Loomis Sayles & Co. L P Sells 33,049 Shares of Valaris Limited (NYSE:VAL)

Loomis Sayles & Co. L P trimmed its position in shares of Valaris Limited (NYSE:VAL - Free Report) by 16.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 171,575 shares of the company's stock after selling 33,049 shares during the period. Loomis Sayles & Co. L P owned about 0.24% of Valaris worth $9,565,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in shares of Valaris by 180.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $27,000 after purchasing an additional 235 shares during the last quarter. Choreo LLC acquired a new position in Valaris during the second quarter worth $204,000. Evergreen Capital Management LLC bought a new position in Valaris during the second quarter valued at about $204,000. Scientech Research LLC acquired a new stake in shares of Valaris in the second quarter worth about $211,000. Finally, SkyView Investment Advisors LLC bought a new stake in shares of Valaris during the 2nd quarter worth about $224,000. Institutional investors and hedge funds own 96.74% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on VAL shares. Susquehanna decreased their target price on Valaris from $61.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, November 1st. Benchmark cut shares of Valaris from a "buy" rating to a "hold" rating in a report on Tuesday, October 15th. Citigroup dropped their price objective on Valaris from $71.00 to $58.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Barclays reduced their price objective on Valaris from $61.00 to $59.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $77.83.

Insider Activity at Valaris

In other 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 through this link. Also, COO Gilles Luca sold 30,000 shares of Valaris stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 108,342 shares of the company's stock, 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 sold 71,403 shares of company stock valued at $4,028,246 over the last ninety days. 0.12% of the stock is owned by insiders.

Valaris Price Performance

NYSE:VAL traded down $0.43 during trading hours on Thursday, reaching $45.57. The company had a trading volume of 909,376 shares, compared to its average volume of 1,094,490. The firm has a market capitalization of $3.24 billion, a PE ratio of 3.13 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 stock has a 50-day moving average of $51.41 and a two-hundred day moving average of $63.28. Valaris Limited has a one year low of $45.42 and a one year high of $84.20.

About Valaris

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.