Insider Selling: Valaris Limited (NYSE:VAL) SVP Sells 26,000 Shares of Stock

Valaris Limited (NYSE:VAL) SVP Matthew Lyne sold 26,000 shares of the business’s 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 completion of the transaction, the senior vice president now directly owns 24,388 shares in the company, valued at $1,360,118.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Valaris Price Performance

Shares of NYSE VAL traded down $0.30 during trading hours on Monday, reaching $55.76. 1,460,132 shares of the stock traded hands, compared to its average volume of 999,933. The company has a market capitalization of $4.06 billion, a P/E ratio of 4.93 and a beta of 1.17. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.49. Valaris Limited has a 52-week low of $53.06 and a 52-week high of $84.20. The company’s 50-day simple moving average is $62.84 and its two-hundred day simple moving average is $69.40.

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

Institutional Investors Weigh In On Valaris

A number of large investors have recently made changes to their positions in VAL. Lingotto Investment Management LLP grew its position in shares of Valaris by 3.6% in the 4th quarter. Lingotto Investment Management LLP now owns 3,003,740 shares of the company’s stock worth $205,966,000 after buying an additional 104,000 shares during the last quarter. Goehring & Rozencwajg Associates LLC grew its position in shares of Valaris by 3.4% in the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 44,238 shares of the company’s stock worth $3,033,000 after buying an additional 1,475 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Valaris by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 1,893,667 shares of the company’s stock valued at $129,849,000 after purchasing an additional 77,490 shares in the last quarter. Insight Wealth Strategies LLC boosted its position in shares of Valaris by 3.0% during the first quarter. Insight Wealth Strategies LLC now owns 7,119 shares of the company’s stock valued at $536,000 after purchasing an additional 210 shares in the last quarter. Finally, NBC Securities Inc. bought a new stake in shares of Valaris during the first quarter valued at approximately $416,000. 96.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on VAL shares. Citigroup cut their price target on shares of Valaris from $95.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Benchmark reaffirmed a “buy” rating and issued a $90.00 target price on shares of Valaris in a research note on Monday, August 5th. Barclays lowered their price objective on shares of Valaris from $98.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Pickering Energy Partners lowered shares of Valaris from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 16th. Finally, Susquehanna began coverage on Valaris in a research report on Tuesday, September 24th. They set a “neutral” rating and a $62.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Valaris currently has an average rating of “Moderate Buy” and an average target price of $86.50.

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.