Valaris Limited (NYSE:VAL) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lowered its stake in Valaris Limited (NYSE:VAL - Free Report) by 13.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 955,470 shares of the company's stock after selling 153,714 shares during the period. Van ECK Associates Corp owned approximately 1.31% of Valaris worth $53,267,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of VAL. EverSource Wealth Advisors LLC increased its stake in Valaris by 180.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock valued at $27,000 after buying an additional 235 shares during the period. Headlands Technologies LLC purchased a new position in Valaris during the first quarter worth about $149,000. Choreo LLC purchased a new position in Valaris during the second quarter worth about $204,000. Evergreen Capital Management LLC acquired a new stake in Valaris in the second quarter valued at about $204,000. Finally, Scientech Research LLC purchased a new stake in Valaris in the 2nd quarter valued at approximately $211,000. Hedge funds and other institutional investors own 96.74% of the company's stock.

Wall Street Analysts Forecast Growth

VAL has been the subject of several recent analyst reports. Benchmark cut Valaris from a "buy" rating to a "hold" rating in a report on Tuesday, October 15th. Pickering Energy Partners cut shares of Valaris from an "outperform" rating to a "neutral" rating in a research note on Tuesday, July 16th. Citigroup lowered their target price on shares of Valaris from $95.00 to $71.00 and set a "buy" rating on the stock in a research report on Thursday, September 12th. Barclays reduced their price target on shares of Valaris from $91.00 to $61.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Finally, Susquehanna lowered their price target on Valaris from $61.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $80.33.

Valaris Trading Up 2.6 %

Shares of NYSE VAL traded up $1.28 during midday trading on Monday, reaching $49.71. 1,946,690 shares of the stock were exchanged, compared to its average volume of 1,050,636. The stock has a 50 day moving average price of $54.26 and a 200-day moving average price of $65.66. The company has a current ratio of 1.61, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $3.62 billion, a P/E ratio of 3.41 and a beta of 1.17. Valaris Limited has a 52-week low of $48.04 and a 52-week high of $84.20.

Insiders Place Their Bets

In other news, SVP Matthew Lyne sold 26,000 shares of the firm'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 sale, the senior vice president now owns 24,388 shares in the company, valued at $1,360,118.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP Matthew Lyne sold 26,000 shares of the company's stock in a transaction dated 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 completion of 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 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Davor Vukadin sold 15,403 shares of the business's stock in a transaction that occurred on 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 approximately $755,237.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 71,403 shares of company stock valued at $4,028,246. Company insiders own 0.12% of the company's stock.

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.