Valaris (NYSE:VAL) Sets New 1-Year Low – Time to Sell?

Shares of Valaris Limited (NYSE:VAL) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $47.87 and last traded at $47.91, with a volume of 325018 shares. The stock had previously closed at $48.51.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Susquehanna dropped their target price on Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Benchmark downgraded Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Citigroup cut their price objective on Valaris from $95.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Finally, Barclays lowered their target price on Valaris from $61.00 to $59.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $80.00.

Valaris Stock Up 1.7 %

The company has a market cap of $3.36 billion, a P/E ratio of 3.19 and a beta of 1.17. The stock’s 50-day moving average price is $52.36 and its 200-day moving average price is $64.29. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.51.

Insider Buying and Selling at Valaris

In related news, SVP Davor Vukadin sold 15,403 shares of Valaris stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $56.64, for a total value of $872,425.92. Following the completion of the transaction, the senior vice president now directly owns 13,334 shares in the company, valued at approximately $755,237.76. The trade was a 53.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Gilles Luca sold 30,000 shares of the firm’s stock in a transaction on 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 transaction, the chief operating officer now directly owns 108,342 shares of the company’s stock, valued at $6,160,326.12. The trade was a 21.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,403 shares of company stock valued at $4,028,246. Company insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Valaris

Several hedge funds and other institutional investors have recently modified their holdings of VAL. Clearbridge Investments LLC increased its stake in shares of Valaris by 2.3% in the 1st quarter. Clearbridge Investments LLC now owns 232,070 shares of the company’s stock worth $17,466,000 after purchasing an additional 5,173 shares in the last quarter. Natixis purchased a new stake in Valaris during the first quarter valued at $730,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Valaris by 6.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,656 shares of the company’s stock valued at $2,609,000 after acquiring an additional 2,005 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new position in Valaris during the 1st quarter valued at about $418,000. Finally, Condire Management LP raised its position in shares of Valaris by 14.7% in the 1st quarter. Condire Management LP now owns 1,452,097 shares of the company’s stock worth $109,285,000 after acquiring an additional 186,076 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

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.