XTX Topco Ltd Invests $1.86 Million in Valaris Limited (NYSE:VAL)

XTX Topco Ltd bought a new stake in Valaris Limited (NYSE:VAL - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 33,402 shares of the company's stock, valued at approximately $1,862,000.

Several other hedge funds and other institutional investors have also modified their holdings of VAL. SG Americas Securities LLC boosted its holdings in shares of Valaris by 112.6% during the second quarter. SG Americas Securities LLC now owns 35,885 shares of the company's stock worth $2,673,000 after purchasing an additional 19,004 shares during the period. Fermata Advisors LLC purchased a new position in shares of Valaris during the 2nd quarter valued at $237,000. World Equity Group Inc. grew its holdings in shares of Valaris by 1.9% during the 2nd quarter. World Equity Group Inc. now owns 12,827 shares of the company's stock valued at $956,000 after acquiring an additional 238 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Valaris by 5.2% in the second quarter. Bank of New York Mellon Corp now owns 586,228 shares of the company's stock worth $43,674,000 after acquiring an additional 29,128 shares during the last quarter. Finally, Meixler Investment Management Ltd. raised its holdings in shares of Valaris by 2.6% during the second quarter. Meixler Investment Management Ltd. now owns 34,044 shares of the company's stock worth $2,536,000 after acquiring an additional 853 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company's stock.

Analysts Set New Price Targets

VAL has been the topic of several research reports. Barclays dropped their target price on Valaris from $61.00 to $59.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. Citigroup dropped their price objective on Valaris from $71.00 to $58.00 and set a "buy" rating on the stock in a report on Wednesday, November 27th. JPMorgan Chase & Co. assumed coverage on shares of Valaris in a research report on Friday. They set an "underweight" rating and a $40.00 price objective on the stock. Benchmark lowered shares of Valaris from a "buy" rating to a "hold" rating in a research note on Tuesday, October 15th. Finally, Susquehanna cut their target price on Valaris from $61.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $67.83.

Valaris Price Performance

Shares of Valaris stock traded down $2.89 during trading on Friday, hitting $41.98. 2,458,162 shares of the company's stock traded hands, compared to its average volume of 1,500,146. The company has a market cap of $2.99 billion, a PE ratio of 2.88 and a beta of 1.09. The firm's fifty day moving average price is $49.97 and its 200 day moving average price is $61.76. Valaris Limited has a twelve month low of $41.66 and a twelve month high of $84.20. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.61.

Insiders Place Their Bets

In related news, SVP Davor Vukadin sold 15,403 shares of Valaris stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $56.64, for a total transaction of $872,425.92. Following the completion of the transaction, the senior vice president now directly owns 13,334 shares of the company's stock, valued at $755,237.76. This trade represents a 53.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Gilles Luca sold 30,000 shares of the company's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $56.86, for a total transaction of $1,705,800.00. Following the sale, the chief operating officer now directly owns 108,342 shares in the company, valued at $6,160,326.12. This represents a 21.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,403 shares of company stock worth $4,028,246 over the last quarter. Company insiders own 0.12% of the company's stock.

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.