Valaris Limited (NYSE:VAL) Shares Purchased by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in Valaris Limited (NYSE:VAL) by 6.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,000 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Valaris were worth $1,097,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Hosking Partners LLP raised its stake in Valaris by 13.0% in the 3rd quarter. Hosking Partners LLP now owns 255,275 shares of the company’s stock valued at $19,141,000 after purchasing an additional 29,336 shares during the last quarter. Tudor Investment Corp Et Al grew its holdings in shares of Valaris by 567.3% during the 3rd quarter. Tudor Investment Corp Et Al now owns 78,457 shares of the company’s stock worth $5,883,000 after purchasing an additional 66,700 shares during the period. Van ECK Associates Corp grew its holdings in shares of Valaris by 11.3% during the 3rd quarter. Van ECK Associates Corp now owns 1,704,357 shares of the company’s stock worth $127,792,000 after purchasing an additional 172,780 shares during the period. SCP Investment LP purchased a new stake in shares of Valaris during the 3rd quarter worth about $570,000. Finally, Invesco Ltd. boosted its holdings in Valaris by 70.6% in the 3rd quarter. Invesco Ltd. now owns 513,877 shares of the company’s stock worth $38,530,000 after acquiring an additional 212,620 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on VAL. Evercore ISI decreased their price target on Valaris from $107.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, February 23rd. Barclays reduced their price objective on Valaris from $105.00 to $102.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 5th. Capital One Financial restated an “overweight” rating and set a $100.00 price objective on shares of Valaris in a research note on Tuesday, November 28th. StockNews.com upgraded Valaris to a “sell” rating in a research note on Friday, March 15th. Finally, TheStreet upgraded Valaris from a “c” rating to a “b-” rating in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.00.

Valaris Stock Performance

Shares of VAL traded up $1.79 during trading hours on Wednesday, reaching $73.77. 606,401 shares of the company’s stock traded hands, compared to its average volume of 921,994. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of 6.16 and a beta of 1.10. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.71 and a quick ratio of 1.71. Valaris Limited has a twelve month low of $54.13 and a twelve month high of $78.92. The business’s fifty day simple moving average is $66.77 and its two-hundred day simple moving average is $68.44.

Valaris (NYSE:VAL) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.32. The company had revenue of $483.80 million for the quarter, compared to analyst estimates of $484.00 million. Valaris had a return on equity of 5.71% and a net margin of 48.50%. Analysts predict that Valaris Limited will post 4.75 earnings per share for the current 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.