UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stake in Valaris Limited (NYSE:VAL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Valaris Limited (NYSE:VAL) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,292 shares of the company’s stock after purchasing an additional 2,598 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Valaris were worth $6,985,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of VAL. Evergreen Capital Management LLC acquired a new stake in shares of Valaris in the 2nd quarter worth $204,000. Choreo LLC purchased a new stake in Valaris in the second quarter valued at about $204,000. Scientech Research LLC purchased a new stake in Valaris in the second quarter valued at about $211,000. SkyView Investment Advisors LLC acquired a new position in shares of Valaris during the second quarter valued at about $224,000. Finally, nVerses Capital LLC acquired a new position in shares of Valaris during the second quarter valued at about $298,000. 96.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Matthew Lyne sold 26,000 shares of the business’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 directly owns 24,388 shares in the company, valued at $1,360,118.76. The trade was a 51.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.12% of the stock is owned by corporate insiders.

Valaris Stock Performance

Shares of VAL stock opened at $44.72 on Tuesday. Valaris Limited has a 52-week low of $41.66 and a 52-week high of $84.20. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.51. The stock has a market cap of $3.18 billion, a PE ratio of 3.07 and a beta of 1.09. The business has a 50-day simple moving average of $49.97 and a 200-day simple moving average of $61.66.

Wall Street Analysts Forecast Growth

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

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.