Kestra Investment Management LLC Takes Position in Valaris Limited (NYSE:VAL)

Kestra Investment Management LLC purchased a new position in Valaris Limited (NYSE:VAL) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 5,286 shares of the company’s stock, valued at approximately $295,000.

Several other large investors also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of Valaris by 180.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $27,000 after purchasing an additional 235 shares during the period. Choreo LLC bought a new stake in Valaris in the second quarter worth $204,000. Evergreen Capital Management LLC purchased a new position in Valaris during the second quarter worth $204,000. Scientech Research LLC bought a new position in Valaris during the second quarter valued at $211,000. Finally, SkyView Investment Advisors LLC bought a new position in Valaris during the second quarter valued at $224,000. 96.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on VAL. Barclays dropped their price target on shares of Valaris from $61.00 to $59.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Citigroup dropped their target price on Valaris from $71.00 to $58.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Benchmark downgraded Valaris from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, Susquehanna dropped their price objective on Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $73.40.

Valaris Stock Performance

Shares of NYSE:VAL opened at $46.36 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market cap of $3.30 billion, a PE ratio of 3.18 and a beta of 1.09. The firm’s 50 day simple moving average is $51.02 and its 200-day simple moving average is $62.78. Valaris Limited has a one year low of $45.42 and a one year high of $84.20.

Insiders Place Their Bets

In other news, SVP Davor Vukadin sold 15,403 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $56.64, for a total transaction of $872,425.92. Following the transaction, the senior vice president now owns 13,334 shares of the company’s stock, valued at approximately $755,237.76. This represents a 53.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Matthew Lyne sold 26,000 shares of Valaris 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 $1,360,118.76. The trade was a 51.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,403 shares of company stock worth $4,028,246 in the last ninety days. 0.12% of the stock is 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.