Wellington Management Group LLP Has $40.42 Million Position in Valaris Limited (NYSE:VAL)

Wellington Management Group LLP lessened its stake in Valaris Limited (NYSE:VAL) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 589,524 shares of the company’s stock after selling 13,095 shares during the period. Wellington Management Group LLP’s holdings in Valaris were worth $40,424,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of VAL. Covestor Ltd raised its position in shares of Valaris by 184.0% during the third quarter. Covestor Ltd now owns 693 shares of the company’s stock worth $52,000 after acquiring an additional 449 shares during the last quarter. Spire Wealth Management bought a new stake in Valaris during the 4th quarter worth about $101,000. Assetmark Inc. lifted its position in Valaris by 88.3% during the 4th quarter. Assetmark Inc. now owns 1,747 shares of the company’s stock valued at $120,000 after purchasing an additional 819 shares during the period. SG Americas Securities LLC lifted its position in Valaris by 19.6% during the 4th quarter. SG Americas Securities LLC now owns 2,112 shares of the company’s stock valued at $145,000 after purchasing an additional 346 shares during the period. Finally, Shelton Capital Management acquired a new stake in shares of Valaris during the 3rd quarter worth approximately $208,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Valaris Price Performance

Shares of VAL stock opened at $72.84 on Monday. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 6.37 and a beta of 1.24. Valaris Limited has a 12-month low of $55.53 and a 12-month high of $78.92. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The firm has a fifty day moving average of $72.21 and a 200-day moving average of $69.34.

Valaris (NYSE:VAL) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). Valaris had a return on equity of 3.81% and a net margin of 44.93%. The business had revenue of $525.00 million during the quarter, compared to the consensus estimate of $503.00 million. On average, equities research analysts forecast that Valaris Limited will post 4.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

VAL has been the topic of several analyst reports. Barclays cut their price objective on shares of Valaris from $102.00 to $98.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. StockNews.com upgraded Valaris to a “sell” rating in a research report on Friday, April 26th. Finally, Benchmark reiterated a “buy” rating and issued a $90.00 price objective on shares of Valaris in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.20.

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.