Charles Schwab Investment Management Inc. Grows Position in Valaris Limited (NYSE:VAL)

Charles Schwab Investment Management Inc. increased its holdings in shares of Valaris Limited (NYSE:VAL - Free Report) by 3.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 797,060 shares of the company's stock after acquiring an additional 29,031 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.12% of Valaris worth $44,436,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in shares of Valaris by 180.8% during the first quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $27,000 after buying an additional 235 shares in the last quarter. Choreo LLC purchased a new stake in Valaris during the 2nd quarter valued at about $204,000. Evergreen Capital Management LLC purchased a new stake in Valaris during the 2nd quarter valued at about $204,000. Scientech Research LLC acquired a new stake in Valaris in the 2nd quarter valued at about $211,000. Finally, SkyView Investment Advisors LLC purchased a new position in Valaris in the 2nd quarter worth approximately $224,000. Hedge funds and other institutional investors own 96.74% of the company's stock.

Valaris Stock Performance

Shares of VAL stock traded up $0.17 during mid-day trading on Monday, hitting $46.36. 1,036,445 shares of the stock were exchanged, compared to its average volume of 1,092,939. The stock's fifty day simple moving average is $51.02 and its two-hundred day simple moving average is $62.78. 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 12-month low of $45.42 and a 12-month high of $84.20. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of 3.19 and a beta of 1.17.

Insider Activity

In related news, SVP Matthew Lyne sold 26,000 shares of the company's 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 of the company's stock, valued at $1,360,118.76. This represents a 51.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Davor Vukadin sold 15,403 shares of the firm's 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 sale, the senior vice president now 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 disclosure for this sale can be found here. Over the last three months, insiders sold 71,403 shares of company stock valued at $4,028,246. Insiders own 0.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VAL. Susquehanna cut their target price on Valaris from $61.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, November 1st. Barclays cut their price objective on shares of Valaris from $61.00 to $59.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Citigroup decreased their target price on shares of Valaris from $71.00 to $58.00 and set a "buy" rating on the stock in a report on Wednesday, November 27th. Finally, Benchmark downgraded shares of Valaris from a "buy" rating to a "hold" rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $73.40.

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.