SeaCrest Wealth Management LLC Has $415,000 Stake in Valaris Limited (NYSE:VAL)

SeaCrest Wealth Management LLC lowered its holdings in shares of Valaris Limited (NYSE:VAL) by 39.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,372 shares of the company’s stock after selling 6,173 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Valaris were worth $415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Valaris during the 2nd quarter valued at about $28,884,000. Dimensional Fund Advisors LP boosted its holdings in Valaris by 23.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company’s stock valued at $88,573,000 after purchasing an additional 225,283 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Valaris by 338.5% during the second quarter. AQR Capital Management LLC now owns 236,379 shares of the company’s stock valued at $17,426,000 after purchasing an additional 182,467 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Valaris in the 2nd quarter valued at approximately $13,306,000. Finally, Herr Investment Group LLC raised its holdings in shares of Valaris by 123.3% in the 2nd quarter. Herr Investment Group LLC now owns 235,822 shares of the company’s stock worth $17,569,000 after buying an additional 130,236 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on VAL. Susquehanna decreased their price target on Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Benchmark downgraded shares of Valaris from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Citigroup cut shares of Valaris from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $58.00 to $47.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. initiated coverage on shares of Valaris in a research report on Friday, December 6th. They issued an “underweight” rating and a $40.00 price target on the stock. Finally, Evercore ISI lowered shares of Valaris from an “outperform” rating to an “in-line” rating and dropped their price objective for the stock from $87.00 to $59.00 in a report on Wednesday. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.67.

Valaris Price Performance

Shares of VAL stock opened at $48.50 on Friday. Valaris Limited has a 1 year low of $39.90 and a 1 year high of $84.20. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.51. The firm’s 50 day moving average is $45.54 and its 200-day moving average is $55.95. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 3.33 and a beta of 1.10.

Valaris Profile

Valaris Limited, together with its subsidiaries, provides offshore contract drilling services Gulf of Mexico, South America, North Sea, the Middle East, Africa, and the Asia Pacific. The company operates through four segments: Floaters, Jackups, ARO, and Other. It owns an offshore drilling rig fleet, which include drillships, dynamically positioned semisubmersible rigs, moored semisubmersible rig, and jackup rigs.