NBC Securities Inc. Grows Stock Position in Valaris Limited (NYSE:VAL)

NBC Securities Inc. boosted its stake in shares of Valaris Limited (NYSE:VAL) by 55.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,040 shares of the company’s stock after buying an additional 4,300 shares during the period. NBC Securities Inc.’s holdings in Valaris were worth $671,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in 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 buying an additional 235 shares during the period. Headlands Technologies LLC purchased a new stake in Valaris in the first quarter worth $149,000. Choreo LLC purchased a new stake in Valaris in the second quarter worth $204,000. Evergreen Capital Management LLC purchased a new stake in Valaris in the second quarter worth $204,000. Finally, Scientech Research LLC purchased a new stake in Valaris in the second quarter worth $211,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on VAL shares. Barclays reduced their target price on Valaris from $98.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Pickering Energy Partners lowered Valaris from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 16th. Benchmark lowered Valaris from a “buy” rating to a “hold” rating in a research note on Tuesday. Susquehanna cut their price target on Valaris from $62.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Finally, Citigroup cut their price target on Valaris from $95.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $86.33.

Insider Transactions at Valaris

In other news, SVP Davor Vukadin sold 15,403 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $56.64, for a total transaction of $872,425.92. Following the sale, the senior vice president now owns 13,334 shares in the company, valued at approximately $755,237.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Gilles Luca sold 30,000 shares of the business’s stock in a transaction dated 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Davor Vukadin sold 15,403 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $56.64, for a total value of $872,425.92. Following the sale, the senior vice president now owns 13,334 shares in the company, valued at $755,237.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,403 shares of company stock worth $4,028,246. Insiders own 0.12% of the company’s stock.

Valaris Stock Performance

Shares of Valaris stock opened at $50.51 on Thursday. Valaris Limited has a 12 month low of $49.62 and a 12 month high of $84.20. The stock’s fifty day moving average price is $57.65 and its 200-day moving average price is $67.68. The firm has a market cap of $3.67 billion, a P/E ratio of 3.65 and a beta of 1.15. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.49.

Valaris (NYSE:VAL) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $2.03 earnings per share 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 for the quarter, compared to the consensus estimate of $545.00 million. On average, equities research analysts expect that Valaris Limited will post 4.37 earnings per share for the current fiscal year.

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.