Spire Wealth Management Buys 821 Shares of Valaris Limited (NYSE:VAL)

Spire Wealth Management grew its stake in Valaris Limited (NYSE:VAL) by 24.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,206 shares of the company’s stock after acquiring an additional 821 shares during the period. Spire Wealth Management’s holdings in Valaris were worth $186,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Deane Retirement Strategies Inc. grew its position in shares of Valaris by 6.1% during the 4th quarter. Deane Retirement Strategies Inc. now owns 42,984 shares of the company’s stock worth $1,902,000 after buying an additional 2,480 shares during the period. KBC Group NV grew its position in shares of Valaris by 63.3% during the 4th quarter. KBC Group NV now owns 2,929 shares of the company’s stock worth $130,000 after buying an additional 1,135 shares during the period. Blue Trust Inc. grew its position in shares of Valaris by 41.0% during the 4th quarter. Blue Trust Inc. now owns 1,758 shares of the company’s stock worth $78,000 after buying an additional 511 shares during the period. Drive Wealth Management LLC grew its position in shares of Valaris by 26.4% during the 4th quarter. Drive Wealth Management LLC now owns 9,054 shares of the company’s stock worth $401,000 after buying an additional 1,893 shares during the period. Finally, Systrade AG grew its position in shares of Valaris by 100.0% during the 4th quarter. Systrade AG now owns 40,000 shares of the company’s stock worth $1,770,000 after buying an additional 20,000 shares during the period. 96.74% of the stock is owned by institutional investors.

Valaris Stock Down 1.2 %

Shares of NYSE:VAL opened at $45.87 on Friday. Valaris Limited has a 52 week low of $39.90 and a 52 week high of $84.20. 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 company has a market capitalization of $3.26 billion, a PE ratio of 3.15 and a beta of 1.10. The company has a 50 day moving average price of $45.40 and a two-hundred day moving average price of $53.05.

Wall Street Analyst Weigh In

Several brokerages have recently commented on VAL. Benchmark cut shares of Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Evercore ISI cut shares of Valaris from an “outperform” rating to an “in-line” rating and lowered their price target for the stock from $87.00 to $59.00 in a research report on Wednesday, January 15th. Susquehanna lowered their price target on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Citigroup upped their target price on shares of Valaris from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. started coverage on shares of Valaris in a research note on Friday, December 6th. They issued an “underweight” rating and a $40.00 target price for the company. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $56.83.

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.