Wellington Management Group LLP Sells 816,178 Shares of Valaris Limited (NYSE:VAL)

Wellington Management Group LLP lessened its position in Valaris Limited (NYSE:VAL - Free Report) by 36.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,445,567 shares of the company's stock after selling 816,178 shares during the quarter. Wellington Management Group LLP owned 2.03% of Valaris worth $80,590,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Wexford Capital LP bought a new position in Valaris during the third quarter valued at approximately $493,000. State Street Corp boosted its stake in shares of Valaris by 4.8% in the 3rd 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. Quarry LP bought a new position in shares of Valaris during the 3rd quarter valued at $25,000. HighTower Advisors LLC raised its position in Valaris by 202.7% in the 3rd quarter. HighTower Advisors LLC now owns 10,490 shares of the company's stock worth $591,000 after purchasing an additional 7,024 shares during the period. Finally, Centiva Capital LP bought a new stake in Valaris in the third quarter worth $930,000. Hedge funds and other institutional investors own 96.74% of the company's stock.

Valaris Trading Up 1.2 %

Shares of VAL stock traded up $0.55 during trading hours on Wednesday, reaching $45.82. The company's stock had a trading volume of 1,245,661 shares, compared to its average volume of 1,111,797. 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 one year low of $41.66 and a one year high of $84.20. The stock has a market capitalization of $3.26 billion, a P/E ratio of 3.11 and a beta of 1.09. The firm's fifty day simple moving average is $49.54 and its 200 day simple moving average is $61.26.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. initiated coverage on Valaris in a research note on Friday, December 6th. They set an "underweight" rating and a $40.00 price objective on the stock. Benchmark lowered Valaris from a "buy" rating to a "hold" rating in a research report on Tuesday, October 15th. Barclays lowered their price objective on Valaris from $61.00 to $59.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Susquehanna dropped their price objective on Valaris from $61.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, November 1st. Finally, Citigroup downgraded shares of Valaris from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $58.00 to $47.00 in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Valaris presently has an average rating of "Hold" and a consensus price target of $66.00.

Insider Buying and Selling

In related news, SVP Matthew Lyne sold 26,000 shares of the business'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 transaction, the senior vice president now owns 24,388 shares in the company, valued at $1,360,118.76. The trade was a 51.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.12% of the stock is currently owned by insiders.

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.