Mutual of America Capital Management LLC Boosts Stock Position in Valaris Limited (NYSE:VAL)

Mutual of America Capital Management LLC raised its stake in shares of Valaris Limited (NYSE:VAL - Free Report) by 16.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,908 shares of the company's stock after purchasing an additional 11,949 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.12% of Valaris worth $4,734,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Clearbridge Investments LLC raised its position in shares of Valaris by 2.3% in the 1st quarter. Clearbridge Investments LLC now owns 232,070 shares of the company's stock worth $17,466,000 after acquiring an additional 5,173 shares in the last quarter. Natixis bought a new position in Valaris in the first quarter worth $730,000. Price T Rowe Associates Inc. MD lifted its position in Valaris by 6.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,656 shares of the company's stock valued at $2,609,000 after buying an additional 2,005 shares during the period. Public Employees Retirement Association of Colorado bought a new stake in shares of Valaris during the 1st quarter valued at $418,000. Finally, Condire Management LP grew its position in shares of Valaris by 14.7% in the 1st quarter. Condire Management LP now owns 1,452,097 shares of the company's stock worth $109,285,000 after buying an additional 186,076 shares during the period. 96.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on VAL shares. Susquehanna lowered their price target on shares of Valaris from $61.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, November 1st. Citigroup lowered their target price on shares of Valaris from $95.00 to $71.00 and set a "buy" rating for the company in a report on Thursday, September 12th. Benchmark downgraded Valaris from a "buy" rating to a "hold" rating in a research note on Tuesday, October 15th. Finally, Barclays lowered their price objective on Valaris from $61.00 to $59.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $80.00.

Insider Buying and Selling

In other news, COO Gilles Luca sold 30,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were 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 owns 108,342 shares in the company, valued at $6,160,326.12. This represents a 21.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Davor Vukadin sold 15,403 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $56.64, for a total transaction of $872,425.92. Following the completion of the transaction, the senior vice president now directly owns 13,334 shares in the company, valued at approximately $755,237.76. The trade was a 53.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,403 shares of company stock worth $4,028,246. 0.12% of the stock is owned by insiders.

Valaris Stock Up 1.0 %

VAL stock traded up $0.49 during midday trading on Thursday, hitting $47.69. The company's stock had a trading volume of 3,638,868 shares, compared to its average volume of 1,094,668. The company has a market cap of $3.39 billion, a PE ratio of 3.28 and a beta of 1.17. The firm's 50-day moving average is $52.08 and its 200-day moving average is $64.05. Valaris Limited has a 12 month low of $46.03 and a 12 month high of $84.20. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.51.

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.