Valaris Limited (NYSE:VAL) Given Average Rating of “Hold” by Brokerages

Valaris Limited (NYSE:VAL) has earned a consensus rating of “Hold” from the seven research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $66.00.

VAL has been the subject of several recent research reports. Barclays dropped their price objective on shares of Valaris from $61.00 to $59.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Benchmark lowered Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. assumed coverage on Valaris in a research report on Friday, December 6th. They issued an “underweight” rating and a $40.00 target price for the company. Susquehanna dropped their target price on Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, Citigroup cut Valaris from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $58.00 to $47.00 in a report on Monday, December 9th.

Insider Activity

In other news, SVP Matthew Lyne sold 26,000 shares of the company’s stock in a transaction dated 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 owns 24,388 shares in the company, valued at approximately $1,360,118.76. This represents a 51.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.12% of the company’s stock.

Institutional Trading of Valaris

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC increased its holdings in shares of Valaris by 112.6% in the 2nd quarter. SG Americas Securities LLC now owns 35,885 shares of the company’s stock valued at $2,673,000 after acquiring an additional 19,004 shares during the last quarter. Fermata Advisors LLC acquired a new stake in shares of Valaris during the second quarter worth $237,000. World Equity Group Inc. lifted its position in shares of Valaris by 1.9% in the 2nd quarter. World Equity Group Inc. now owns 12,827 shares of the company’s stock worth $956,000 after buying an additional 238 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Valaris by 5.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 586,228 shares of the company’s stock worth $43,674,000 after buying an additional 29,128 shares during the last quarter. Finally, Meixler Investment Management Ltd. boosted its holdings in shares of Valaris by 2.6% in the 2nd quarter. Meixler Investment Management Ltd. now owns 34,044 shares of the company’s stock valued at $2,536,000 after buying an additional 853 shares during the period. 96.74% of the stock is owned by institutional investors.

Valaris Stock Down 1.3 %

Shares of NYSE:VAL opened at $43.57 on Friday. Valaris has a 1 year low of $41.66 and a 1 year high of $84.20. The stock has a 50-day simple moving average of $48.87 and a 200-day simple moving average of $60.83. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.61. The stock has a market capitalization of $3.10 billion, a P/E ratio of 2.99 and a beta of 1.09.

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.