First Trust Advisors LP increased its stake in shares of Valaris Limited (NYSE:VAL – Get Rating) by 3.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 94,045 shares of the company’s stock after buying an additional 3,153 shares during the period. First Trust Advisors LP owned 0.13% of Valaris worth $6,359,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of VAL. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Valaris during the 3rd quarter worth about $29,000. PNC Financial Services Group Inc. acquired a new stake in Valaris in the 1st quarter worth about $52,000. Nisa Investment Advisors LLC raised its stake in Valaris by 80.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 995 shares of the company’s stock worth $66,000 after purchasing an additional 445 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Valaris by 49.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,375 shares of the company’s stock worth $67,000 after purchasing an additional 452 shares in the last quarter. Finally, Castleview Partners LLC acquired a new stake in Valaris in the 4th quarter worth about $71,000. Institutional investors own 82.55% of the company’s stock.
Analyst Ratings Changes
Several analysts have weighed in on VAL shares. StockNews.com started coverage on shares of Valaris in a research note on Thursday, May 18th. They issued a “sell” rating for the company. TheStreet upgraded shares of Valaris from a “c” rating to a “b-” rating in a research note on Monday, May 1st. Finally, Barclays dropped their price objective on shares of Valaris from $82.00 to $80.00 in a research note on Friday, May 5th.
Valaris Price Performance
Insider Activity
In other news, major shareholder Hill Advisors Lp Oak sold 158,632 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $76.39, for a total value of $12,117,898.48. Following the completion of the transaction, the insider now directly owns 9,254,190 shares in the company, valued at approximately $706,927,574.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.11% of the company’s stock.
Valaris Profile
Valaris Limited provides offshore contract drilling services to the international oil and gas industry. The company owns an offshore drilling rig fleet of 56 rigs, which include 11 drillships, 4 dynamically positioned semisubmersible rigs, 1 moored semisubmersible rig, and 40 jackup rigs. It serves international, government-owned, and independent oil and gas companies in the Gulf of Mexico, the North Sea, the Middle East, West Africa, Australia, and Southeast Asia.
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