Anthracite Investment Company Inc. Decreases Stock Position in Valaris Limited (NYSE:VAL)

Anthracite Investment Company Inc. trimmed its stake in shares of Valaris Limited (NYSE:VAL) by 41.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,700 shares of the company’s stock after selling 23,381 shares during the quarter. Anthracite Investment Company Inc.’s holdings in Valaris were worth $1,823,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its holdings in shares of Valaris by 180.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $27,000 after acquiring an additional 235 shares during the last quarter. Evergreen Capital Management LLC purchased a new position in Valaris in the second quarter valued at approximately $204,000. Choreo LLC acquired a new stake in Valaris during the second quarter worth approximately $204,000. Scientech Research LLC purchased a new stake in shares of Valaris during the 2nd quarter worth approximately $211,000. Finally, SkyView Investment Advisors LLC acquired a new stake in Valaris during the 2nd quarter worth $224,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Valaris Stock Performance

NYSE VAL opened at $46.41 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.51. Valaris Limited has a 12-month low of $46.03 and a 12-month high of $84.20. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of 3.19 and a beta of 1.17. The business’s 50 day moving average is $52.36 and its two-hundred day moving average is $64.29.

Analyst Upgrades and Downgrades

VAL has been the topic of a number of research analyst reports. Citigroup cut their target price on Valaris from $95.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Benchmark cut shares of Valaris from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Barclays reduced their price objective on Valaris from $61.00 to $59.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, Susquehanna decreased their price objective on Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $80.00.

Insiders Place Their Bets

In related news, SVP Davor Vukadin sold 15,403 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $56.64, for a total transaction of $872,425.92. Following the sale, the senior vice president now owns 13,334 shares of the company’s stock, valued at approximately $755,237.76. The trade was a 53.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Gilles Luca sold 30,000 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $56.86, for a total transaction of $1,705,800.00. Following the transaction, the chief operating officer now owns 108,342 shares in the company, valued at $6,160,326.12. The trade was a 21.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,403 shares of company stock worth $4,028,246. 0.12% of the stock is owned by corporate insiders.

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.