15,765 Shares in Valaris Limited (NYSE:VAL) Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new stake in Valaris Limited (NYSE:VAL) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 15,765 shares of the company’s stock, valued at approximately $879,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in shares of 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 during the period. Choreo LLC acquired a new position in Valaris in the second quarter valued at approximately $204,000. Evergreen Capital Management LLC purchased a new stake in Valaris in the 2nd quarter worth approximately $204,000. Scientech Research LLC acquired a new stake in shares of Valaris during the 2nd quarter worth approximately $211,000. Finally, SkyView Investment Advisors LLC purchased a new position in shares of Valaris during the 2nd quarter valued at approximately $224,000. 96.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Valaris

In other news, SVP Matthew Lyne sold 26,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly owns 24,388 shares in the company, valued at $1,360,118.76. This represents a 51.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Gilles Luca sold 30,000 shares of Valaris 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 transaction, the chief operating officer now owns 108,342 shares in the company, 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. In the last 90 days, insiders have sold 71,403 shares of company stock worth $4,028,246. Corporate insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

VAL has been the topic of several analyst reports. Benchmark lowered shares of Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Citigroup dropped their target price on Valaris from $71.00 to $58.00 and set a “buy” rating on the stock in a research report on Wednesday. Susquehanna reduced their price target on Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Finally, Barclays dropped their price objective on Valaris from $61.00 to $59.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Valaris currently has an average rating of “Hold” and a consensus price target of $77.83.

Valaris Stock Performance

NYSE VAL opened at $45.57 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.61. Valaris Limited has a 1-year low of $45.42 and a 1-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. The stock’s 50 day simple moving average is $51.41 and its 200-day simple moving average is $63.28.

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.