Valaris Limited (NYSE:VAL) Stock Position Increased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its position in Valaris Limited (NYSE:VAL) by 3.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 797,060 shares of the company’s stock after buying an additional 29,031 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Valaris were worth $44,436,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Landscape Capital Management L.L.C. bought a new position in Valaris in the 3rd quarter worth approximately $951,000. Intech Investment Management LLC bought a new position in shares of Valaris in the third quarter worth $3,940,000. Jennison Associates LLC bought a new position in shares of Valaris in the third quarter worth $904,000. Drive Wealth Management LLC acquired a new position in shares of Valaris during the third quarter valued at $399,000. Finally, Thrivent Financial for Lutherans raised its stake in shares of Valaris by 4.0% during the third quarter. Thrivent Financial for Lutherans now owns 15,651 shares of the company’s stock valued at $873,000 after purchasing an additional 604 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Insider Activity

In other news, SVP Matthew Lyne sold 26,000 shares of Valaris stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 24,388 shares of the company’s stock, valued at $1,360,118.76. This trade represents a 51.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Davor Vukadin sold 15,403 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were 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 owns 13,334 shares of the company’s stock, valued at approximately $755,237.76. This trade represents a 53.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,403 shares of company stock worth $4,028,246. Insiders own 0.12% of the company’s stock.

Valaris Trading Up 1.4 %

Shares of NYSE:VAL 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. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 3.17 and a beta of 1.17. Valaris Limited has a 1-year low of $45.42 and a 1-year high of $84.20. The company has a 50 day moving average price of $51.02 and a 200 day moving average price of $62.78.

Analyst Upgrades and Downgrades

Several equities analysts have commented on VAL shares. 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 research note on Friday, November 1st. Barclays lowered their price objective on shares of Valaris from $61.00 to $59.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Benchmark downgraded Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Finally, Citigroup decreased their price target on Valaris from $71.00 to $58.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Valaris presently has an average rating of “Hold” and an average target price of $73.40.

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.