Centiva Capital LP Takes $930,000 Position in Valaris Limited (NYSE:VAL)

Centiva Capital LP bought a new position in Valaris Limited (NYSE:VAL) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 16,682 shares of the company’s stock, valued at approximately $930,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in shares of Valaris by 180.8% during 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. U.S. Capital Wealth Advisors LLC raised its holdings in Valaris by 41.2% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 17,260 shares of the company’s stock valued at $1,286,000 after acquiring an additional 5,035 shares during the period. SG Americas Securities LLC lifted its position in shares of Valaris by 112.6% in the second quarter. SG Americas Securities LLC now owns 35,885 shares of the company’s stock valued at $2,673,000 after acquiring an additional 19,004 shares in the last quarter. Diversify Advisory Services LLC boosted its stake in shares of Valaris by 1.1% in the second quarter. Diversify Advisory Services LLC now owns 119,882 shares of the company’s stock worth $8,683,000 after acquiring an additional 1,303 shares during the period. Finally, Fermata Advisors LLC purchased a new stake in shares of Valaris during the second quarter worth about $237,000. Institutional investors own 96.74% of the company’s stock.

Valaris Price Performance

VAL stock opened at $44.87 on Friday. The company has a fifty day simple moving average of $50.25 and a two-hundred day simple moving average of $62.11. Valaris Limited has a 52 week low of $44.53 and a 52 week high of $84.20. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $3.19 billion, a P/E ratio of 3.08 and a beta of 1.09.

Insider Activity at Valaris

In related news, COO Gilles Luca sold 30,000 shares of the stock in a transaction 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 owns 108,342 shares in the company, valued at approximately $6,160,326.12. This represents a 21.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Matthew Lyne sold 26,000 shares of the firm’s stock in a transaction 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 owns 24,388 shares of the company’s stock, valued at approximately $1,360,118.76. This represents a 51.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,403 shares of company stock valued at $4,028,246. Insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on VAL shares. Barclays dropped their price target on Valaris from $61.00 to $59.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Citigroup cut their target price on shares of Valaris from $71.00 to $58.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Benchmark downgraded shares of Valaris from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, Susquehanna reduced their target price on Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. One 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 company’s stock. According to data from MarketBeat, Valaris has a consensus rating of “Hold” and an average target price 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.