Charles Schwab Investment Management Inc. Raises Stake in Valaris Limited (NYSE:VAL)

Charles Schwab Investment Management Inc. boosted its holdings in Valaris Limited (NYSE:VAL) by 3.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 797,060 shares of the company’s stock after buying an additional 29,031 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.12% of Valaris worth $44,436,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised 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 acquiring an additional 235 shares during the period. Evergreen Capital Management LLC acquired a new stake in Valaris in the 2nd quarter valued at $204,000. Choreo LLC purchased a new position in Valaris in the second quarter valued at about $204,000. Scientech Research LLC acquired a new position in shares of Valaris during the second quarter worth about $211,000. Finally, SkyView Investment Advisors LLC purchased a new stake in shares of Valaris in the second quarter worth about $224,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on VAL. Barclays dropped their target price on Valaris from $61.00 to $59.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Benchmark cut shares of Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Citigroup dropped their price target on shares of Valaris from $71.00 to $58.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Finally, Susquehanna dropped their target price on Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $73.40.

Insider Transactions at Valaris

In other news, SVP Matthew Lyne sold 26,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $55.77, for a total value of $1,450,020.00. Following the transaction, the senior vice president now directly owns 24,388 shares in the company, valued at approximately $1,360,118.76. This trade represents a 51.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Davor Vukadin sold 15,403 shares of Valaris stock in a transaction dated 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 of the company’s stock, valued at $755,237.76. This trade represents a 53.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,403 shares of company stock worth $4,028,246. 0.12% of the stock is currently owned by corporate insiders.

Valaris Stock Up 1.4 %

NYSE:VAL opened at $46.19 on Monday. The stock has a 50-day simple moving average of $51.02 and a 200 day simple moving average of $62.78. Valaris Limited has a one year low of $45.42 and a one year high of $84.20. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 3.17 and a beta of 1.17. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.61.

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.