Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Makes New Investment in Valaris Limited (NYSE:VAL)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Valaris Limited (NYSE:VAL) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,000 shares of the company’s stock, valued at approximately $243,000.

Several other institutional investors also recently made changes to their positions in the stock. State Street Corp boosted its position in Valaris by 4.8% during the 3rd quarter. State Street Corp now owns 2,446,006 shares of the company’s stock valued at $136,365,000 after purchasing an additional 112,216 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Valaris by 4.6% during 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 during the period. Charles Schwab Investment Management Inc. boosted its holdings 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 valued at $44,436,000 after acquiring an additional 29,031 shares during the period. Waverton Investment Management Ltd grew its position in shares of Valaris by 20.4% during the third quarter. Waverton Investment Management Ltd now owns 670,885 shares of the company’s stock worth $37,412,000 after acquiring an additional 113,509 shares during the last quarter. Finally, Fiera Capital Corp increased its holdings in shares of Valaris by 2.3% in the 3rd quarter. Fiera Capital Corp now owns 283,854 shares of the company’s stock worth $15,825,000 after acquiring an additional 6,330 shares during the period. 96.74% of the stock is owned by institutional investors.

Valaris Stock Performance

VAL opened at $45.87 on Monday. The business has a 50 day moving average price of $45.39 and a two-hundred day moving average price of $52.64. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.61. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 3.15 and a beta of 1.10. Valaris Limited has a 1-year low of $39.90 and a 1-year high of $84.20.

Analyst Ratings Changes

A number of research firms have issued reports on VAL. Citigroup boosted their target price on shares of Valaris from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Evercore ISI downgraded Valaris from an “outperform” rating to an “in-line” rating and reduced their price objective for the stock from $87.00 to $59.00 in a research report on Wednesday, January 15th. Susquehanna lowered their target price on Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Barclays reaffirmed an “equal weight” rating and set a $49.00 target price (down previously from $59.00) on shares of Valaris in a research note on Wednesday, December 18th. Finally, Benchmark cut Valaris from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Two research 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 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.