Valaris (NYSE:VAL) Shares Break Below Two Hundred Day Moving Average – Time to Sell?

Valaris Limited (NYSE:VAL)’s share price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $86.19 and traded as low as $82.14. Valaris shares last traded at $82.9720, with a volume of 1,273,088 shares changing hands.

Analyst Ratings Changes

A number of research firms recently weighed in on VAL. Weiss Ratings upgraded Valaris from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 17th. Susquehanna lifted their price objective on Valaris from $86.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Wall Street Zen cut Valaris from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $76.33.

Valaris Stock Performance

The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 7.28 and a beta of 1.03. The company has a quick ratio of 1.55, a current ratio of 1.64 and a debt-to-equity ratio of 0.33. The company has a 50 day moving average of $86.72 and a 200 day moving average of $86.19.

Valaris (NYSE:VAL) last released its earnings results on Monday, November 2nd. The company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.40). Valaris had a return on equity of 4.23% and a net margin of 37.35%. The firm had revenue of $593.60 million for the quarter, compared to the consensus estimate of $562.70 million. During the same period in the prior year, the business earned $2.65 EPS. The company’s quarterly revenue was down .4% on a year-over-year basis. As a group, equities research analysts expect that Valaris Limited will post 3.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. HBK Investments L P acquired a new stake in shares of Valaris in the 2nd quarter worth about $114,355,000. Whitebox Advisors LLC acquired a new position in Valaris during the 1st quarter valued at about $57,249,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Valaris by 67.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,363,230 shares of the company’s stock valued at $133,651,000 after purchasing an additional 550,987 shares during the period. Goehring & Rozencwajg Associates LLC boosted its stake in Valaris by 24.2% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,319,351 shares of the company’s stock valued at $129,349,000 after purchasing an additional 257,281 shares during the period. Finally, Sei Investments Co. grew its position in Valaris by 66.2% in the 1st quarter. Sei Investments Co. now owns 399,805 shares of the company’s stock worth $39,197,000 after purchasing an additional 159,304 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.

Valaris Company Profile

Valaris plc is an offshore contract drilling company that provides drilling services to oil and gas operators worldwide. The company works with customers to support offshore exploration, appraisal and development programs in shallow-water and deepwater environments.

Valaris operates a fleet that includes drillships, semisubmersible rigs and jackup rigs. Its services include mobile offshore drilling, well construction support and related rig-management and operational services. The company’s fleet is designed to serve a range of offshore projects, from conventional shelf developments to technically demanding deepwater wells.

With operations spanning major offshore energy regions, Valaris has served customers in areas including the Gulf of Mexico, the North Sea, Brazil, West Africa, the Middle East and the Asia-Pacific region.