Gilles Luca Sells 30,000 Shares of Valaris Limited (NYSE:VAL) Stock

Valaris Limited (NYSE:VAL) COO Gilles Luca sold 30,000 shares of Valaris stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $56.86, for a total value of $1,705,800.00. Following the completion of the sale, the chief operating officer now owns 108,342 shares of the company’s stock, valued at $6,160,326.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Valaris Trading Down 0.3 %

NYSE:VAL opened at $54.45 on Thursday. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 4.76 and a beta of 1.17. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.73 and a quick ratio of 1.73. The business has a fifty day moving average price of $67.74 and a 200-day moving average price of $70.29. Valaris Limited has a one year low of $53.10 and a one year high of $84.20.

Valaris (NYSE:VAL) last posted its quarterly earnings data 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 return on equity of 12.58% and a net margin of 49.33%. The firm had revenue of $610.10 million for the quarter, compared to the consensus estimate of $545.00 million. Sell-side analysts forecast that Valaris Limited will post 4.37 EPS for the current year.

Institutional Investors Weigh In On Valaris

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in shares of Valaris by 180.8% in the first quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $27,000 after purchasing an additional 235 shares in the last quarter. Spire Wealth Management purchased a new stake in Valaris in the 4th quarter worth $101,000. Assetmark Inc. raised its holdings in Valaris by 88.3% during the fourth quarter. Assetmark Inc. now owns 1,747 shares of the company’s stock valued at $120,000 after acquiring an additional 819 shares during the period. Headlands Technologies LLC purchased a new position in shares of Valaris in the first quarter valued at about $149,000. Finally, Evergreen Capital Management LLC bought a new position in shares of Valaris in the second quarter worth about $204,000. Institutional investors own 96.74% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Pickering Energy Partners cut shares of Valaris from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 16th. Benchmark restated a “buy” rating and issued a $90.00 price target on shares of Valaris in a research note on Monday, August 5th. Finally, Barclays reduced their price objective on Valaris from $98.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.80.

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.