Meixler Investment Management Ltd. Acquires 11,278 Shares of Valaris Limited (NYSE:VAL)

Meixler Investment Management Ltd. raised its holdings in Valaris Limited (NYSE:VAL) by 26.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 54,729 shares of the company’s stock after buying an additional 11,278 shares during the quarter. Valaris accounts for about 1.8% of Meixler Investment Management Ltd.’s investment portfolio, making the stock its 12th largest holding. Meixler Investment Management Ltd.’s holdings in Valaris were worth $2,421,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. lifted its stake in shares of Valaris by 41.0% in the 4th quarter. Blue Trust Inc. now owns 1,758 shares of the company’s stock valued at $78,000 after purchasing an additional 511 shares during the period. Stanley Laman Group Ltd. raised its stake in Valaris by 19.5% during the fourth quarter. Stanley Laman Group Ltd. now owns 82,710 shares of the company’s stock valued at $3,659,000 after buying an additional 13,508 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Valaris during the fourth quarter valued at $243,000. Jennison Associates LLC raised its stake in Valaris by 27.3% during the fourth quarter. Jennison Associates LLC now owns 20,641 shares of the company’s stock valued at $913,000 after buying an additional 4,422 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC raised its stake in Valaris by 177.5% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 72,688 shares of the company’s stock valued at $3,216,000 after buying an additional 46,493 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Valaris Stock Performance

Shares of VAL opened at $44.50 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.61. Valaris Limited has a one year low of $39.90 and a one year high of $84.20. The firm has a market capitalization of $3.16 billion, a P/E ratio of 3.06 and a beta of 1.10. The business has a fifty day moving average of $45.52 and a 200 day moving average of $51.51.

Analysts Set New Price Targets

A number of research analysts have issued reports on VAL shares. Evercore ISI cut Valaris from an “outperform” rating to an “in-line” rating and lowered their price objective for the company from $87.00 to $59.00 in a research note on Wednesday, January 15th. Barclays restated an “equal weight” rating and issued a $49.00 price target (down previously from $59.00) on shares of Valaris in a research note on Wednesday, December 18th. JPMorgan Chase & Co. assumed coverage on Valaris in a research note on Friday, December 6th. They issued an “underweight” rating and a $40.00 price target for the company. Citigroup boosted their price target on Valaris from $47.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, Susquehanna decreased their price target on Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $56.83.

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.