Valaris (NYSE:VAL) Hits New 1-Year Low – Here’s What Happened

Valaris Limited (NYSE:VAL) shares reached a new 52-week low on Monday . The company traded as low as $47.87 and last traded at $47.91, with a volume of 325018 shares traded. The stock had previously closed at $48.51.

Analyst Upgrades and Downgrades

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

Valaris Stock Down 0.4 %

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.61. The company has a 50-day simple moving average of $52.68 and a 200-day simple moving average of $64.56. The firm has a market cap of $3.44 billion, a PE ratio of 3.33 and a beta of 1.17.

Insider Transactions at Valaris

In related news, COO Gilles Luca sold 30,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $56.86, for a total value of $1,705,800.00. Following the completion of the sale, the chief operating officer now directly owns 108,342 shares of the company’s stock, valued at $6,160,326.12. This represents a 21.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Matthew Lyne sold 26,000 shares of the firm’s 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 transaction, the senior vice president now directly owns 24,388 shares in the company, valued at $1,360,118.76. This trade represents a 51.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,403 shares of company stock worth $4,028,246. Insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Valaris

A number of hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its holdings in Valaris by 180.8% during the first quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $27,000 after buying an additional 235 shares during the period. Quarry LP bought a new position in shares of Valaris in the 3rd quarter worth $25,000. Evergreen Capital Management LLC purchased a new stake in shares of Valaris during the 2nd quarter worth $204,000. Choreo LLC bought a new stake in Valaris during the second quarter valued at about $204,000. Finally, Scientech Research LLC purchased a new position in Valaris in the second quarter valued at about $211,000. 96.74% of the stock is currently owned by institutional investors.

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.