Raffles Associates LP Acquires Shares of 10,000 Valaris Limited (NYSE:VAL)

Raffles Associates LP acquired a new stake in shares of Valaris Limited (NYSE:VAL) in the third quarter, HoldingsChannel reports. The firm acquired 10,000 shares of the company’s stock, valued at approximately $558,000.

Several other large investors have also recently made changes to their positions in VAL. EverSource Wealth Advisors LLC increased its stake in 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 acquiring an additional 235 shares during the last quarter. Choreo LLC bought a new stake in Valaris in the second quarter worth $204,000. Evergreen Capital Management LLC purchased a new stake in Valaris during the second quarter valued at $204,000. Scientech Research LLC purchased a new stake in Valaris during the second quarter valued at $211,000. Finally, SkyView Investment Advisors LLC bought a new position in Valaris during the second quarter valued at $224,000. 96.74% of the stock is owned by institutional investors.

Valaris Price Performance

Shares of VAL stock opened at $46.20 on Friday. The stock has a 50 day moving average price of $51.02 and a 200 day moving average price of $62.96. Valaris Limited has a 52-week low of $45.42 and a 52-week high of $84.20. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market capitalization of $3.29 billion, a P/E ratio of 3.17 and a beta of 1.17.

Analyst Upgrades and Downgrades

Several research firms recently commented on VAL. Citigroup dropped their price target on Valaris from $71.00 to $58.00 and set a “buy” rating for the company in a research report on Wednesday. Barclays decreased their price target on Valaris from $61.00 to $59.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Susquehanna lowered their price target on Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Finally, Benchmark cut shares of Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $73.40.

Insiders Place Their Bets

In other Valaris news, SVP Matthew Lyne sold 26,000 shares of the company’s stock in a transaction dated 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 directly owns 24,388 shares in the company, valued at $1,360,118.76. This represents a 51.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Davor Vukadin sold 15,403 shares of Valaris 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 sale, the senior vice president now directly owns 13,334 shares of the company’s stock, valued at $755,237.76. This represents a 53.60 % 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 over the last quarter. Company insiders own 0.12% of the company’s stock.

Valaris Company 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.