Van ECK Associates Corp Decreases Stock Position in Valaris Limited $VAL

Van ECK Associates Corp trimmed its holdings in Valaris Limited (NYSE:VAL) by 11.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 741,905 shares of the company’s stock after selling 96,793 shares during the period. Van ECK Associates Corp owned 1.07% of Valaris worth $36,182,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in VAL. Vestcor Inc purchased a new stake in shares of Valaris in the third quarter valued at about $280,000. Fieldview Capital Management LLC acquired a new position in shares of Valaris during the 3rd quarter worth approximately $330,000. Swiss National Bank raised its position in shares of Valaris by 1.5% during the 3rd quarter. Swiss National Bank now owns 123,900 shares of the company’s stock worth $6,043,000 after purchasing an additional 1,800 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Valaris by 150.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 33,856 shares of the company’s stock valued at $1,651,000 after buying an additional 20,317 shares in the last quarter. Finally, Private Advisor Group LLC lifted its stake in Valaris by 6.3% in the 3rd quarter. Private Advisor Group LLC now owns 6,554 shares of the company’s stock valued at $320,000 after buying an additional 386 shares in the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Valaris Price Performance

Shares of NYSE:VAL opened at $93.30 on Thursday. The business has a fifty day simple moving average of $72.02 and a 200-day simple moving average of $59.49. Valaris Limited has a 52 week low of $27.15 and a 52 week high of $102.19. The company has a market cap of $6.46 billion, a P/E ratio of 6.67 and a beta of 1.07. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.34.

Analysts Set New Price Targets

VAL has been the subject of several recent research reports. Citigroup dropped their price target on Valaris from $62.00 to $58.00 and set a “neutral” rating for the company in a research report on Monday, December 22nd. Zacks Research lowered Valaris from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Pareto Securities cut Valaris from a “hold” rating to a “sell” rating and set a $80.00 price objective for the company. in a research report on Monday, February 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Valaris in a research note on Wednesday, January 21st. Finally, BTIG Research cut shares of Valaris from a “buy” rating to a “hold” rating in a research note on Monday. Ten research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $56.50.

Valaris 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.