Crossmark Global Holdings Inc. Purchases 907 Shares of Valaris Limited (NYSE:VAL)

Crossmark Global Holdings Inc. increased its holdings in shares of Valaris Limited (NYSE:VAL) by 25.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,524 shares of the company’s stock after acquiring an additional 907 shares during the period. Crossmark Global Holdings Inc.’s holdings in Valaris were worth $253,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Valaris during the second quarter worth approximately $28,884,000. Dimensional Fund Advisors LP boosted its position in Valaris by 23.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company’s stock valued at $88,573,000 after buying an additional 225,283 shares during the last quarter. Condire Management LP raised its position in shares of Valaris by 14.7% during the first quarter. Condire Management LP now owns 1,452,097 shares of the company’s stock worth $109,285,000 after acquiring an additional 186,076 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Valaris by 338.5% during the second quarter. AQR Capital Management LLC now owns 236,379 shares of the company’s stock valued at $17,426,000 after acquiring an additional 182,467 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in Valaris in the second quarter valued at about $13,306,000. 96.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on VAL. Susquehanna dropped their price objective on Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Benchmark lowered shares of Valaris from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Citigroup lowered their target price on shares of Valaris from $95.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Finally, Barclays cut their price target on Valaris from $61.00 to $59.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $80.00.

Valaris Stock Down 0.4 %

Valaris stock opened at $48.30 on Tuesday. Valaris Limited has a fifty-two week low of $47.87 and a fifty-two week high of $84.20. The firm has a market capitalization of $3.43 billion, a PE ratio of 3.32 and a beta of 1.17. The company’s 50-day moving average is $52.53 and its 200-day moving average is $64.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.61.

Insider Buying and Selling

In related news, COO Gilles Luca sold 30,000 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 108,342 shares of the company’s stock, valued at $6,160,326.12. This trade represents a 21.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Davor Vukadin sold 15,403 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $56.64, for a total transaction of $872,425.92. Following the sale, the senior vice president now directly owns 13,334 shares in the company, valued at approximately $755,237.76. The trade was a 53.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,403 shares of company stock valued at $4,028,246. 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.