Edgestream Partners L.P. Purchases New Stake in Valaris Limited (NYSE:VAL)

Edgestream Partners L.P. purchased a new stake in Valaris Limited (NYSE:VAL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 58,921 shares of the company’s stock, valued at approximately $3,285,000.

Several other hedge funds have also bought and sold shares of VAL. EverSource Wealth Advisors LLC grew 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 purchasing an additional 235 shares during the period. Choreo LLC bought a new position in Valaris during the 2nd quarter valued at $204,000. Evergreen Capital Management LLC bought a new position in Valaris during the 2nd quarter valued at $204,000. Scientech Research LLC bought a new position in Valaris during the 2nd quarter valued at $211,000. Finally, SkyView Investment Advisors LLC bought a new position in Valaris during the 2nd quarter valued at $224,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Insider Activity at Valaris

In other Valaris news, SVP Matthew Lyne sold 26,000 shares of Valaris stock in a transaction dated 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 transaction, the senior vice president now owns 24,388 shares of the company’s stock, valued at $1,360,118.76. The trade was a 51.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Davor Vukadin sold 15,403 shares of Valaris stock in a transaction dated Monday, September 9th. The shares were 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 $755,237.76. The trade was a 53.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,403 shares of company stock worth $4,028,246. Company insiders own 0.12% of the company’s stock.

Valaris Trading Up 1.4 %

Shares of Valaris stock opened at $46.19 on Monday. Valaris Limited has a 52-week low of $45.42 and a 52-week high of $84.20. The stock’s 50-day simple moving average is $51.02 and its 200 day simple moving average is $62.78. The stock has a market capitalization of $3.28 billion, a P/E ratio of 3.17 and a beta of 1.17. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.61.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Barclays dropped their price objective on Valaris from $61.00 to $59.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Susquehanna dropped their price objective on Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Citigroup dropped their price objective on Valaris from $71.00 to $58.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Finally, Benchmark cut Valaris from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Valaris has an average rating of “Hold” and an average price target of $73.40.

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.