Mutual of America Capital Management LLC Sells 3,312 Shares of Valaris Limited (NYSE:VAL)

Mutual of America Capital Management LLC lowered its holdings in Valaris Limited (NYSE:VAL) by 4.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 72,959 shares of the company’s stock after selling 3,312 shares during the quarter. Mutual of America Capital Management LLC owned 0.10% of Valaris worth $5,435,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in shares of Valaris by 180.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $27,000 after purchasing an additional 235 shares during the period. Assetmark Inc. grew its holdings in Valaris by 88.3% during the 4th quarter. Assetmark Inc. now owns 1,747 shares of the company’s stock worth $120,000 after acquiring an additional 819 shares during the period. Headlands Technologies LLC bought a new stake in Valaris in the first quarter valued at about $149,000. Choreo LLC acquired a new stake in shares of Valaris in the 2nd quarter valued at approximately $204,000. Finally, Fermata Advisors LLC acquired a new stake in Valaris during the 2nd quarter worth $237,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on VAL shares. Benchmark restated a “buy” rating and issued a $90.00 price target on shares of Valaris in a report on Monday, August 5th. Barclays dropped their target price 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. Citigroup cut their price target on Valaris from $95.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Finally, Pickering Energy Partners lowered Valaris from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $91.40.

Valaris Stock Performance

VAL opened at $55.31 on Friday. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 4.84 and a beta of 1.17. Valaris Limited has a 1-year low of $53.06 and a 1-year high of $84.20. The company’s fifty day moving average price is $65.15 and its two-hundred day moving average price is $69.80. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.49.

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

Insider Transactions at Valaris

In other news, COO Gilles Luca sold 30,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $56.86, for a total transaction of $1,705,800.00. Following the sale, the chief operating officer now owns 108,342 shares in the company, valued at approximately $6,160,326.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, SVP Davor Vukadin sold 15,403 shares of Valaris stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $56.64, for a total transaction 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 $755,237.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Gilles Luca sold 30,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $56.86, for a total transaction of $1,705,800.00. Following the sale, the chief operating officer now owns 108,342 shares of the company’s stock, valued at $6,160,326.12. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

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.