Retirement Systems of Alabama Sells 110,470 Shares of Valaris Limited (NYSE:VAL)

Retirement Systems of Alabama trimmed its stake in Valaris Limited (NYSE:VAL) by 58.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 79,555 shares of the company’s stock after selling 110,470 shares during the period. Retirement Systems of Alabama’s holdings in Valaris were worth $3,520,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Centiva Capital LP bought a new stake in Valaris in the third quarter valued at $930,000. XTX Topco Ltd acquired a new position in Valaris in the third quarter worth $1,862,000. Diversify Advisory Services LLC boosted its stake in Valaris by 14.8% in the third quarter. Diversify Advisory Services LLC now owns 137,572 shares of the company’s stock worth $7,670,000 after purchasing an additional 17,690 shares in the last quarter. Waverton Investment Management Ltd boosted its stake in Valaris by 20.4% in the third quarter. Waverton Investment Management Ltd now owns 670,885 shares of the company’s stock worth $37,412,000 after purchasing an additional 113,509 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in Valaris by 19.8% in the third quarter. State of New Jersey Common Pension Fund D now owns 31,391 shares of the company’s stock worth $1,750,000 after purchasing an additional 5,184 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors.

Valaris Trading Up 4.0 %

NYSE:VAL opened at $47.72 on Tuesday. Valaris Limited has a 1-year low of $39.90 and a 1-year high of $84.20. The business’s 50-day moving average price is $45.39 and its two-hundred day moving average price is $52.47. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 3.28 and a beta of 1.10.

Analysts Set New Price Targets

VAL has been the topic of a number of recent analyst reports. Barclays reissued an “equal weight” rating and issued a $49.00 price objective (down previously from $59.00) on shares of Valaris in a research note on Wednesday, December 18th. Susquehanna reduced their price objective on Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Benchmark lowered Valaris from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Citigroup upped their price target on Valaris from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, Evercore ISI lowered Valaris from an “outperform” rating to an “in-line” rating and cut their price target for the company from $87.00 to $59.00 in a research note on Wednesday, January 15th. Two equities research 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, the company has a consensus rating of “Hold” and an average price target of $56.83.

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.