Valaris (NYSE:VAL) Hits New 1-Year Low – Here’s What Happened

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Citigroup dropped their price target on shares of Valaris from $95.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Barclays dropped their target price on shares of Valaris from $61.00 to $59.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Susquehanna reduced their price target on Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, Benchmark cut Valaris from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. One 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 company. Based on data from MarketBeat.com, Valaris presently has an average rating of “Hold” and an average price target of $80.00.

Valaris Stock Down 0.4 %

The company has a 50-day moving average of $52.68 and a two-hundred day moving average of $64.56. The company has a market capitalization of $3.44 billion, a P/E ratio of 3.33 and a beta of 1.17. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.51.

Insider Buying and Selling at Valaris

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 sale, the chief operating officer now owns 108,342 shares in the company, valued at approximately $6,160,326.12. This trade represents a 21.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Matthew Lyne sold 26,000 shares of Valaris stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 24,388 shares of the company’s stock, valued at approximately $1,360,118.76. This trade represents a 51.60 % decrease in their position. 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. Corporate insiders own 0.12% of the company’s stock.

Institutional Trading of Valaris

Several large investors have recently modified their holdings of the company. Arizona State Retirement System boosted its position in Valaris by 1.2% in the second quarter. Arizona State Retirement System now owns 18,244 shares of the company’s stock worth $1,359,000 after purchasing an additional 214 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings 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 buying an additional 235 shares during the last quarter. World Equity Group Inc. boosted its holdings in shares of Valaris by 1.9% in the second quarter. World Equity Group Inc. now owns 12,827 shares of the company’s stock worth $956,000 after buying an additional 238 shares during the last quarter. Victory Capital Management Inc. grew its position in Valaris by 5.0% during the second quarter. Victory Capital Management Inc. now owns 5,080 shares of the company’s stock valued at $378,000 after buying an additional 243 shares during the period. Finally, Deane Retirement Strategies Inc. increased its holdings in Valaris by 0.6% during the third quarter. Deane Retirement Strategies Inc. now owns 40,504 shares of the company’s stock valued at $2,259,000 after buying an additional 251 shares during the last quarter. 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.