Verition Fund Management LLC increased its stake in shares of Valaris Limited (NYSE:VAL - Free Report) by 92.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,525 shares of the company's stock after acquiring an additional 12,725 shares during the quarter. Verition Fund Management LLC's holdings in Valaris were worth $1,479,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Choreo LLC acquired a new position in Valaris in the 2nd quarter valued at approximately $204,000. Evergreen Capital Management LLC acquired a new position in shares of Valaris in the second quarter valued at $204,000. Scientech Research LLC bought a new position in Valaris in the second quarter worth $211,000. SkyView Investment Advisors LLC acquired a new stake in Valaris during the second quarter worth $224,000. Finally, Fermata Advisors LLC bought a new stake in Valaris in the 2nd quarter valued at $237,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Valaris
In other Valaris news, COO Gilles Luca sold 30,000 shares of the business's stock in a transaction dated 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 completion of the sale, the chief operating officer now directly 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Davor Vukadin sold 15,403 shares of the company'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 transaction, the senior vice president now owns 13,334 shares in the company, valued at approximately $755,237.76. The trade was a 53.60 % decrease in their ownership of the stock. 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. Insiders own 0.12% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on VAL. Barclays lowered their target price on shares of Valaris from $61.00 to $59.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. JPMorgan Chase & Co. assumed coverage on Valaris in a report on Friday. They set an "underweight" rating and a $40.00 price objective on the stock. Citigroup dropped their target price on Valaris from $71.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday, November 27th. Benchmark downgraded Valaris from a "buy" rating to a "hold" rating in a research report on Tuesday, October 15th. Finally, Susquehanna lowered 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. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $67.83.
Get Our Latest Report on VAL
Valaris Price Performance
Shares of VAL traded down $2.89 on Friday, hitting $41.98. The company's stock had a trading volume of 2,458,162 shares, compared to its average volume of 1,512,073. The company has a market capitalization of $2.99 billion, a PE ratio of 2.88 and a beta of 1.09. Valaris Limited has a fifty-two week low of $41.66 and a fifty-two week high of $84.20. The company has a 50 day moving average price of $49.97 and a 200 day moving average price of $61.87. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.61.
About Valaris
(
Free Report)
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.
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