City Center Advisors LLC Makes New $319,000 Investment in Valaris Limited (NYSE:VAL)

City Center Advisors LLC acquired a new stake in shares of Valaris Limited (NYSE:VAL) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 7,216 shares of the company’s stock, valued at approximately $319,000.

Other hedge funds also recently made changes to their positions in the company. Quarry LP bought a new position in Valaris in the third quarter valued at $25,000. Evergreen Capital Management LLC purchased a new position in shares of Valaris in the 2nd quarter worth about $204,000. Choreo LLC bought a new position in shares of Valaris during the 2nd quarter valued at about $204,000. Scientech Research LLC purchased a new position in shares of Valaris during the 2nd quarter valued at about $211,000. Finally, SkyView Investment Advisors LLC bought a new stake in Valaris in the 2nd quarter worth approximately $224,000. 96.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on VAL shares. Barclays reiterated an “equal weight” rating and set a $49.00 price target (down from $59.00) on shares of Valaris in a research report on Wednesday, December 18th. Susquehanna reduced their target price on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Citigroup downgraded shares of Valaris from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $58.00 to $47.00 in a research note on Monday, December 9th. Benchmark cut Valaris from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. began coverage on Valaris in a research note on Friday, December 6th. They issued an “underweight” rating and a $40.00 target price for the company. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $64.33.

Valaris Price Performance

VAL stock opened at $45.69 on Monday. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 3.14 and a beta of 1.10. The firm’s 50-day moving average price is $45.68 and its two-hundred day moving average price is $56.36. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.51. Valaris Limited has a 12-month low of $39.90 and a 12-month high of $84.20.

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.