New York State Teachers Retirement System grew its holdings in Valaris Limited (NYSE:VAL – Free Report) by 89.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,200 shares of the company’s stock after purchasing an additional 8,100 shares during the quarter. New York State Teachers Retirement System’s holdings in Valaris were worth $1,082,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in VAL. Fortis Capital Advisors LLC acquired a new position in shares of Valaris during the first quarter valued at $26,000. Belpointe Asset Management LLC acquired a new position in shares of Valaris during the first quarter valued at $27,000. Spartan Fund Management Inc. lifted its stake in shares of Valaris by 117,696.2% during the second quarter. Spartan Fund Management Inc. now owns 588,981 shares of the company’s stock valued at $31,000 after acquiring an additional 588,481 shares during the period. PNC Financial Services Group Inc. acquired a new position in shares of Valaris during the first quarter valued at $52,000. Finally, Trivant Custom Portfolio Group LLC acquired a new position in shares of Valaris during the first quarter valued at $59,000. Institutional investors own 89.57% of the company’s stock.
Valaris Stock Up 0.2 %
Shares of Valaris stock opened at $68.22 on Wednesday. Valaris Limited has a 1 year low of $54.13 and a 1 year high of $80.00. The business has a 50-day moving average of $73.42 and a two-hundred day moving average of $67.48. The company has a market capitalization of $5.05 billion, a P/E ratio of 43.18 and a beta of 1.28. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.20 and a quick ratio of 2.20.
Wall Street Analysts Forecast Growth
VAL has been the topic of several analyst reports. Citigroup cut their target price on Valaris from $113.00 to $103.00 and set a “buy” rating on the stock in a research note on Tuesday, October 10th. TheStreet lowered Valaris from a “b-” rating to a “c” rating in a research note on Wednesday, August 2nd. Finally, Barclays increased their target price on Valaris from $80.00 to $84.00 and gave the company an “equal weight” rating in a research note on Monday, August 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $93.00.
View Our Latest Analysis on VAL
Insiders Place Their Bets
In related news, VP Colleen Grable sold 5,034 shares of the stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $75.00, for a total transaction of $377,550.00. Following the completion of the transaction, the vice president now directly owns 15,074 shares in the company, valued at $1,130,550. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Colleen Grable sold 5,034 shares of the stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $75.00, for a total transaction of $377,550.00. Following the completion of the transaction, the vice president now directly owns 15,074 shares in the company, valued at $1,130,550. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Hill Advisors Lp Oak sold 4,200,000 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $73.10, for a total value of $307,020,000.00. Following the transaction, the insider now owns 4,766,016 shares of the company’s stock, valued at $348,395,769.60. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.
Valaris Company Profile
Valaris Limited provides offshore contract drilling services to the international oil and gas industry. The company owns an offshore drilling rig fleet, which include drillships, dynamically positioned semisubmersible rigs, moored semisubmersible rig, and jackup rigs. It serves international, government-owned, and independent oil and gas companies in the Gulf of Mexico, South America, the North Sea, the Middle East, Africa, and Asia Pacific.
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