American Century Companies Inc. Has $28.68 Million Position in Valaris Limited $VAL

American Century Companies Inc. raised its stake in shares of Valaris Limited (NYSE:VAL) by 491.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 681,067 shares of the company’s stock after acquiring an additional 565,856 shares during the quarter. American Century Companies Inc.’s holdings in Valaris were worth $28,680,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Valaris by 20.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,761,369 shares of the company’s stock worth $108,412,000 after purchasing an additional 460,792 shares in the last quarter. Geode Capital Management LLC grew its stake in Valaris by 3.4% during the second quarter. Geode Capital Management LLC now owns 1,592,885 shares of the company’s stock worth $67,084,000 after buying an additional 52,367 shares during the last quarter. Dalal Street LLC acquired a new stake in shares of Valaris during the first quarter worth approximately $56,046,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Valaris by 2.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 813,871 shares of the company’s stock worth $31,953,000 after buying an additional 20,278 shares in the last quarter. Finally, Tensile Capital Management LP bought a new position in shares of Valaris in the first quarter valued at approximately $25,912,000. Institutional investors own 96.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on VAL shares. Weiss Ratings restated a “hold (c)” rating on shares of Valaris in a research report on Wednesday, October 8th. BTIG Research boosted their price objective on Valaris from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Citigroup raised their target price on Valaris from $55.00 to $62.00 and gave the company a “neutral” rating in a research note on Friday, November 14th. Barclays upped their price target on shares of Valaris from $43.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Finally, Susquehanna increased their price objective on shares of Valaris from $49.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Valaris presently has a consensus rating of “Hold” and a consensus target price of $52.50.

Valaris Price Performance

Valaris stock opened at $56.41 on Monday. The business’s 50-day simple moving average is $53.13 and its 200 day simple moving average is $48.47. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.44. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 10.06 and a beta of 1.16. Valaris Limited has a 12-month low of $27.15 and a 12-month high of $58.85.

Valaris (NYSE:VAL) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $1.00 by $1.65. Valaris had a return on equity of 17.27% and a net margin of 16.51%.The firm had revenue of $595.70 million during the quarter, compared to analysts’ expectations of $568.41 million. Valaris’s quarterly revenue was down 7.4% compared to the same quarter last year. As a group, research analysts anticipate that Valaris Limited will post 3.96 earnings per share for the current 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.