Stanley Laman Group Ltd. Increases Stock Position in Valaris Limited (NYSE:VAL)

Stanley Laman Group Ltd. raised its position in Valaris Limited (NYSE:VAL) by 18.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,202 shares of the company’s stock after acquiring an additional 10,713 shares during the quarter. Stanley Laman Group Ltd. owned approximately 0.10% of Valaris worth $3,858,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its holdings in Valaris by 180.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $27,000 after purchasing an additional 235 shares during the period. Headlands Technologies LLC bought a new stake in shares of Valaris in the 1st quarter worth approximately $149,000. Choreo LLC purchased a new position in shares of Valaris during the second quarter valued at approximately $204,000. Evergreen Capital Management LLC bought a new position in shares of Valaris during the second quarter valued at approximately $204,000. Finally, Scientech Research LLC purchased a new stake in Valaris in the second quarter worth $211,000. 96.74% of the stock is owned by institutional investors.

Valaris Price Performance

VAL stock opened at $50.35 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 4.41 and a beta of 1.15. The firm has a 50 day moving average price of $56.83 and a 200-day moving average price of $67.14. Valaris Limited has a 52-week low of $49.62 and a 52-week high of $84.20.

Valaris (NYSE:VAL) last released its earnings results on Wednesday, July 31st. The company reported $2.03 EPS for the quarter, topping the consensus estimate of $0.96 by $1.07. Valaris had a return on equity of 12.58% and a net margin of 49.33%. The business had revenue of $610.10 million for the quarter, compared to the consensus estimate of $545.00 million. Equities research analysts forecast that Valaris Limited will post 4.37 EPS for the current fiscal year.

Insider Buying and Selling

In other Valaris news, COO Gilles Luca sold 30,000 shares of the firm’s stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related 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 sale, the senior vice president now directly owns 24,388 shares of the company’s stock, valued at $1,360,118.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Gilles Luca sold 30,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 108,342 shares of the company’s stock, valued at approximately $6,160,326.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,403 shares of company stock worth $4,028,246 in the last quarter. Corporate insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on VAL shares. Benchmark downgraded shares of Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Pickering Energy Partners lowered shares of Valaris from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 16th. Citigroup cut their price objective on Valaris from $95.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Susquehanna decreased their target price on Valaris from $62.00 to $61.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Finally, Barclays dropped their price target on Valaris from $98.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $86.33.

About Valaris

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.