Valaris (NYSE:VAL) Earns “Equal Weight” Rating from Barclays

Valaris (NYSE:VAL)‘s stock had its “equal weight” rating restated by Barclays in a report released on Wednesday, MarketBeat.com reports. They presently have a $49.00 price target on the stock, down from their prior price target of $59.00. Barclays‘s target price would suggest a potential upside of 13.72% from the company’s previous close.

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

Valaris Trading Up 0.5 %

NYSE:VAL opened at $43.09 on Wednesday. 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 company has a market capitalization of $3.06 billion, a P/E ratio of 2.96 and a beta of 1.09. The stock’s 50 day moving average price is $48.38 and its 200 day moving average price is $60.16. Valaris has a 52 week low of $41.13 and a 52 week high of $84.20.

Insider Transactions at Valaris

In related news, SVP Matthew Lyne sold 26,000 shares of Valaris stock in a transaction dated Monday, September 30th. The stock was 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 of the company’s stock, valued at $1,360,118.76. This trade represents a 51.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.12% of the stock is currently owned by corporate insiders.

Institutional Trading of Valaris

Institutional investors have recently modified their holdings of the company. Quarry LP bought a new stake in Valaris in the third quarter valued at about $25,000. Choreo LLC bought a new position in Valaris during the second quarter worth about $204,000. Evergreen Capital Management LLC acquired a new stake in Valaris during the second quarter valued at approximately $204,000. Scientech Research LLC acquired a new position in shares of Valaris in the 2nd quarter worth approximately $211,000. Finally, SkyView Investment Advisors LLC bought a new position in shares of Valaris during the 2nd quarter worth approximately $224,000. Institutional investors and hedge funds 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.