Exchange Traded Concepts LLC Trims Position in Valaris Limited (NYSE:VAL)

Exchange Traded Concepts LLC reduced its holdings in Valaris Limited (NYSE:VAL) by 9.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,172 shares of the company’s stock after selling 926 shares during the period. Exchange Traded Concepts LLC’s holdings in Valaris were worth $511,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its holdings in Valaris by 180.8% in the first quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $27,000 after acquiring an additional 235 shares during the period. Headlands Technologies LLC acquired a new position in shares of Valaris in the 1st quarter valued at $149,000. Choreo LLC purchased a new stake in Valaris during the second quarter worth $204,000. Evergreen Capital Management LLC acquired a new stake in Valaris during the second quarter valued at $204,000. Finally, Scientech Research LLC purchased a new position in Valaris in the second quarter valued at $211,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Valaris Stock Performance

NYSE:VAL opened at $51.22 on Friday. The company has a market cap of $3.71 billion, a P/E ratio of 4.48 and a beta of 1.15. Valaris Limited has a twelve month low of $49.62 and a twelve month high of $84.20. The company’s 50-day moving average price is $57.11 and its 200-day moving average price is $67.36. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.49.

Valaris (NYSE:VAL) last released its earnings results on Wednesday, July 31st. The company reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $1.07. The business had revenue of $610.10 million for the quarter, compared to analyst estimates of $545.00 million. Valaris had a net margin of 49.33% and a return on equity of 12.58%. On average, sell-side analysts forecast that Valaris Limited will post 4.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Pickering Energy Partners lowered shares of Valaris from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 16th. Barclays lowered their price target on Valaris from $98.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Susquehanna reduced their target price on Valaris from $62.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Citigroup dropped their target price on shares of Valaris from $95.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Finally, Benchmark downgraded shares of Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $86.33.

Insiders Place Their Bets

In other Valaris news, SVP Davor Vukadin sold 15,403 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $56.64, for a total value 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 $755,237.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Matthew Lyne sold 26,000 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $55.77, for a total value of $1,450,020.00. Following the completion of the transaction, the senior vice president now directly owns 24,388 shares in the company, valued at approximately $1,360,118.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Davor Vukadin sold 15,403 shares of Valaris stock in a transaction on Monday, September 9th. The shares were sold at an average price of $56.64, for a total value of $872,425.92. Following the completion of the sale, the senior vice president now owns 13,334 shares in the company, valued at $755,237.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,403 shares of company stock valued at $4,028,246. Insiders own 0.12% of the company’s stock.

Valaris Company 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.