Valaris (NYSE:VAL) Reaches New 1-Year Low Following Analyst Downgrade

Valaris Limited (NYSE:VAL)’s stock price reached a new 52-week low during mid-day trading on Monday after Susquehanna lowered their price target on the stock from $62.00 to $61.00. Susquehanna currently has a neutral rating on the stock. Valaris traded as low as $51.68 and last traded at $51.68, with a volume of 185394 shares trading hands. The stock had previously closed at $52.93.

VAL has been the subject of a number of other research reports. 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 research note on Thursday, September 12th. Pickering Energy Partners cut Valaris from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 16th. Benchmark reiterated a “buy” rating and set a $90.00 target price on shares of Valaris in a research note on Monday, August 5th. Finally, Barclays lowered their price objective on Valaris from $98.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Valaris has a consensus rating of “Moderate Buy” and a consensus target price of $86.33.

Insiders Place Their Bets

In other news, SVP Davor Vukadin sold 15,403 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $56.64, for a total transaction of $872,425.92. Following the completion of the sale, the senior vice president now owns 13,334 shares of the company’s stock, valued at approximately $755,237.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Davor Vukadin sold 15,403 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $56.64, for a total transaction of $872,425.92. Following the completion of the transaction, the senior vice president now owns 13,334 shares of the company’s stock, valued at approximately $755,237.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $1,450,020.00. Following the completion of the sale, the senior vice president now directly owns 24,388 shares in the company, valued at $1,360,118.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,403 shares of company stock worth $4,028,246 over the last ninety days. Corporate insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Valaris

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its holdings in shares of 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 in the last quarter. Headlands Technologies LLC bought a new stake in Valaris during the 1st quarter worth $149,000. Choreo LLC acquired a new position in Valaris in the 2nd quarter worth about $204,000. Evergreen Capital Management LLC bought a new position in Valaris in the second quarter valued at about $204,000. Finally, Scientech Research LLC bought a new position in Valaris in the second quarter valued at about $211,000. Institutional investors own 96.74% of the company’s stock.

Valaris Stock Down 2.4 %

The stock has a 50 day moving average price of $58.38 and a 200 day moving average price of $68.14. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 3.82 and a beta of 1.15.

Valaris (NYSE:VAL) last posted its earnings results on Wednesday, July 31st. The company reported $2.03 EPS for the quarter, topping the consensus estimate of $0.96 by $1.07. Valaris had a net margin of 49.33% and a return on equity of 12.58%. The business had revenue of $610.10 million for the quarter, compared to the consensus estimate of $545.00 million. As a group, analysts forecast that Valaris Limited will post 4.37 EPS for the current year.

Valaris Company Profile

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.