Van ECK Associates Corp Sells 27,850 Shares of Valaris Limited (NYSE:VAL)

Van ECK Associates Corp lowered its holdings in Valaris Limited (NYSE:VAL - Free Report) by 2.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 927,620 shares of the company's stock after selling 27,850 shares during the period. Van ECK Associates Corp owned approximately 1.30% of Valaris worth $41,038,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Waverton Investment Management Ltd increased its holdings in shares of Valaris by 20.4% in the 3rd quarter. Waverton Investment Management Ltd now owns 670,885 shares of the company's stock worth $37,412,000 after buying an additional 113,509 shares during the last quarter. State Street Corp raised its position in Valaris by 4.8% during the third quarter. State Street Corp now owns 2,446,006 shares of the company's stock valued at $136,365,000 after purchasing an additional 112,216 shares in the last quarter. Intech Investment Management LLC bought a new stake in Valaris during the third quarter worth about $3,940,000. Geode Capital Management LLC boosted its holdings in shares of Valaris by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,519,644 shares of the company's stock worth $84,736,000 after purchasing an additional 66,229 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in shares of Valaris during the 3rd quarter valued at about $3,285,000. Institutional investors own 96.74% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Barclays reiterated an "equal weight" rating and set a $49.00 price target (down from $59.00) on shares of Valaris in a research report on Wednesday, December 18th. Susquehanna lowered their target price on Valaris from $61.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, November 1st. Citigroup lifted their price target on Valaris from $47.00 to $48.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. Evercore ISI downgraded shares of Valaris from an "outperform" rating to an "in-line" rating and decreased their target price for the stock from $87.00 to $59.00 in a research note on Wednesday, January 15th. Finally, JPMorgan Chase & Co. started coverage on shares of Valaris in a research report on Friday, December 6th. They issued an "underweight" rating and a $40.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $56.83.

Valaris Stock Down 2.7 %

Shares of VAL stock traded down $1.21 during midday trading on Monday, reaching $44.50. 1,424,988 shares of the stock were exchanged, compared to its average volume of 1,458,484. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.51. Valaris Limited has a 1 year low of $39.90 and a 1 year high of $84.20. The firm has a market cap of $3.16 billion, a PE ratio of 3.06 and a beta of 1.10. The company's 50 day moving average is $45.52 and its two-hundred day moving average is $51.12.

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.