Centiva Capital LP Takes Position in Valaris Limited (NYSE:VAL)

Centiva Capital LP acquired a new stake in shares of Valaris Limited (NYSE:VAL - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 16,682 shares of the company's stock, valued at approximately $930,000.

Other large investors have also made changes to their positions in the company. ClearAlpha Technologies LP acquired a new stake in Valaris during the third quarter worth about $256,000. Kestra Investment Management LLC purchased a new stake in Valaris in the 3rd quarter worth approximately $295,000. Edgestream Partners L.P. purchased a new stake in Valaris in the 3rd quarter worth approximately $3,285,000. Raffles Associates LP acquired a new stake in shares of Valaris during the 3rd quarter worth approximately $558,000. Finally, Verition Fund Management LLC increased its holdings in shares of Valaris by 92.2% during the 3rd quarter. Verition Fund Management LLC now owns 26,525 shares of the company's stock valued at $1,479,000 after purchasing an additional 12,725 shares in the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Valaris

In related news, SVP Matthew Lyne sold 26,000 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $55.77, for a total value of $1,450,020.00. Following the completion of the sale, the senior vice president now owns 24,388 shares of the company's stock, valued at approximately $1,360,118.76. This trade represents a 51.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Gilles Luca sold 30,000 shares of the business's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $56.86, for a total value of $1,705,800.00. Following the transaction, the chief operating officer now directly owns 108,342 shares in the company, valued at $6,160,326.12. This trade represents a 21.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,403 shares of company stock worth $4,028,246. Corporate insiders own 0.12% of the company's stock.

Valaris Price Performance

Shares of NYSE:VAL traded down $2.89 during trading on Friday, reaching $41.98. The stock had a trading volume of 2,454,402 shares, compared to its average volume of 1,103,292. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.61. Valaris Limited has a 1-year low of $41.66 and a 1-year high of $84.20. The stock has a market cap of $2.99 billion, a PE ratio of 2.88 and a beta of 1.09. The business has a fifty day moving average price of $50.25 and a 200-day moving average price of $62.11.

Analysts Set New Price Targets

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

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.