Envestnet Asset Management Inc. Acquires 5,475 Shares of Valaris Limited $VAL

Envestnet Asset Management Inc. raised its holdings in Valaris Limited (NYSE:VAL) by 17.3% during the third quarter, HoldingsChannel.com reports. The fund owned 37,180 shares of the company’s stock after purchasing an additional 5,475 shares during the period. Envestnet Asset Management Inc.’s holdings in Valaris were worth $1,813,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Trek Financial LLC bought a new position in Valaris in the 3rd quarter valued at approximately $3,305,000. Hara Capital LLC increased its holdings in shares of Valaris by 29.1% during the second quarter. Hara Capital LLC now owns 173,382 shares of the company’s stock worth $7,301,000 after buying an additional 39,055 shares in the last quarter. Third Avenue Management LLC lifted its stake in shares of Valaris by 2.8% in the 2nd quarter. Third Avenue Management LLC now owns 585,921 shares of the company’s stock valued at $24,673,000 after acquiring an additional 16,082 shares during the last quarter. Norges Bank acquired a new stake in shares of Valaris during the 2nd quarter valued at $17,748,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Valaris by 139.7% during the 2nd quarter. SG Americas Securities LLC now owns 25,183 shares of the company’s stock valued at $1,060,000 after acquiring an additional 14,676 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Valaris Stock Up 1.5%

Shares of NYSE VAL opened at $95.96 on Friday. The company’s 50 day moving average price is $65.39 and its 200-day moving average price is $56.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.87 and a current ratio of 1.77. Valaris Limited has a 52-week low of $27.15 and a 52-week high of $102.19. The company has a market capitalization of $6.64 billion, a P/E ratio of 6.86 and a beta of 1.18.

Analysts Set New Price Targets

Several equities analysts have commented on VAL shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Valaris in a research report on Wednesday, January 21st. Pareto Securities lowered shares of Valaris from a “hold” rating to a “sell” rating and set a $80.00 price objective for the company. in a report on Monday, February 23rd. Citigroup cut their target price on shares of Valaris from $62.00 to $58.00 and set a “neutral” rating on the stock in a research report on Monday, December 22nd. Barclays upped their price target on shares of Valaris from $43.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Finally, Zacks Research cut shares of Valaris from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $56.50.

Valaris Company Profile

Valaris PLC is a leading provider of offshore drilling services to the global energy industry. The company operates a diverse fleet of mobile offshore drilling units, including drillships, semisubmersibles and jackup rigs, designed to support exploration and production activities in deepwater, ultra-deepwater and harsh‐environment settings. Valaris serves a wide range of international oil and gas customers, offering turnkey drilling solutions, project management and advanced technology integration to enhance operational efficiency and safety.

Headquartered in Houston, Texas, Valaris maintains a significant presence in key offshore basins around the world.