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

Valaris Limited (NYSE:VAL)’s share price hit 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. The stock had previously closed at $52.93.

Other equities research analysts also recently issued reports about the stock. Citigroup reduced their price objective on shares of Valaris from $95.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Pickering Energy Partners downgraded shares of Valaris from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 16th. Barclays reduced their price objective on shares of Valaris from $98.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Finally, Benchmark reiterated a “buy” rating and set a $90.00 price objective on shares of Valaris in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Valaris presently has an average rating of “Moderate Buy” and an average price target of $86.33.

Insider Transactions at Valaris

In other news, COO Gilles Luca sold 30,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $56.86, for a total value of $1,705,800.00. Following the completion of the transaction, the chief operating officer now owns 108,342 shares of the company’s stock, valued at approximately $6,160,326.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Gilles Luca sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $56.86, for a total value of $1,705,800.00. Following the completion of the transaction, the chief operating officer now owns 108,342 shares in the company, valued at $6,160,326.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Matthew Lyne sold 26,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were 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 owns 24,388 shares of the company’s stock, valued at approximately $1,360,118.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,403 shares of company stock valued at $4,028,246. 0.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its position in Valaris by 180.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $27,000 after purchasing an additional 235 shares during the period. Headlands Technologies LLC acquired a new stake in Valaris during the 1st quarter valued at approximately $149,000. Choreo LLC acquired a new stake in Valaris during the 2nd quarter valued at approximately $204,000. Evergreen Capital Management LLC acquired a new stake in Valaris during the 2nd quarter valued at approximately $204,000. Finally, Scientech Research LLC acquired a new stake in Valaris during the 2nd quarter valued at approximately $211,000. Institutional investors own 96.74% of the company’s stock.

Valaris Price Performance

The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 4.57 and a beta of 1.15. The business’s 50-day simple moving average is $58.14 and its two-hundred day simple moving average is $67.98. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.49.

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