Valaris (NYSE:VAL) Reaches New 1-Year Low – What’s Next?

Valaris Limited (NYSE:VAL) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $45.97 and last traded at $46.00, with a volume of 1111641 shares trading hands. The stock had previously closed at $47.60.

Analysts Set New Price Targets

Several analysts have recently weighed in on VAL shares. Benchmark downgraded Valaris from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Barclays lowered their target price on shares of Valaris from $61.00 to $59.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Susquehanna decreased their price target on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Finally, Citigroup dropped their price objective on shares of Valaris from $71.00 to $58.00 and set a “buy” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $77.83.

Valaris Trading Down 0.9 %

The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 3.13 and a beta of 1.17. The business’s 50 day moving average price is $51.41 and its 200-day moving average price is $63.28. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.61.

Insider Transactions at Valaris

In related news, COO Gilles Luca sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $56.86, for a total value of $1,705,800.00. Following the completion of the transaction, the chief operating officer now directly owns 108,342 shares of the company’s stock, valued at $6,160,326.12. This trade represents a 21.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Matthew Lyne sold 26,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $55.77, for a total value of $1,450,020.00. Following the sale, the senior vice president now owns 24,388 shares in the company, valued at approximately $1,360,118.76. The trade was a 51.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 71,403 shares of company stock valued at $4,028,246. Corporate insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in 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. Quarry LP acquired a new position in shares of Valaris during the 3rd quarter worth approximately $25,000. Evergreen Capital Management LLC purchased a new stake in Valaris in the 2nd quarter valued at approximately $204,000. Choreo LLC acquired a new stake in Valaris during the 2nd quarter valued at $204,000. Finally, Scientech Research LLC purchased a new position in Valaris during the second quarter worth $211,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

About Valaris

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.