Dynamic Technology Lab Private Ltd Takes Position in Valaris Limited (NYSE:VAL)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Valaris Limited (NYSE:VAL) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 15,765 shares of the company’s stock, valued at approximately $879,000.

Other hedge funds also recently added to or reduced their stakes in the company. Lingotto Investment Management LLP raised its position in Valaris by 1.2% in the second quarter. Lingotto Investment Management LLP now owns 3,040,610 shares of the company’s stock valued at $226,525,000 after purchasing an additional 36,870 shares during the period. Marshall Wace LLP lifted its position in Valaris by 5.9% in the second quarter. Marshall Wace LLP now owns 1,882,846 shares of the company’s stock valued at $140,272,000 after buying an additional 105,330 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Valaris by 23.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company’s stock valued at $88,573,000 after buying an additional 225,283 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Valaris by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 797,060 shares of the company’s stock worth $44,436,000 after buying an additional 29,031 shares during the period. Finally, Waverton Investment Management Ltd increased its position in shares of 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 last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Valaris Stock Performance

Shares of Valaris stock opened at $45.57 on Thursday. The business has a 50-day simple moving average of $51.41 and a 200-day simple moving average of $63.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.61. Valaris Limited has a one year low of $45.42 and a one year high of $84.20. The company has a market cap of $3.24 billion, a PE ratio of 3.13 and a beta of 1.17.

Insider Buying and Selling

In other news, SVP Matthew Lyne sold 26,000 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $55.77, for a total value of $1,450,020.00. Following the transaction, the senior vice president now owns 24,388 shares in the company, valued at approximately $1,360,118.76. This represents a 51.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Gilles Luca sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $56.86, for a total value of $1,705,800.00. Following the sale, the chief operating officer now owns 108,342 shares of the company’s stock, valued at approximately $6,160,326.12. The trade was a 21.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,403 shares of company stock worth $4,028,246 over the last 90 days. 0.12% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on VAL. Susquehanna dropped their target price 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. Citigroup cut their price objective on Valaris from $71.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday. Barclays lowered their target price on Valaris from $61.00 to $59.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Benchmark lowered shares of Valaris from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $77.83.

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.