Algert Global LLC Acquires Shares of 6,560 Valaris Limited (NYSE:VAL)

Algert Global LLC bought a new position in Valaris Limited (NYSE:VAL) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,560 shares of the company’s stock, valued at approximately $489,000.

Several other hedge funds and other institutional investors also recently modified their holdings of VAL. SeaCrest Wealth Management LLC grew its stake in Valaris by 1.0% in the 1st quarter. SeaCrest Wealth Management LLC now owns 16,124 shares of the company’s stock valued at $1,213,000 after buying an additional 152 shares in the last quarter. Insight Wealth Strategies LLC grew its position in shares of Valaris by 3.0% in the first quarter. Insight Wealth Strategies LLC now owns 7,119 shares of the company’s stock valued at $536,000 after purchasing an additional 210 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Valaris by 1.2% during the 2nd quarter. Arizona State Retirement System now owns 18,244 shares of the company’s stock valued at $1,359,000 after purchasing an additional 214 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Valaris by 180.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $27,000 after purchasing an additional 235 shares in the last quarter. Finally, World Equity Group Inc. boosted its stake in Valaris by 1.9% in the 2nd quarter. World Equity Group Inc. now owns 12,827 shares of the company’s stock worth $956,000 after purchasing an additional 238 shares during the period. Institutional investors own 96.74% of the company’s stock.

Valaris Stock Up 0.5 %

VAL opened at $56.38 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.49. The business’s fifty day simple moving average is $60.52 and its 200 day simple moving average is $68.83. Valaris Limited has a 52 week low of $53.06 and a 52 week high of $84.20. The stock has a market cap of $4.08 billion, a PE ratio of 4.89 and a beta of 1.15.

Valaris (NYSE:VAL) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $1.07. The company had revenue of $610.10 million for the quarter, compared to analysts’ expectations of $545.00 million. Valaris had a return on equity of 12.58% and a net margin of 49.33%. As a group, research analysts expect that Valaris Limited will post 4.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Matthew Lyne sold 26,000 shares of the company’s stock in a transaction on 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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Davor Vukadin sold 15,403 shares of the firm’s stock in a transaction that occurred 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Matthew Lyne sold 26,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,403 shares of company stock valued at $4,028,246. 0.12% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Susquehanna assumed coverage on Valaris in a research report on Tuesday, September 24th. They set a “neutral” rating and a $62.00 price target on the stock. Benchmark reissued a “buy” rating and issued a $90.00 price target on shares of Valaris in a report 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 report on Thursday, September 12th. Barclays dropped their price objective on Valaris from $98.00 to $91.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Finally, Pickering Energy Partners lowered Valaris from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.50.

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.