Wellington Management Group LLP Has $41.83 Million Stock Holdings in Valaris Limited (NYSE:VAL)

Wellington Management Group LLP decreased its stake in Valaris Limited (NYSE:VAL) by 34.6% in the fourth quarter, HoldingsChannel reports. The firm owned 945,508 shares of the company’s stock after selling 500,059 shares during the period. Wellington Management Group LLP’s holdings in Valaris were worth $41,829,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of VAL. Quarry LP acquired a new position in shares of Valaris in the third quarter worth about $25,000. Signaturefd LLC lifted its position in shares of Valaris by 395.0% in the 4th quarter. Signaturefd LLC now owns 1,475 shares of the company’s stock valued at $65,000 after acquiring an additional 1,177 shares in the last quarter. Blue Trust Inc. boosted its stake in Valaris by 41.0% in the 4th quarter. Blue Trust Inc. now owns 1,758 shares of the company’s stock worth $78,000 after purchasing an additional 511 shares during the period. KBC Group NV grew its position in Valaris by 63.3% during the 4th quarter. KBC Group NV now owns 2,929 shares of the company’s stock worth $130,000 after purchasing an additional 1,135 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in Valaris during the 4th quarter valued at $176,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on VAL shares. Evercore ISI cut Valaris from an “outperform” rating to an “in-line” rating and decreased their target price for the stock from $87.00 to $59.00 in a research report on Wednesday, January 15th. Barclays decreased their price objective on Valaris from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 25th. StockNews.com upgraded Valaris to a “sell” rating in a report on Thursday, February 20th. Citigroup decreased their price target on shares of Valaris from $48.00 to $44.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Finally, Susquehanna dropped their price objective on shares of Valaris from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $54.33.

Valaris Price Performance

Shares of VAL opened at $29.49 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.61 and a current ratio of 1.59. The firm has a market cap of $2.09 billion, a PE ratio of 5.74 and a beta of 1.06. The firm’s 50 day moving average price is $41.07 and its 200 day moving average price is $45.92. Valaris Limited has a twelve month low of $29.40 and a twelve month high of $84.20.

Valaris (NYSE:VAL) last released its quarterly earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share 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 the consensus estimate of $578.01 million. Valaris had a net margin of 15.81% and a return on equity of 17.40%. As a group, research analysts expect that Valaris Limited will post 3.96 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.