Insight Wealth Strategies LLC Increases Stock Holdings in Valaris Limited (NYSE:VAL)

Insight Wealth Strategies LLC raised its stake in Valaris Limited (NYSE:VAL) by 23.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,174 shares of the company’s stock after purchasing an additional 1,729 shares during the period. Insight Wealth Strategies LLC’s holdings in Valaris were worth $511,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Deane Retirement Strategies Inc. increased its stake in Valaris by 0.6% in the third quarter. Deane Retirement Strategies Inc. now owns 40,504 shares of the company’s stock valued at $2,259,000 after purchasing an additional 251 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Valaris during the second quarter worth approximately $28,884,000. Creative Planning grew its position in shares of Valaris by 114.6% during the second quarter. Creative Planning now owns 8,599 shares of the company’s stock worth $641,000 after acquiring an additional 4,592 shares during the last quarter. Algert Global LLC purchased a new position in shares of Valaris during the second quarter worth approximately $489,000. Finally, SkyView Investment Advisors LLC purchased a new position in shares of Valaris during the second quarter worth approximately $224,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VAL has been the topic of a number of research reports. Susquehanna initiated coverage on shares of Valaris in a research report on Tuesday, September 24th. They set a “neutral” rating and a $62.00 target price on the stock. Benchmark reaffirmed a “buy” rating and set a $90.00 price target on shares of Valaris in a report on Monday, August 5th. Pickering Energy Partners downgraded Valaris from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 16th. Barclays decreased their price target on Valaris from $98.00 to $91.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Finally, Citigroup decreased 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.50.

Insider Transactions at Valaris

In other news, SVP Matthew Lyne sold 26,000 shares of Valaris stock in a transaction on Monday, September 30th. The stock was sold at an average price of $55.77, for a total transaction 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 $1,360,118.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Davor Vukadin sold 15,403 shares of Valaris stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $56.64, for a total transaction of $872,425.92. Following the completion of the sale, the senior vice president now owns 13,334 shares in the company, valued at approximately $755,237.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Matthew Lyne sold 26,000 shares of Valaris 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 sale, the senior vice president now owns 24,388 shares of the company’s stock, valued at approximately $1,360,118.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,403 shares of company stock valued at $4,028,246 in the last 90 days. 0.12% of the stock is currently owned by insiders.

Valaris Price Performance

Valaris stock opened at $53.87 on Wednesday. Valaris Limited has a one year low of $53.06 and a one year high of $84.20. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.73 and a current ratio of 1.73. The business has a fifty day moving average of $60.09 and a two-hundred day moving average of $68.70. The company has a market cap of $3.92 billion, a P/E ratio of 4.72 and a beta of 1.15.

Valaris (NYSE:VAL) last released its earnings results on Wednesday, July 31st. The company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $1.07. The company had revenue of $610.10 million during 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%. As a group, analysts predict that Valaris Limited will post 4.37 earnings per share for the current fiscal year.

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.