Anthracite Investment Company Inc. Has $1.82 Million Stake in Valaris Limited (NYSE:VAL)

Anthracite Investment Company Inc. lowered its holdings in Valaris Limited (NYSE:VAL - Free Report) by 41.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,700 shares of the company's stock after selling 23,381 shares during the period. Anthracite Investment Company Inc.'s holdings in Valaris were worth $1,823,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jennison Associates LLC purchased a new position in shares of Valaris in the third quarter worth approximately $904,000. Drive Wealth Management LLC purchased a new stake in shares of Valaris in the third quarter worth approximately $399,000. Thrivent Financial for Lutherans boosted its position in Valaris by 4.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 15,651 shares of the company's stock valued at $873,000 after buying an additional 604 shares during the period. Mutual of America Capital Management LLC increased its stake in shares of Valaris by 16.4% during the third quarter. Mutual of America Capital Management LLC now owns 84,908 shares of the company's stock valued at $4,734,000 after buying an additional 11,949 shares during the period. Finally, OneDigital Investment Advisors LLC raised its position in shares of Valaris by 272.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 10,971 shares of the company's stock worth $612,000 after acquiring an additional 8,028 shares in the last quarter. Institutional investors own 96.74% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on VAL shares. Barclays reduced their target price on Valaris from $61.00 to $59.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. 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 research note on Friday, November 1st. Benchmark downgraded shares of Valaris from a "buy" rating to a "hold" rating in a report on Tuesday, October 15th. Finally, Citigroup lowered their price objective on shares of Valaris from $95.00 to $71.00 and set a "buy" rating for the company in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $80.00.

Insider Transactions at Valaris

In other news, SVP Matthew Lyne sold 26,000 shares of Valaris stock in a transaction on Monday, September 30th. The stock was sold at an average price of $55.77, for a total transaction of $1,450,020.00. Following the transaction, the senior vice president now owns 24,388 shares in the company, valued at approximately $1,360,118.76. The trade was a 51.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $872,425.92. Following the sale, the senior vice president now owns 13,334 shares of the company's stock, valued at approximately $755,237.76. This represents a 53.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,403 shares of company stock worth $4,028,246. 0.12% of the stock is currently owned by corporate insiders.

Valaris Stock Up 1.7 %

Shares of NYSE VAL traded up $0.78 during trading on Wednesday, reaching $47.19. 3,335,754 shares of the stock were exchanged, compared to its average volume of 1,083,161. Valaris Limited has a twelve month low of $46.03 and a twelve month high of $84.20. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 3.19 and a beta of 1.17. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.51. The business's 50-day moving average price is $52.36 and its 200 day moving average price is $64.29.

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.