Valaris (NYSE:VAL) Reaches New 1-Year Low After Analyst Downgrade

Valaris Limited (NYSE:VAL) shares reached a new 52-week low during trading on Wednesday after Barclays lowered their price target on the stock from $91.00 to $61.00. Barclays currently has an overweight rating on the stock. Valaris traded as low as $49.16 and last traded at $49.21, with a volume of 40122 shares traded. The stock had previously closed at $50.35.

Several other research analysts have also issued reports on VAL. Benchmark lowered shares of Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Citigroup reduced their target price on Valaris from $95.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Susquehanna dropped their price target on Valaris from $62.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Finally, Pickering Energy Partners lowered shares of Valaris from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 16th. 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 stock. According to MarketBeat.com, Valaris has an average rating of “Hold” and an average price target of $81.33.

Insider Buying and Selling at Valaris

In other news, SVP Davor Vukadin sold 15,403 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $56.64, for a total value of $872,425.92. Following the transaction, the senior vice president now directly owns 13,334 shares of the company’s stock, valued at approximately $755,237.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Matthew Lyne sold 26,000 shares of Valaris stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $55.77, for a total transaction of $1,450,020.00. Following the sale, the senior vice president now directly owns 24,388 shares in the company, valued at approximately $1,360,118.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Davor Vukadin sold 15,403 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $56.64, for a total value of $872,425.92. Following the completion of the sale, the senior vice president now owns 13,334 shares in the company, valued at $755,237.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,403 shares of company stock valued at $4,028,246 in the last quarter. Company insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Valaris

Several institutional investors have recently added to or reduced their stakes in VAL. Lingotto Investment Management LLP increased its position in Valaris by 1.2% in the 2nd quarter. Lingotto Investment Management LLP now owns 3,040,610 shares of the company’s stock valued at $226,525,000 after acquiring an additional 36,870 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Valaris by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 1,893,667 shares of the company’s stock worth $129,849,000 after buying an additional 77,490 shares during the period. Marshall Wace LLP raised its stake in shares of Valaris by 5.9% during the second quarter. Marshall Wace LLP now owns 1,882,846 shares of the company’s stock worth $140,272,000 after buying an additional 105,330 shares during the last quarter. Condire Management LP lifted its holdings in Valaris by 14.7% in the first quarter. Condire Management LP now owns 1,452,097 shares of the company’s stock valued at $109,285,000 after buying an additional 186,076 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Valaris by 23.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company’s stock valued at $88,573,000 after acquiring an additional 225,283 shares during the last quarter. 96.74% of the stock is owned by institutional investors.

Valaris Stock Performance

The stock has a market cap of $3.58 billion, a P/E ratio of 4.38 and a beta of 1.15. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.49. The stock has a fifty day simple moving average of $56.83 and a 200-day simple moving average of $67.14.

Valaris (NYSE:VAL) last released its quarterly earnings results on Wednesday, July 31st. The company reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $1.07. Valaris had a return on equity of 12.58% and a net margin of 49.33%. The firm had revenue of $610.10 million during the quarter, compared to the consensus estimate of $545.00 million. Equities analysts expect that Valaris Limited will post 4.37 earnings per share for the current fiscal year.

Valaris Company 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.