Symmetry Investments LP Makes New Investment in Valaris Limited (NYSE:VAL)

Symmetry Investments LP purchased a new stake in Valaris Limited (NYSE:VAL) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 64,194 shares of the company’s stock, valued at approximately $4,782,000.

Several other hedge funds have also recently modified their holdings of the business. Lee Johnson Capital Management LLC purchased a new position in Valaris during the first quarter valued at approximately $7,355,000. Norges Bank purchased a new stake in Valaris during the fourth quarter valued at approximately $43,282,000. Dimensional Fund Advisors LP boosted its stake in Valaris by 18.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 870,063 shares of the company’s stock valued at $59,662,000 after acquiring an additional 135,753 shares in the last quarter. SG Americas Securities LLC grew its holdings in Valaris by 699.3% in the first quarter. SG Americas Securities LLC now owns 16,881 shares of the company’s stock worth $1,270,000 after purchasing an additional 14,769 shares during the last quarter. Finally, Diversify Advisory Services LLC purchased a new stake in shares of Valaris during the 1st quarter valued at $8,743,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Analyst Ratings Changes

VAL has been the topic of a number of research analyst reports. Pickering Energy Partners lowered Valaris from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 16th. Citigroup cut their price target on shares of Valaris from $95.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Barclays dropped their price objective on shares of Valaris from $98.00 to $91.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, Benchmark reaffirmed a “buy” rating and set a $90.00 price target on shares of Valaris in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.40.

Insider Transactions at Valaris

In related news, SVP Davor Vukadin sold 15,403 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $56.64, for a total value of $872,425.92. Following the completion of the transaction, the senior vice president now directly owns 13,334 shares in the company, valued at approximately $755,237.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO Gilles Luca sold 30,000 shares of the 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 sale, the chief operating officer now owns 108,342 shares of the company’s stock, valued at $6,160,326.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Davor Vukadin sold 15,403 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $56.64, for a total value 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 $755,237.76. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

Valaris Trading Down 1.6 %

NYSE VAL opened at $55.31 on Friday. Valaris Limited has a 1 year low of $53.06 and a 1 year high of $84.20. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.73 and a quick ratio of 1.73. The company has a market capitalization of $4.01 billion, a PE ratio of 4.84 and a beta of 1.17. The company has a fifty day moving average of $65.15 and a 200 day moving average of $69.80.

Valaris (NYSE:VAL) last issued its earnings results on Wednesday, July 31st. The company reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $1.07. The firm had revenue of $610.10 million for the quarter, compared to the consensus estimate of $545.00 million. Valaris had a return on equity of 12.58% and a net margin of 49.33%. Research analysts forecast that Valaris Limited will post 4.37 earnings per share for the current year.

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.