Valaris Limited (NYSE:VAL) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp trimmed its holdings in Valaris Limited (NYSE:VAL) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 927,620 shares of the company’s stock after selling 27,850 shares during the quarter. Van ECK Associates Corp owned 1.30% of Valaris worth $41,038,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of VAL. Creative Planning lifted its holdings in Valaris by 20.4% in the 3rd quarter. Creative Planning now owns 10,350 shares of the company’s stock valued at $577,000 after acquiring an additional 1,751 shares during the last quarter. NBC Securities Inc. lifted its stake in Valaris by 55.6% during the third quarter. NBC Securities Inc. now owns 12,040 shares of the company’s stock valued at $671,000 after buying an additional 4,300 shares in the last quarter. nVerses Capital LLC lifted its stake in Valaris by 47.5% during the third quarter. nVerses Capital LLC now owns 5,900 shares of the company’s stock valued at $329,000 after buying an additional 1,900 shares in the last quarter. Venture Visionary Partners LLC purchased a new stake in Valaris during the third quarter valued at about $1,536,000. Finally, Stanley Laman Group Ltd. lifted its stake in Valaris by 18.3% during the third quarter. Stanley Laman Group Ltd. now owns 69,202 shares of the company’s stock valued at $3,858,000 after buying an additional 10,713 shares in the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Barclays reaffirmed an “equal weight” rating and set a $49.00 price objective (down from $59.00) on shares of Valaris in a research note on Wednesday, December 18th. Susquehanna reduced their price objective on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Citigroup upped their price objective on shares of Valaris from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. assumed coverage on Valaris in a report on Friday, December 6th. They issued an “underweight” rating and a $40.00 target price on the stock. Finally, Evercore ISI downgraded Valaris from an “outperform” rating to an “in-line” rating and dropped their target price for the company from $87.00 to $59.00 in a report on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $56.83.

Valaris Price Performance

Shares of VAL opened at $45.70 on Friday. The business’s 50-day moving average is $45.45 and its 200-day moving average is $51.97. Valaris Limited has a fifty-two week low of $39.90 and a fifty-two week high of $84.20. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 3.14 and a beta of 1.10. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.61.

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.