Waverton Investment Management Ltd Raises Stock Position in Valaris Limited (NYSE:VAL)

Waverton Investment Management Ltd lifted its stake in shares of Valaris Limited (NYSE:VAL) by 20.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 670,885 shares of the company’s stock after buying an additional 113,509 shares during the quarter. Waverton Investment Management Ltd’s holdings in Valaris were worth $37,412,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in shares of 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 buying an additional 235 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Valaris in the 1st quarter valued at $149,000. Evergreen Capital Management LLC purchased a new stake in Valaris in the 2nd quarter valued at $204,000. Choreo LLC purchased a new stake in Valaris in the 2nd quarter valued at $204,000. Finally, Scientech Research LLC purchased a new stake in Valaris in the 2nd quarter valued at $211,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Wall Street Analyst Weigh In

VAL has been the subject of several research reports. Benchmark downgraded shares of Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Citigroup dropped their price objective 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. Susquehanna dropped their price objective on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Barclays dropped their price objective on shares of Valaris from $61.00 to $59.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Pickering Energy Partners cut shares of 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, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $80.00.

Valaris Stock Performance

NYSE:VAL opened at $51.19 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.51. Valaris Limited has a fifty-two week low of $48.04 and a fifty-two week high of $84.20. The stock has a market cap of $3.64 billion, a PE ratio of 3.52 and a beta of 1.17. The firm’s fifty day simple moving average is $53.23 and its 200-day simple moving average is $65.04.

Insider Transactions at Valaris

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 transaction of $1,450,020.00. Following the transaction, the senior vice president now directly owns 24,388 shares of the company’s stock, valued at $1,360,118.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, COO Gilles Luca sold 30,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $56.86, for a total value of $1,705,800.00. Following the sale, the chief operating officer now directly owns 108,342 shares of the company’s stock, valued at approximately $6,160,326.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Matthew Lyne sold 26,000 shares of the 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 sale, the senior vice president now directly owns 24,388 shares in the company, valued at approximately $1,360,118.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,403 shares of company stock valued at $4,028,246 in the last ninety days. 0.12% of the stock is currently owned by company insiders.

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.