Swiss National Bank Has $7.10 Million Stake in Valaris Limited (NYSE:VAL)

Swiss National Bank reduced its position in Valaris Limited (NYSE:VAL) by 0.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,300 shares of the company’s stock after selling 900 shares during the period. Swiss National Bank’s holdings in Valaris were worth $7,097,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of VAL. EverSource Wealth Advisors LLC increased its holdings in Valaris by 180.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $27,000 after purchasing an additional 235 shares in the last quarter. Evergreen Capital Management LLC purchased a new position in shares of Valaris during the second quarter valued at approximately $204,000. Choreo LLC bought a new stake in Valaris during the second quarter worth $204,000. Scientech Research LLC purchased a new stake in Valaris in the 2nd quarter valued at $211,000. Finally, SkyView Investment Advisors LLC bought a new position in Valaris during the 2nd quarter valued at $224,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on VAL. Citigroup lowered their target price on shares of Valaris from $95.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Barclays decreased their price objective on shares of Valaris from $61.00 to $59.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Susquehanna cut their target price on Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Finally, Benchmark downgraded Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. One investment 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. According to MarketBeat, Valaris has a consensus rating of “Hold” and a consensus target price of $80.00.

Insider Buying and Selling at Valaris

In other news, SVP Matthew Lyne sold 26,000 shares of the business’s 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 sale, the senior vice president now owns 24,388 shares of the company’s stock, valued at $1,360,118.76. The trade was a 51.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Gilles Luca sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $56.86, for a total transaction 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 approximately $6,160,326.12. This trade represents a 21.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,403 shares of company stock valued at $4,028,246. Company insiders own 0.12% of the company’s stock.

Valaris Trading Down 3.4 %

Shares of VAL stock opened at $45.97 on Wednesday. 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 firm has a market cap of $3.27 billion, a P/E ratio of 3.16 and a beta of 1.17. The company has a 50 day moving average of $51.61 and a 200-day moving average of $63.40. Valaris Limited has a 12-month low of $45.97 and a 12-month high of $84.20.

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.