Van ECK Associates Corp Cuts Stock Holdings in Valaris Limited $VAL

Van ECK Associates Corp lessened its stake in Valaris Limited (NYSE:VAL) by 11.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 741,905 shares of the company’s stock after selling 96,793 shares during the quarter. Van ECK Associates Corp’s holdings in Valaris were worth $36,182,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in VAL. ANTIPODES PARTNERS Ltd grew its holdings in shares of Valaris by 8,034.0% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 580,198 shares of the company’s stock worth $28,298,000 after purchasing an additional 573,065 shares during the period. Trek Financial LLC acquired a new position in Valaris during the third quarter valued at approximately $3,305,000. Hara Capital LLC lifted its position in Valaris by 29.1% during the second quarter. Hara Capital LLC now owns 173,382 shares of the company’s stock valued at $7,301,000 after buying an additional 39,055 shares in the last quarter. Third Avenue Management LLC grew its stake in Valaris by 2.8% during the second quarter. Third Avenue Management LLC now owns 585,921 shares of the company’s stock worth $24,673,000 after buying an additional 16,082 shares during the period. Finally, Norges Bank purchased a new position in Valaris in the 2nd quarter worth approximately $17,748,000. 96.74% of the stock is owned by hedge funds and other institutional investors.

Valaris Stock Performance

VAL stock opened at $93.30 on Thursday. Valaris Limited has a 1 year low of $27.15 and a 1 year high of $102.19. The stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of 6.67 and a beta of 1.07. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.77 and a current ratio of 1.77. The stock’s fifty day moving average is $72.02 and its two-hundred day moving average is $59.49.

Analysts Set New Price Targets

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