Coronation Fund Managers Ltd. Lowers Stock Holdings in Valaris Limited (NYSE:VAL)

Coronation Fund Managers Ltd. lessened its stake in shares of Valaris Limited (NYSE:VAL) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,323 shares of the company’s stock after selling 580 shares during the quarter. Coronation Fund Managers Ltd.’s holdings in Valaris were worth $1,738,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Fermata Advisors LLC purchased a new position in Valaris during the 2nd quarter worth $237,000. Diversify Advisory Services LLC lifted its position in Valaris by 1.1% in the second quarter. Diversify Advisory Services LLC now owns 119,882 shares of the company’s stock valued at $8,683,000 after purchasing an additional 1,303 shares during the period. SG Americas Securities LLC boosted its holdings in Valaris by 112.6% in the 2nd quarter. SG Americas Securities LLC now owns 35,885 shares of the company’s stock valued at $2,673,000 after purchasing an additional 19,004 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in Valaris by 41.2% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 17,260 shares of the company’s stock valued at $1,286,000 after purchasing an additional 5,035 shares in the last quarter. Finally, Smith Anglin Financial LLC increased its position in Valaris by 72.2% during the 2nd quarter. Smith Anglin Financial LLC now owns 6,440 shares of the company’s stock worth $480,000 after purchasing an additional 2,700 shares during the period. 96.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Benchmark reissued a “buy” rating and issued a $90.00 price target on shares of Valaris in a report on Monday, August 5th. Barclays lowered their price target on shares of Valaris from $98.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. StockNews.com upgraded shares of Valaris to a “sell” rating in a report on Friday, April 26th. Finally, Pickering Energy Partners downgraded shares of Valaris from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Valaris currently has an average rating of “Moderate Buy” and a consensus target price of $97.80.

Valaris Price Performance

Shares of Valaris stock traded down $0.77 on Friday, hitting $62.91. The company’s stock had a trading volume of 1,007,401 shares, compared to its average volume of 959,248. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.49. The firm has a fifty day moving average price of $72.87 and a 200-day moving average price of $70.84. Valaris Limited has a 52-week low of $60.06 and a 52-week high of $84.20. The company has a market capitalization of $4.58 billion, a P/E ratio of 5.50 and a beta of 1.21.

Valaris 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.