Fmr LLC Trims Holdings in Valaris Limited (NYSE:VAL)

FMR LLC lessened its position in shares of Valaris Limited (NYSE:VAL - Free Report) by 9.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,528,138 shares of the company's stock after selling 468,216 shares during the quarter. FMR LLC owned about 6.37% of Valaris worth $252,444,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of VAL. Mirabella Financial Services LLP lifted its holdings in shares of Valaris by 415.3% in the 3rd quarter. Mirabella Financial Services LLP now owns 40,000 shares of the company's stock valued at $2,230,000 after acquiring an additional 32,237 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Valaris in the 3rd quarter valued at approximately $879,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Valaris by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 797,060 shares of the company's stock worth $44,436,000 after purchasing an additional 29,031 shares during the period. Landscape Capital Management L.L.C. bought a new position in shares of Valaris during the 3rd quarter valued at approximately $951,000. Finally, Intech Investment Management LLC purchased a new stake in Valaris during the 3rd quarter valued at $3,940,000. 96.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Valaris Stock Up 0.5 %

NYSE VAL traded up $0.23 during midday trading on Monday, hitting $46.42. 408,547 shares of the company traded hands, compared to its average volume of 1,088,937. The company has a market cap of $3.30 billion, a PE ratio of 3.17 and a beta of 1.17. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.61. The company's 50-day simple moving average is $51.02 and its 200-day simple moving average is $62.78. Valaris Limited has a 52 week low of $45.42 and a 52 week high of $84.20.

Insider Transactions at Valaris

In related news, 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 directly owns 108,342 shares in the company, valued at $6,160,326.12. The trade was a 21.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Matthew Lyne sold 26,000 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $55.77, for a total value of $1,450,020.00. Following the completion of the sale, the senior vice president now owns 24,388 shares of the company's stock, valued at approximately $1,360,118.76. This trade represents a 51.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,403 shares of company stock valued at $4,028,246 in the last 90 days. Insiders own 0.12% of the company's stock.

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.