Victory Capital Management Inc. Buys 1,084 Shares of Valaris Limited (NYSE:VAL)

Victory Capital Management Inc. grew its stake in shares of Valaris Limited (NYSE:VAL) by 21.3% during the third quarter, HoldingsChannel reports. The firm owned 6,164 shares of the company’s stock after purchasing an additional 1,084 shares during the quarter. Victory Capital Management Inc.’s holdings in Valaris were worth $344,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of VAL. EverSource Wealth Advisors LLC boosted its stake in Valaris by 180.8% during the first quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $27,000 after acquiring an additional 235 shares in the last quarter. Evergreen Capital Management LLC purchased a new position in Valaris in the second quarter worth about $204,000. Choreo LLC purchased a new position in Valaris in the second quarter worth 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 purchased a new position in Valaris in the second quarter worth about $224,000. Institutional investors own 96.74% of the company’s stock.

Analysts Set New Price Targets

VAL has been the subject of several research reports. Citigroup decreased their price objective on shares of Valaris from $71.00 to $58.00 and set a “buy” rating for the company in a report on Wednesday. Susquehanna decreased their price objective on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Benchmark cut shares of Valaris from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, Barclays decreased their price objective on shares of Valaris from $61.00 to $59.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Valaris has an average rating of “Hold” and an average target price of $73.40.

Insider Activity at Valaris

In related news, COO Gilles Luca sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $56.86, for a total transaction of $1,705,800.00. Following the completion of the sale, the chief operating officer now directly owns 108,342 shares in the company, valued at approximately $6,160,326.12. The trade was a 21.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Davor Vukadin sold 15,403 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $56.64, for a total transaction of $872,425.92. Following the sale, the senior vice president now owns 13,334 shares of the company’s stock, valued at $755,237.76. This trade represents a 53.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,403 shares of company stock worth $4,028,246. 0.12% of the stock is owned by company insiders.

Valaris Stock Performance

Shares of NYSE VAL opened at $46.20 on Friday. The firm has a 50 day moving average of $51.02 and a 200 day moving average of $62.96. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 3.17 and a beta of 1.17. Valaris Limited has a 12-month low of $45.42 and a 12-month high of $84.20.

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.