Fmr LLC Trims Holdings in Valaris Limited (NYSE:VAL)

Fmr LLC reduced its holdings in Valaris Limited (NYSE:VAL) by 9.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,528,138 shares of the company’s stock after selling 468,216 shares during the quarter. Fmr LLC owned about 0.06% of Valaris worth $252,444,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Barclays cut their target price on Valaris from $61.00 to $59.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Susquehanna reduced their price objective on Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Citigroup dropped their target price 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, Benchmark cut shares of 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 given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $73.40.

Valaris Stock Performance

Shares of NYSE:VAL opened at $46.19 on Monday. The company has a market cap of $3.29 billion, a P/E ratio of 3.17 and a beta of 1.17. Valaris Limited has a one year low of $45.42 and a one year high of $84.20. The business’s 50-day simple moving average is $51.02 and its 200 day simple moving average is $62.78. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.61.

Insider Activity

In related news, SVP Matthew Lyne sold 26,000 shares of the stock in a transaction dated Monday, September 30th. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Gilles Luca sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $56.86, for a total value of $1,705,800.00. Following the sale, the chief operating officer now 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 position. The disclosure for this sale can be found here. Insiders have sold 71,403 shares of company stock worth $4,028,246 over the last 90 days. Company insiders own 0.12% of the company’s stock.

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.