Valaris Limited (NYSE:VAL) Shares Sold by Fmr LLC

Fmr LLC reduced its position in Valaris Limited (NYSE:VAL) by 9.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,528,138 shares of the company’s stock after selling 468,216 shares during the quarter. Fmr LLC owned about 6.37% of Valaris worth $252,444,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD raised its position in Valaris by 6.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,656 shares of the company’s stock valued at $2,609,000 after purchasing an additional 2,005 shares during the last quarter. Boston Partners raised its holdings in shares of Valaris by 6.5% in the first quarter. Boston Partners now owns 8,914 shares of the company’s stock valued at $671,000 after buying an additional 544 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Valaris by 180.8% during the first quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $27,000 after buying an additional 235 shares during the period. Insight Wealth Strategies LLC grew its holdings in shares of Valaris by 4.6% during the second quarter. Insight Wealth Strategies LLC now owns 7,445 shares of the company’s stock worth $555,000 after buying an additional 326 shares during the last quarter. Finally, Smith Anglin Financial LLC increased its position in Valaris by 72.2% in the 2nd quarter. Smith Anglin Financial LLC now owns 6,440 shares of the company’s stock valued at $480,000 after acquiring an additional 2,700 shares during the period. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Valaris Price Performance

Valaris stock opened at $46.19 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.61. Valaris Limited has a one year low of $45.42 and a one year high of $84.20. The business has a fifty day moving average of $51.02 and a two-hundred day moving average of $62.78. The company has a market cap of $3.29 billion, a P/E ratio of 3.17 and a beta of 1.17.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays lowered their target price on Valaris from $61.00 to $59.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Benchmark lowered shares of Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Citigroup cut their price objective on shares of Valaris from $71.00 to $58.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Finally, Susquehanna lowered their target price on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $73.40.

Insiders Place Their Bets

In other Valaris news, COO Gilles Luca sold 30,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $56.86, for a total transaction of $1,705,800.00. Following the sale, the chief operating officer now directly owns 108,342 shares in the company, valued at approximately $6,160,326.12. The trade was a 21.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Matthew Lyne sold 26,000 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were 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 owns 24,388 shares of the company’s stock, valued at approximately $1,360,118.76. This represents a 51.60 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,403 shares of company stock worth $4,028,246. 0.12% of the stock is owned by company 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.