City Center Advisors LLC Cuts Position in Valaris Limited (NYSE:VAL)

City Center Advisors LLC decreased its position in Valaris Limited (NYSE:VAL) by 11.3% during the first quarter, Holdings Channel reports. The firm owned 6,398 shares of the company’s stock after selling 818 shares during the quarter. City Center Advisors LLC’s holdings in Valaris were worth $251,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. UMB Bank n.a. purchased a new stake in shares of Valaris during the first quarter worth $44,000. Fermata Advisors LLC increased its position in shares of Valaris by 19.9% during the first quarter. Fermata Advisors LLC now owns 5,632 shares of the company’s stock worth $221,000 after acquiring an additional 936 shares during the period. NBC Securities Inc. increased its position in shares of Valaris by 124,309.1% during the first quarter. NBC Securities Inc. now owns 13,685 shares of the company’s stock worth $537,000 after acquiring an additional 13,674 shares during the period. 180 Wealth Advisors LLC increased its position in shares of Valaris by 77.1% during the first quarter. 180 Wealth Advisors LLC now owns 16,376 shares of the company’s stock worth $643,000 after acquiring an additional 7,128 shares during the period. Finally, Lowe Wealth Advisors LLC purchased a new stake in shares of Valaris during the first quarter worth $28,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Valaris Price Performance

VAL stock opened at $41.66 on Friday. The business has a 50 day moving average price of $35.18 and a 200 day moving average price of $40.50. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 8.11 and a beta of 1.13. Valaris Limited has a fifty-two week low of $27.15 and a fifty-two week high of $84.20. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48.

Valaris (NYSE:VAL) last released its quarterly earnings data on Wednesday, April 30th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($1.63). Valaris had a net margin of 15.81% and a return on equity of 17.40%. The company had revenue of $620.70 million during the quarter, compared to analyst estimates of $582.87 million. The business’s revenue was up 6.2% compared to the same quarter last year. Equities research analysts anticipate that Valaris Limited will post 3.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on VAL shares. Wall Street Zen raised Valaris to a “sell” rating in a research report on Tuesday, May 13th. Susquehanna dropped their target price on Valaris from $47.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Citigroup cut their price target on Valaris from $48.00 to $44.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Barclays upped their price objective on Valaris from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Finally, Evercore ISI cut their target price on Valaris from $55.00 to $50.00 and set an “in-line” rating on the stock in a research report on Friday, May 2nd. Two investment 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, the stock currently has a consensus rating of “Hold” and an average target price of $49.17.

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.