Waverton Investment Management Ltd Raises Position in Valaris Limited (NYSE:VAL)

Waverton Investment Management Ltd grew its stake in shares of Valaris Limited (NYSE:VAL - Free Report) by 20.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 670,885 shares of the company's stock after buying an additional 113,509 shares during the quarter. Waverton Investment Management Ltd owned 0.94% of Valaris worth $37,412,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Lingotto Investment Management LLP boosted its holdings in shares of Valaris by 1.2% during the second quarter. Lingotto Investment Management LLP now owns 3,040,610 shares of the company's stock worth $226,525,000 after purchasing an additional 36,870 shares during the period. Marshall Wace LLP boosted its holdings in shares of Valaris by 5.9% during the second quarter. Marshall Wace LLP now owns 1,882,846 shares of the company's stock worth $140,272,000 after purchasing an additional 105,330 shares during the period. Condire Management LP boosted its holdings in shares of Valaris by 14.7% during the first quarter. Condire Management LP now owns 1,452,097 shares of the company's stock worth $109,285,000 after purchasing an additional 186,076 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Valaris by 23.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company's stock worth $88,573,000 after purchasing an additional 225,283 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Valaris by 5.2% during the second quarter. Bank of New York Mellon Corp now owns 586,228 shares of the company's stock worth $43,674,000 after purchasing an additional 29,128 shares during the period. 96.74% of the stock is owned by institutional investors.

Valaris Stock Down 1.6 %

Shares of VAL stock traded down $0.80 during trading hours on Tuesday, hitting $50.39. 1,353,690 shares of the company's stock traded hands, compared to its average volume of 1,057,377. The stock's fifty day simple moving average is $53.23 and its two-hundred day simple moving average is $65.04. Valaris Limited has a 12-month low of $48.04 and a 12-month high of $84.20. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 3.52 and a beta of 1.17. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.51.

Insider Activity

In other news, COO Gilles Luca sold 30,000 shares of Valaris stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $56.86, for a total transaction of $1,705,800.00. Following the completion of the transaction, the chief operating officer now directly owns 108,342 shares in the company, valued at approximately $6,160,326.12. 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 accessible through the SEC website. In other Valaris news, COO Gilles Luca sold 30,000 shares of Valaris 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 completion of the sale, the chief operating officer now owns 108,342 shares of the company's stock, valued at approximately $6,160,326.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Davor Vukadin sold 15,403 shares of Valaris 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 sale, the senior vice president now directly owns 13,334 shares of the company's stock, valued at approximately $755,237.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,403 shares of company stock worth $4,028,246. Insiders own 0.12% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Pickering Energy Partners lowered shares of Valaris from an "outperform" rating to a "neutral" rating in a report on Tuesday, July 16th. Susquehanna lowered their price objective on shares of Valaris from $61.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, November 1st. Benchmark lowered shares of Valaris from a "buy" rating to a "hold" rating in a report on Tuesday, October 15th. Citigroup lowered their price objective 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. Finally, Barclays lowered their price objective on shares of Valaris from $61.00 to $59.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $80.00.

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.