Wellington Management Group LLP Lowers Stock Holdings in Valaris Limited (NYSE:VAL)

Wellington Management Group LLP lowered its stake in Valaris Limited (NYSE:VAL) by 36.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,445,567 shares of the company’s stock after selling 816,178 shares during the period. Wellington Management Group LLP’s holdings in Valaris were worth $80,590,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VAL. Quarry LP bought a new position in shares of Valaris during the third quarter valued at $25,000. Choreo LLC bought a new stake in Valaris during the 2nd quarter valued at about $204,000. Evergreen Capital Management LLC bought a new stake in Valaris during the 2nd quarter valued at about $204,000. Scientech Research LLC purchased a new position in Valaris in the second quarter worth about $211,000. Finally, SkyView Investment Advisors LLC bought a new position in shares of Valaris in the second quarter worth approximately $224,000. Institutional investors own 96.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on VAL shares. Barclays reduced their price target on shares of Valaris from $61.00 to $59.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Citigroup cut Valaris from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $58.00 to $47.00 in a research note on Monday. Benchmark downgraded Valaris from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. initiated coverage on Valaris in a research report on Friday, December 6th. They issued an “underweight” rating and a $40.00 target price for the company. Finally, Susquehanna dropped their price target on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $66.00.

Valaris Trading Up 1.2 %

Valaris stock opened at $45.27 on Wednesday. Valaris Limited has a 52-week low of $41.66 and a 52-week high of $84.20. The company has a market cap of $3.22 billion, a P/E ratio of 3.07 and a beta of 1.09. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.51. The business has a 50-day simple moving average of $49.75 and a two-hundred day simple moving average of $61.46.

Insider Buying and Selling

In related news, SVP Matthew Lyne sold 26,000 shares of Valaris stock in a transaction on Monday, September 30th. The stock was 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 in the company, valued at approximately $1,360,118.76. The trade was a 51.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.12% of the stock is currently owned by 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.