Sigma Planning Corp Increases Stock Holdings in Valaris Limited (NYSE:VAL)

Sigma Planning Corp increased its position in shares of Valaris Limited (NYSE:VAL) by 16.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,728 shares of the company’s stock after purchasing an additional 670 shares during the period. Sigma Planning Corp’s holdings in Valaris were worth $264,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of VAL. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Valaris during the 2nd quarter worth approximately $28,884,000. Dimensional Fund Advisors LP raised its position in Valaris by 23.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company’s stock valued at $88,573,000 after purchasing an additional 225,283 shares during the period. Condire Management LP raised its position in Valaris by 14.7% in the first quarter. Condire Management LP now owns 1,452,097 shares of the company’s stock valued at $109,285,000 after purchasing an additional 186,076 shares during the period. AQR Capital Management LLC lifted its stake in shares of Valaris by 338.5% in the 2nd quarter. AQR Capital Management LLC now owns 236,379 shares of the company’s stock valued at $17,426,000 after purchasing an additional 182,467 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Valaris during the 2nd quarter worth $13,306,000. 96.74% of the stock is owned by hedge funds and other institutional investors.

Valaris Stock Down 4.1 %

VAL stock opened at $48.51 on Friday. Valaris Limited has a fifty-two week low of $48.04 and a fifty-two week high of $84.20. The company’s 50 day moving average price is $52.68 and its 200 day moving average price is $64.56. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 3.33 and a beta of 1.17.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Benchmark cut shares of Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Susquehanna decreased their price target on Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Barclays dropped their price objective on Valaris from $61.00 to $59.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, Citigroup cut their price objective on Valaris from $95.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $80.00.

Insider Activity

In related news, COO Gilles Luca sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $56.86, for a total value of $1,705,800.00. Following the completion of the transaction, the chief operating officer now directly owns 108,342 shares of the company’s stock, valued at $6,160,326.12. This represents a 21.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Davor Vukadin sold 15,403 shares of the firm’s 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 sale, the senior vice president now directly owns 13,334 shares in the company, valued at approximately $755,237.76. The trade was a 53.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,403 shares of company stock worth $4,028,246. 0.12% of the stock is currently owned by corporate insiders.

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.