DnB Asset Management AS cut its holdings in Valaris Limited (NYSE:VAL – Get Rating) by 3.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 196,765 shares of the company’s stock after selling 6,379 shares during the period. DnB Asset Management AS’s holdings in Valaris were worth $8,311,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of VAL. Seven Eight Capital LP purchased a new position in shares of Valaris during the first quarter worth about $324,000. Swiss National Bank grew its holdings in shares of Valaris by 7.4% during the first quarter. Swiss National Bank now owns 62,100 shares of the company’s stock worth $3,227,000 after purchasing an additional 4,300 shares during the last quarter. Exor Capital LLP grew its holdings in shares of Valaris by 5.0% during the first quarter. Exor Capital LLP now owns 2,085,636 shares of the company’s stock worth $108,391,000 after buying an additional 98,987 shares during the last quarter. Pecaut & CO. purchased a new position in shares of Valaris during the first quarter worth about $260,000. Finally, Trek Financial LLC purchased a new position in shares of Valaris during the first quarter worth about $1,135,000. 84.93% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Valaris
In other Valaris news, VP Colleen Grable sold 3,109 shares of Valaris stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $47.57, for a total value of $147,895.13. Following the sale, the vice president now owns 15,869 shares of the company’s stock, valued at approximately $754,888.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is owned by corporate insiders.
Valaris Trading Down 8.4 %
Wall Street Analyst Weigh In
Separately, BTIG Research raised their price target on Valaris from $60.00 to $80.00 in a report on Wednesday, June 1st.
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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