Drive Wealth Management LLC Makes New $399,000 Investment in Valaris Limited (NYSE:VAL)

Drive Wealth Management LLC purchased a new stake in shares of Valaris Limited (NYSE:VAL) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,161 shares of the company’s stock, valued at approximately $399,000.

Other large investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in Valaris by 180.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $27,000 after acquiring an additional 235 shares in the last quarter. Choreo LLC bought a new position in shares of Valaris during the second quarter valued at $204,000. Evergreen Capital Management LLC purchased a new stake in shares of Valaris during the second quarter valued at $204,000. Scientech Research LLC bought a new stake in Valaris in the 2nd quarter worth about $211,000. Finally, SkyView Investment Advisors LLC purchased a new position in Valaris in the 2nd quarter worth about $224,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Insider Activity

In related news, SVP Davor Vukadin sold 15,403 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $56.64, for a total value of $872,425.92. Following the transaction, the senior vice president now directly owns 13,334 shares of the company’s stock, valued at approximately $755,237.76. The trade was a 53.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Gilles Luca sold 30,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $56.86, for a total transaction of $1,705,800.00. Following the completion of the transaction, the chief operating officer now directly owns 108,342 shares in the company, valued at $6,160,326.12. This trade represents a 21.69 % 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 valued at $4,028,246 in the last ninety days. Corporate insiders own 0.12% of the company’s stock.

Valaris Trading Down 0.4 %

NYSE:VAL opened at $48.30 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.61. The business has a fifty day moving average price of $52.53 and a 200-day moving average price of $64.44. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 3.32 and a beta of 1.17. Valaris Limited has a one year low of $47.87 and a one year high of $84.20.

Analyst Ratings Changes

VAL has been the topic of a number of recent analyst reports. Citigroup dropped their price target on shares of Valaris from $95.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Barclays cut their target price on shares of Valaris from $61.00 to $59.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Benchmark cut Valaris from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, Susquehanna cut 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 given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $80.00.

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.