Valaris Limited (NYSE:VAL) Shares Acquired by Rye Brook Capital LLC

Rye Brook Capital LLC boosted its holdings in shares of Valaris Limited (NYSE:VAL) by 4.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 47,000 shares of the company’s stock after buying an additional 1,800 shares during the quarter. Valaris makes up approximately 2.5% of Rye Brook Capital LLC’s holdings, making the stock its 16th largest holding. Rye Brook Capital LLC’s holdings in Valaris were worth $2,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp boosted its position in Valaris by 4.8% in the 3rd quarter. State Street Corp now owns 2,446,006 shares of the company’s stock worth $136,365,000 after purchasing an additional 112,216 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Valaris by 4.6% in the third quarter. Geode Capital Management LLC now owns 1,519,644 shares of the company’s stock valued at $84,736,000 after acquiring an additional 66,229 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Valaris by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 797,060 shares of the company’s stock worth $44,436,000 after purchasing an additional 29,031 shares in the last quarter. Waverton Investment Management Ltd lifted its holdings in Valaris by 20.4% in the 3rd quarter. Waverton Investment Management Ltd now owns 670,885 shares of the company’s stock valued at $37,412,000 after purchasing an additional 113,509 shares in the last quarter. Finally, Fiera Capital Corp grew its holdings in shares of Valaris by 2.3% during the third quarter. Fiera Capital Corp now owns 283,854 shares of the company’s stock worth $15,825,000 after buying an additional 6,330 shares in the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Valaris Stock Performance

Shares of VAL opened at $44.82 on Wednesday. The stock has a 50-day simple moving average of $45.51 and a 200-day simple moving average of $50.96. The stock has a market capitalization of $3.19 billion, a PE ratio of 3.08 and a beta of 1.10. Valaris Limited has a 1 year low of $39.90 and a 1 year high of $84.20. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.61.

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.