Edgestream Partners L.P. Takes Position in Valaris Limited (NYSE:VAL)

Edgestream Partners L.P. purchased a new position in shares of Valaris Limited (NYSE:VAL - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 58,921 shares of the company's stock, valued at approximately $3,285,000. Edgestream Partners L.P. owned about 0.08% of Valaris at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake in Valaris by 180.8% in the first quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock valued at $27,000 after acquiring an additional 235 shares during the last quarter. Choreo LLC acquired a new stake in shares of Valaris in the 2nd quarter valued at approximately $204,000. Evergreen Capital Management LLC bought a new position in Valaris during the 2nd quarter worth approximately $204,000. Scientech Research LLC acquired a new position in Valaris during the second quarter valued at approximately $211,000. Finally, SkyView Investment Advisors LLC bought a new stake in Valaris in the second quarter valued at approximately $224,000. Institutional investors own 96.74% of the company's stock.

Insider Activity

In related news, SVP Matthew Lyne sold 26,000 shares of the business's stock in a transaction on Monday, September 30th. The shares were 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 directly 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 Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $1,705,800.00. Following the transaction, the chief operating officer now owns 108,342 shares in the company, valued at approximately $6,160,326.12. The trade was a 21.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,403 shares of company stock worth $4,028,246 over the last ninety days. Insiders own 0.12% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Citigroup reduced their price target on shares of Valaris from $71.00 to $58.00 and set a "buy" rating on the stock in a research report on Wednesday, November 27th. Benchmark cut Valaris from a "buy" rating to a "hold" rating in a research note on Tuesday, October 15th. Susquehanna dropped their price target on Valaris from $61.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, November 1st. Finally, Barclays cut their price objective on Valaris from $61.00 to $59.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $73.40.

Valaris Stock Up 0.4 %

Valaris stock traded up $0.17 during midday trading on Monday, reaching $46.36. The stock had a trading volume of 1,036,445 shares, compared to its average volume of 1,092,939. The stock has a market capitalization of $3.30 billion, a P/E ratio of 3.19 and a beta of 1.17. The firm's fifty day simple moving average is $51.02 and its 200-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 1-year low of $45.42 and a 1-year high of $84.20.

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.