Valaris (NYSE:VAL) Given “Equal Weight” Rating at Barclays

Barclays restated their equal weight rating on shares of Valaris (NYSE:VAL) in a research note issued to investors on Wednesday, Marketbeat.com reports. Barclays currently has a $49.00 target price on the stock, down from their prior target price of $59.00.

A number of other brokerages also recently issued reports on VAL. Benchmark downgraded shares of Valaris from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Citigroup lowered shares of Valaris from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $58.00 to $47.00 in a research note on Monday, December 9th. Susquehanna cut their price target on Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. initiated coverage on Valaris in a research report on Friday, December 6th. They set an “underweight” rating and a $40.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Valaris presently has an average rating of “Hold” and an average price target of $64.33.

Valaris Stock Performance

NYSE:VAL traded up $1.03 during trading hours on Wednesday, reaching $42.24. The company had a trading volume of 35,687 shares, compared to its average volume of 1,128,122. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.61. Valaris has a 1-year low of $41.02 and a 1-year high of $84.20. The business’s 50 day moving average price is $48.17 and its 200-day moving average price is $60.03. The firm has a market cap of $3.00 billion, a PE ratio of 2.90 and a beta of 1.09.

Insider Activity at Valaris

In other news, SVP Matthew Lyne sold 26,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were 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 directly owns 24,388 shares of the company’s stock, valued at approximately $1,360,118.76. The trade was a 51.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.12% of the stock is currently owned by insiders.

Institutional Trading of Valaris

Institutional investors have recently added to or reduced their stakes in the stock. Lingotto Investment Management LLP boosted its position in shares of Valaris by 1.2% during the second quarter. Lingotto Investment Management LLP now owns 3,040,610 shares of the company’s stock worth $226,525,000 after buying an additional 36,870 shares during the period. State Street Corp boosted its holdings in Valaris by 4.8% during the 3rd quarter. State Street Corp now owns 2,446,006 shares of the company’s stock valued at $136,365,000 after acquiring an additional 112,216 shares during the period. Marshall Wace LLP grew its position in Valaris by 5.9% in the 2nd quarter. Marshall Wace LLP now owns 1,882,846 shares of the company’s stock valued at $140,272,000 after acquiring an additional 105,330 shares in the last quarter. Geode Capital Management LLC increased its stake in Valaris by 4.6% during the third quarter. Geode Capital Management LLC now owns 1,519,644 shares of the company’s stock worth $84,736,000 after purchasing an additional 66,229 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Valaris by 23.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company’s stock worth $88,573,000 after purchasing an additional 225,283 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

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.