State of Alaska Department of Revenue Boosts Holdings in Valaris Limited (NYSE:VAL)

State of Alaska Department of Revenue boosted its stake in Valaris Limited (NYSE:VAL) by 14.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,735 shares of the company’s stock after acquiring an additional 965 shares during the period. State of Alaska Department of Revenue’s holdings in Valaris were worth $431,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of VAL. EverSource Wealth Advisors LLC increased its stake in Valaris by 180.8% in the first quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $27,000 after purchasing an additional 235 shares during the period. Headlands Technologies LLC acquired a new position in Valaris in the 1st quarter valued at about $149,000. Choreo LLC purchased a new stake in Valaris during the 2nd quarter valued at approximately $204,000. Evergreen Capital Management LLC purchased a new stake in Valaris during the 2nd quarter valued at approximately $204,000. Finally, Scientech Research LLC acquired a new stake in Valaris during the 2nd quarter worth approximately $211,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Insider Transactions at Valaris

In other Valaris news, SVP Davor Vukadin sold 15,403 shares of the company’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 value of $872,425.92. Following the completion of the transaction, the senior vice president now owns 13,334 shares in the company, valued at $755,237.76. This 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. In other news, SVP Matthew Lyne sold 26,000 shares of the business’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 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Davor Vukadin sold 15,403 shares of the company’s 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 sale, the senior vice president now owns 13,334 shares in the company, valued at approximately $755,237.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,403 shares of company stock valued at $4,028,246 over the last quarter. Company insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on VAL. Barclays reduced their price objective on shares of Valaris from $61.00 to $59.00 and set an “overweight” rating for the company in a research report on Tuesday. Susquehanna reduced their price target on Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Pickering Energy Partners lowered Valaris from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 16th. Citigroup reduced their target price on Valaris from $95.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Finally, Benchmark cut shares of Valaris from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $80.00.

Valaris Stock Down 2.4 %

Shares of NYSE VAL opened at $49.99 on Friday. The stock has a fifty day moving average price of $53.65 and a 200 day moving average price of $65.33. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.51. Valaris Limited has a 12-month low of $48.04 and a 12-month high of $84.20. The company has a market cap of $3.56 billion, a P/E ratio of 3.44 and a beta of 1.17.

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.