Valaris Limited (NYSE:VAL) Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC raised its position in shares of Valaris Limited (NYSE:VAL) by 202.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,490 shares of the company’s stock after purchasing an additional 7,024 shares during the quarter. HighTower Advisors LLC’s holdings in Valaris were worth $591,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Arizona State Retirement System boosted its position in Valaris by 1.2% in the second quarter. Arizona State Retirement System now owns 18,244 shares of the company’s stock valued at $1,359,000 after buying an additional 214 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Valaris by 5.0% during the 2nd quarter. Victory Capital Management Inc. now owns 5,080 shares of the company’s stock valued at $378,000 after acquiring an additional 243 shares during the period. Deane Retirement Strategies Inc. boosted its holdings in shares of Valaris by 0.6% in the 3rd quarter. Deane Retirement Strategies Inc. now owns 40,504 shares of the company’s stock valued at $2,259,000 after acquiring an additional 251 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Valaris by 0.6% in the second quarter. The Manufacturers Life Insurance Company now owns 73,525 shares of the company’s stock worth $5,478,000 after acquiring an additional 427 shares during the period. Finally, Saturna Capital Corp raised its holdings in shares of Valaris by 4.8% during the third quarter. Saturna Capital Corp now owns 13,290 shares of the company’s stock worth $741,000 after purchasing an additional 604 shares during the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Matthew Lyne sold 26,000 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were 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 in the company, valued at $1,360,118.76. This represents a 51.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.12% of the company’s stock.

Valaris Stock Down 0.7 %

Shares of VAL opened at $40.92 on Friday. The firm has a market cap of $2.91 billion, a P/E ratio of 2.81 and a beta of 1.09. Valaris Limited has a 12 month low of $40.73 and a 12 month high of $84.20. The stock’s 50 day moving average is $47.92 and its two-hundred day moving average is $59.89. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.51.

Wall Street Analysts Forecast Growth

VAL has been the topic of several analyst reports. Citigroup downgraded Valaris from a “buy” rating to a “neutral” rating and cut their price target for the stock from $58.00 to $47.00 in a research report on Monday, December 9th. Barclays reaffirmed an “equal weight” rating and set a $49.00 target price (down from $59.00) on shares of Valaris in a report on Wednesday. Benchmark downgraded Valaris from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. began coverage on Valaris in a research report on Friday, December 6th. They issued an “underweight” rating and a $40.00 price objective on the stock. Finally, Susquehanna cut their target price on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Valaris currently has a consensus rating of “Hold” and an average target price of $64.33.

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.