New York State Teachers Retirement System Has $2.39 Million Holdings in Valaris Limited (NYSE:VAL)

New York State Teachers Retirement System increased its holdings in Valaris Limited (NYSE:VAL) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,800 shares of the company’s stock after buying an additional 600 shares during the period. New York State Teachers Retirement System’s holdings in Valaris were worth $2,386,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fifth Third Bancorp boosted its stake in shares of Valaris by 120.1% in the 3rd quarter. Fifth Third Bancorp now owns 394 shares of the company’s stock valued at $30,000 after purchasing an additional 215 shares during the last quarter. Fortis Capital Advisors LLC acquired a new position in shares of Valaris during the 1st quarter valued at $26,000. Belpointe Asset Management LLC acquired a new position in shares of Valaris during the 1st quarter valued at $27,000. Princeton Global Asset Management LLC acquired a new position in shares of Valaris during the 3rd quarter valued at $37,000. Finally, Covestor Ltd lifted its position in shares of Valaris by 184.0% during the 3rd quarter. Covestor Ltd now owns 693 shares of the company’s stock valued at $52,000 after acquiring an additional 449 shares during the period. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Valaris Trading Down 1.4 %

Shares of VAL opened at $69.82 on Tuesday. The firm’s 50 day simple moving average is $68.98 and its 200 day simple moving average is $68.27. The company has a market capitalization of $5.06 billion, a P/E ratio of 5.97 and a beta of 1.13. 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 1-year low of $54.13 and a 1-year high of $78.92.

Valaris (NYSE:VAL) last announced its earnings results on Wednesday, February 21st. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.32. The business had revenue of $483.80 million for the quarter, compared to the consensus estimate of $484.00 million. Valaris had a net margin of 48.50% and a return on equity of 5.71%. Sell-side analysts forecast that Valaris Limited will post 4.75 earnings per share for the current fiscal year.

Valaris Company 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.