74,263 Shares in Valaris Limited (NYSE:VAL) Acquired by Evergreen Capital Management LLC

Evergreen Capital Management LLC acquired a new stake in Valaris Limited (NYSE:VAL) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 74,263 shares of the company’s stock, valued at approximately $3,285,000. Evergreen Capital Management LLC owned about 0.10% of Valaris at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of VAL. Norges Bank purchased a new position in Valaris in the fourth quarter valued at $31,949,000. Renaissance Technologies LLC purchased a new position in shares of Valaris in the 4th quarter valued at about $21,747,000. River Road Asset Management LLC raised its position in shares of Valaris by 178.9% during the 4th quarter. River Road Asset Management LLC now owns 409,196 shares of the company’s stock worth $18,103,000 after acquiring an additional 262,468 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in Valaris during the fourth quarter worth approximately $10,578,000. Finally, Invesco Ltd. boosted its holdings in Valaris by 68.9% in the fourth quarter. Invesco Ltd. now owns 584,348 shares of the company’s stock valued at $25,852,000 after purchasing an additional 238,399 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on VAL. Citigroup cut their price objective on shares of Valaris from $48.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. StockNews.com raised shares of Valaris to a “sell” rating in a research report on Thursday, February 20th. Barclays dropped their price objective on Valaris from $46.00 to $35.00 and set an “equal weight” rating on the stock in a report on Monday, April 7th. Evercore ISI downgraded Valaris from an “outperform” rating to an “in-line” rating and reduced their target price for the company from $87.00 to $59.00 in a report on Wednesday, January 15th. Finally, Susquehanna dropped their price target on Valaris from $47.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, Valaris currently has an average rating of “Hold” and an average price target of $50.33.

Valaris Stock Down 0.9 %

VAL opened at $30.09 on Thursday. Valaris Limited has a 52 week low of $27.15 and a 52 week high of $84.20. The business has a 50 day moving average price of $37.76 and a two-hundred day moving average price of $44.35. 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 company has a market cap of $2.14 billion, a PE ratio of 5.85 and a beta of 1.06.

Valaris (NYSE:VAL) last released its quarterly earnings results on Wednesday, February 19th. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.20 by $0.68. Valaris had a return on equity of 17.40% and a net margin of 15.81%. The business had revenue of $584.40 million during the quarter, compared to analysts’ expectations of $578.01 million. As a group, research analysts anticipate that Valaris Limited will post 3.96 EPS for the current 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.