Loomis Sayles & Co. L P Decreases Stock Position in Valaris Limited (NYSE:VAL)

Loomis Sayles & Co. L P cut its holdings in Valaris Limited (NYSE:VAL) by 16.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 171,575 shares of the company’s stock after selling 33,049 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Valaris were worth $9,565,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC boosted 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 worth $27,000 after buying an additional 235 shares in the last quarter. Choreo LLC purchased a new stake in shares of Valaris in the 2nd quarter worth about $204,000. Evergreen Capital Management LLC purchased a new stake in shares of Valaris in the 2nd quarter worth about $204,000. Scientech Research LLC purchased a new position in Valaris in the 2nd quarter valued at about $211,000. Finally, SkyView Investment Advisors LLC purchased a new position in Valaris in the 2nd quarter valued at about $224,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on VAL shares. Citigroup reduced their target price on shares of Valaris from $71.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday. Barclays reduced their target price on shares of Valaris from $61.00 to $59.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Susquehanna reduced their target price on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, Benchmark lowered shares of Valaris from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. 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’s stock. According to MarketBeat.com, Valaris currently has an average rating of “Hold” and a consensus price target of $77.83.

Insider Transactions at Valaris

In related news, SVP Davor Vukadin sold 15,403 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $56.64, for a total transaction of $872,425.92. Following the completion of the sale, the senior vice president now owns 13,334 shares of the company’s stock, valued at approximately $755,237.76. This represents a 53.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Gilles Luca sold 30,000 shares of the stock in a transaction that occurred 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 sale, 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 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 worth $4,028,246 in the last three months. Company insiders own 0.12% of the company’s stock.

Valaris Trading Down 0.9 %

Shares of VAL stock opened at $45.57 on Thursday. The firm has a market cap of $3.24 billion, a P/E ratio of 3.13 and a beta of 1.17. Valaris Limited has a 1-year low of $45.42 and a 1-year high of $84.20. 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 firm’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.