17,454 Shares in Valaris Limited $VAL Purchased by Hutchinson Financial Advisors INC

Hutchinson Financial Advisors INC purchased a new position in Valaris Limited (NYSE:VAL) during the 2nd quarter, Holdings Channel reports. The fund purchased 17,454 shares of the company’s stock, valued at approximately $735,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in Valaris by 20.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,761,369 shares of the company’s stock worth $108,412,000 after buying an additional 460,792 shares during the period. Dalal Street LLC purchased a new position in Valaris in the 1st quarter worth about $56,046,000. Charles Schwab Investment Management Inc. increased its stake in Valaris by 2.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 813,871 shares of the company’s stock worth $31,953,000 after buying an additional 20,278 shares during the period. Tensile Capital Management LP purchased a new position in Valaris in the 1st quarter worth about $25,912,000. Finally, Third Avenue Management LLC increased its stake in Valaris by 33.6% in the 1st quarter. Third Avenue Management LLC now owns 569,839 shares of the company’s stock worth $22,372,000 after buying an additional 143,231 shares during the period. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Barclays raised their price target on shares of Valaris from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. BTIG Research raised their price target on shares of Valaris from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Valaris in a research note on Wednesday, October 8th. Clarkson Capital cut shares of Valaris from a “buy” rating to a “neutral” rating and set a $54.00 target price on the stock. in a report on Tuesday, September 2nd. Finally, Fearnley Fonds cut shares of Valaris from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Valaris has an average rating of “Reduce” and a consensus price target of $50.50.

Valaris Stock Down 2.8%

NYSE:VAL opened at $56.10 on Friday. Valaris Limited has a fifty-two week low of $27.15 and a fifty-two week high of $58.39. The stock has a market capitalization of $3.99 billion, a P/E ratio of 10.00 and a beta of 1.15. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.81 and a current ratio of 1.87. The company’s 50-day simple moving average is $51.19 and its 200-day simple moving average is $45.32.

Valaris (NYSE:VAL) last released its quarterly earnings results on Wednesday, October 29th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $1.65. Valaris had a net margin of 16.51% and a return on equity of 17.27%. The business had revenue of $595.70 million for the quarter, compared to analysts’ expectations of $568.41 million. The firm’s quarterly revenue was down 7.4% compared to the same quarter last year. On average, equities analysts anticipate that Valaris Limited will post 3.96 earnings per share for the current fiscal year.

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.