Saturna Capital Corp Raises Holdings in Valaris Limited (NYSE:VAL)

Saturna Capital Corp raised its holdings in shares of Valaris Limited (NYSE:VAL) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,290 shares of the company’s stock after purchasing an additional 604 shares during the period. Saturna Capital Corp’s holdings in Valaris were worth $741,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in VAL. Lingotto Investment Management LLP boosted its stake in shares of Valaris by 1.2% in the 2nd quarter. Lingotto Investment Management LLP now owns 3,040,610 shares of the company’s stock worth $226,525,000 after buying an additional 36,870 shares during the last quarter. Marshall Wace LLP raised its holdings in Valaris by 5.9% in the 2nd quarter. Marshall Wace LLP now owns 1,882,846 shares of the company’s stock worth $140,272,000 after purchasing an additional 105,330 shares during the period. Condire Management LP raised its holdings in Valaris by 14.7% during the first quarter. Condire Management LP now owns 1,452,097 shares of the company’s stock valued at $109,285,000 after acquiring an additional 186,076 shares during the period. Dimensional Fund Advisors LP raised its holdings in Valaris by 23.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company’s stock valued at $88,573,000 after acquiring an additional 225,283 shares during the period. Finally, Waverton Investment Management Ltd raised its holdings in Valaris by 20.4% during the third quarter. Waverton Investment Management Ltd now owns 670,885 shares of the company’s stock valued at $37,412,000 after acquiring an additional 113,509 shares during the period. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Valaris Stock Up 0.3 %

Valaris stock opened at $50.50 on Wednesday. The business has a fifty day moving average of $53.09 and a two-hundred day moving average of $64.91. 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 firm has a market cap of $3.59 billion, a P/E ratio of 3.46 and a beta of 1.17. Valaris Limited has a twelve month low of $48.04 and a twelve month high of $84.20.

Insiders Place Their Bets

In other Valaris news, SVP Matthew Lyne sold 26,000 shares of the company’s 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 completion of the sale, the senior vice president now owns 24,388 shares in the company, valued at $1,360,118.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Matthew Lyne sold 26,000 shares of the 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 completion of the sale, the senior vice president now owns 24,388 shares in the company, valued at approximately $1,360,118.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Davor Vukadin sold 15,403 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $56.64, for a total value of $872,425.92. Following the sale, the senior vice president now owns 13,334 shares of the company’s stock, valued at approximately $755,237.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,403 shares of company stock worth $4,028,246 over the last 90 days. Company insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

VAL has been the subject of a number of research analyst reports. Benchmark lowered Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Barclays dropped their price target on Valaris from $61.00 to $59.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Susquehanna dropped their target price on Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Pickering Energy Partners lowered Valaris from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 16th. Finally, Citigroup decreased their price target on shares of Valaris from $95.00 to $71.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $80.00.

Valaris 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.