Victory Capital Management Inc. Has $378,000 Stock Holdings in Valaris Limited (NYSE:VAL)

Victory Capital Management Inc. boosted its stake in shares of Valaris Limited (NYSE:VAL) by 5.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,080 shares of the company’s stock after purchasing an additional 243 shares during the period. Victory Capital Management Inc.’s holdings in Valaris were worth $378,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Lingotto Investment Management LLP increased its stake in shares of Valaris by 3.6% during the 4th quarter. Lingotto Investment Management LLP now owns 3,003,740 shares of the company’s stock worth $205,966,000 after purchasing an additional 104,000 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Valaris by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 1,893,667 shares of the company’s stock worth $129,849,000 after purchasing an additional 77,490 shares during the last quarter. Condire Management LP increased its stake in shares of Valaris by 14.7% during the 1st quarter. Condire Management LP now owns 1,452,097 shares of the company’s stock worth $109,285,000 after purchasing an additional 186,076 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Valaris by 18.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 870,063 shares of the company’s stock worth $59,662,000 after purchasing an additional 135,753 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Valaris by 4.9% during the 1st quarter. Principal Financial Group Inc. now owns 828,385 shares of the company’s stock worth $62,344,000 after purchasing an additional 38,531 shares during the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Valaris

In other news, COO Gilles Luca sold 30,000 shares of the 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 completion of the sale, the chief operating officer now directly owns 108,342 shares in the company, valued at $6,160,326.12. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, COO Gilles Luca sold 30,000 shares of the 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 transaction, the chief operating officer now directly owns 108,342 shares of the company’s stock, valued at $6,160,326.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Davor Vukadin sold 15,403 shares of the 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 transaction, the senior vice president now directly owns 13,334 shares in the company, valued at $755,237.76. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on VAL shares. Pickering Energy Partners lowered shares of Valaris from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 16th. Benchmark reiterated a “buy” rating and issued a $90.00 price target on shares of Valaris in a research note on Monday, August 5th. Citigroup decreased their price target on shares of Valaris from $95.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Finally, Barclays cut their price objective on shares of Valaris from $98.00 to $91.00 and set an “overweight” rating for the company in a report on Friday, August 9th. One 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.40.

Valaris Price Performance

Shares of NYSE:VAL opened at $55.45 on Tuesday. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 4.85 and a beta of 1.17. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a 50 day simple moving average of $65.15 and a 200 day simple moving average of $69.86. Valaris Limited has a one year low of $53.06 and a one year high of $84.20.

Valaris (NYSE:VAL) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $1.07. Valaris had a net margin of 49.33% and a return on equity of 12.58%. The firm had revenue of $610.10 million during the quarter, compared to analysts’ expectations of $545.00 million. Research 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.