Valaris (NYSE:VAL) Hits New 12-Month Low – Should You Sell?

Valaris Limited (NYSE:VAL)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $45.38 and last traded at $45.73, with a volume of 115607 shares trading hands. The stock had previously closed at $46.49.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on VAL shares. JPMorgan Chase & Co. assumed coverage on shares of Valaris in a research report on Friday. They set an “underweight” rating and a $40.00 price target for the company. Benchmark downgraded shares of Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Citigroup dropped their target price on shares of Valaris from $71.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Susquehanna decreased their target price 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, Barclays dropped their price target on Valaris from $61.00 to $59.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $67.83.

Valaris Stock Performance

The firm has a market cap of $3.19 billion, a PE ratio of 3.08 and a beta of 1.09. The firm’s 50 day simple moving average is $50.25 and its 200 day simple moving average is $62.11. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.51.

Insider Buying and Selling

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 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. This represents a 51.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Gilles Luca sold 30,000 shares of Valaris stock in a transaction dated 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 owns 108,342 shares of the company’s stock, valued at approximately $6,160,326.12. This represents a 21.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,403 shares of company stock worth $4,028,246. Corporate insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Valaris

Several large investors have recently modified their holdings of the stock. Arizona State Retirement System raised its position in Valaris by 1.2% in the 2nd quarter. Arizona State Retirement System now owns 18,244 shares of the company’s stock worth $1,359,000 after purchasing an additional 214 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Valaris by 180.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $27,000 after acquiring an additional 235 shares during the last quarter. World Equity Group Inc. boosted its holdings in Valaris by 1.9% during the 2nd quarter. World Equity Group Inc. now owns 12,827 shares of the company’s stock valued at $956,000 after acquiring an additional 238 shares during the period. Victory Capital Management Inc. grew its position in Valaris by 5.0% in the 2nd quarter. Victory Capital Management Inc. now owns 5,080 shares of the company’s stock valued at $378,000 after acquiring an additional 243 shares during the last quarter. Finally, Deane Retirement Strategies Inc. grew its position in Valaris by 0.6% in the 3rd quarter. Deane Retirement Strategies Inc. now owns 40,504 shares of the company’s stock valued at $2,259,000 after acquiring an additional 251 shares during the last quarter. Institutional investors 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.