Rye Brook Capital LLC Takes Position in Valaris Limited (NYSE:VAL)

Rye Brook Capital LLC purchased a new position in shares of Valaris Limited (NYSE:VAL) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 45,200 shares of the company’s stock, valued at approximately $2,520,000. Valaris makes up approximately 3.6% of Rye Brook Capital LLC’s portfolio, making the stock its 12th biggest position.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Private Advisor Group LLC grew its position in shares of Valaris by 22.5% in the third quarter. Private Advisor Group LLC now owns 5,524 shares of the company’s stock valued at $308,000 after purchasing an additional 1,015 shares during the last quarter. Stanley Laman Group Ltd. increased its position in Valaris by 18.3% during the 3rd quarter. Stanley Laman Group Ltd. now owns 69,202 shares of the company’s stock worth $3,858,000 after purchasing an additional 10,713 shares in the last quarter. Venture Visionary Partners LLC acquired a new position in Valaris in the 3rd quarter valued at about $1,536,000. nVerses Capital LLC lifted its holdings in Valaris by 47.5% in the 3rd quarter. nVerses Capital LLC now owns 5,900 shares of the company’s stock valued at $329,000 after purchasing an additional 1,900 shares in the last quarter. Finally, NBC Securities Inc. boosted its stake in shares of Valaris by 55.6% during the 3rd quarter. NBC Securities Inc. now owns 12,040 shares of the company’s stock worth $671,000 after purchasing an additional 4,300 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Analyst Ratings Changes

VAL has been the subject of several analyst reports. Pickering Energy Partners lowered Valaris from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 16th. Susquehanna lowered their target price on shares of Valaris from $62.00 to $61.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Barclays cut their price target on shares of Valaris from $91.00 to $61.00 and set an “overweight” rating on the stock in a research note on Wednesday. Benchmark downgraded Valaris from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, Citigroup decreased their price target on Valaris from $95.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Valaris presently has a consensus rating of “Hold” and a consensus target price of $81.33.

Insider Activity

In other Valaris news, COO Gilles Luca sold 30,000 shares of the business’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 sale, the chief operating officer now directly owns 108,342 shares in the company, valued at approximately $6,160,326.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Matthew Lyne sold 26,000 shares of Valaris stock in a transaction that occurred on Monday, September 30th. The shares were 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 of the company’s stock, valued at $1,360,118.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Gilles Luca sold 30,000 shares of the stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 108,342 shares of the company’s stock, valued at approximately $6,160,326.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,403 shares of company stock valued at $4,028,246. Company insiders own 0.12% of the company’s stock.

Valaris Stock Down 2.3 %

NYSE:VAL traded down $1.14 during mid-day trading on Wednesday, reaching $49.21. The stock had a trading volume of 40,122 shares, compared to its average volume of 1,008,577. The stock’s 50 day simple moving average is $56.83 and its two-hundred day simple moving average is $67.14. Valaris Limited has a 1-year low of $49.16 and a 1-year high of $84.20. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 4.38 and a beta of 1.15. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.73 and a quick ratio of 1.73.

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

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.