Valaris (NYSE:VAL) Reaches New 1-Year Low – Here’s Why

Valaris Limited (NYSE:VAL) hit a new 52-week low on Tuesday . The company traded as low as $39.90 and last traded at $40.11, with a volume of 69907 shares. The stock had previously closed at $40.97.

Analyst Ratings Changes

VAL has been the subject of a number of research analyst reports. Citigroup downgraded Valaris from a “buy” rating to a “neutral” rating and decreased their price target for the company from $58.00 to $47.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. began coverage on shares of Valaris in a research report on Friday, December 6th. They set an “underweight” rating and a $40.00 price target for the company. Barclays reaffirmed an “equal weight” rating and issued a $49.00 price objective (down previously from $59.00) on shares of Valaris in a research report on Wednesday, December 18th. Benchmark cut shares of Valaris from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, Susquehanna decreased their target price on Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Two investment 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 data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $64.33.

Valaris Stock Performance

The company has a 50-day moving average price of $47.09 and a two-hundred day moving average price of $58.96. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $2.92 billion, a P/E ratio of 2.82 and a beta of 1.09.

Insiders Place Their Bets

In other Valaris news, SVP Matthew Lyne sold 26,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $55.77, for a total value of $1,450,020.00. Following the sale, the senior vice president now owns 24,388 shares of the company’s stock, valued at $1,360,118.76. This trade represents a 51.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Centiva Capital LP bought a new position in shares of Valaris in the 3rd quarter worth $930,000. XTX Topco Ltd bought a new stake in Valaris during the third quarter worth about $1,862,000. Diversify Advisory Services LLC boosted its holdings in shares of Valaris by 14.8% in the 3rd quarter. Diversify Advisory Services LLC now owns 137,572 shares of the company’s stock worth $7,670,000 after purchasing an additional 17,690 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Valaris during the 2nd quarter valued at about $3,652,000. Finally, Waverton Investment Management Ltd lifted its position in Valaris by 20.4% in the 3rd quarter. Waverton Investment Management Ltd now owns 670,885 shares of the company’s stock worth $37,412,000 after buying an additional 113,509 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.

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.