company operates a diverse fleet of mobile offshore drilling units, including drillships, semisubmersibles and jackup rigs, designed to support exploration and production activities in deepwater, ultra-deepwater and harsh‐environment settings. Valaris serves a wide range of international oil and gas customers, offering turnkey drilling solutions, project management and advanced technology integration to enhance operational efficiency and safety.

Headquartered in Houston, Texas, Valaris maintains a significant presence in key offshore basins around the world.