Valaris (NYSE:VAL) Trading Down 5.4% – Time to Sell?

Valaris Limited (NYSE:VAL)’s stock price fell 5.4% on Friday . The stock traded as low as $42.27 and last traded at $42.43. 400,764 shares were traded during trading, a decline of 63% from the average session volume of 1,093,786 shares. The stock had previously closed at $44.87.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on VAL shares. JPMorgan Chase & Co. began coverage on shares of Valaris in a report on Friday. They issued an “underweight” rating and a $40.00 price target for the company. Susquehanna cut their target price on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Benchmark lowered shares of Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Citigroup decreased their price objective on shares of Valaris from $71.00 to $58.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Finally, Barclays cut their price target on Valaris from $61.00 to $59.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Valaris currently has an average rating of “Hold” and a consensus price target of $67.83.

Valaris Price Performance

The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 3.08 and a beta of 1.09. The stock’s 50-day moving average price is $50.25 and its 200 day moving average price is $62.11. 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 other Valaris news, SVP Davor Vukadin sold 15,403 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $56.64, for a total value of $872,425.92. Following the sale, the senior vice president now owns 13,334 shares of the company’s stock, valued at $755,237.76. The trade was a 53.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 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 21.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,403 shares of company stock worth $4,028,246. Insiders own 0.12% of the company’s stock.

Institutional Trading of Valaris

A number of large investors have recently modified their holdings of VAL. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Valaris during the second quarter worth $28,884,000. Dimensional Fund Advisors LP boosted its holdings in Valaris by 23.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company’s stock valued at $88,573,000 after purchasing an additional 225,283 shares in the last quarter. AQR Capital Management LLC raised its holdings in Valaris by 338.5% during the second quarter. AQR Capital Management LLC now owns 236,379 shares of the company’s stock worth $17,426,000 after purchasing an additional 182,467 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Valaris during the 2nd quarter worth approximately $13,306,000. Finally, Herr Investment Group LLC lifted its position in shares of Valaris by 123.3% during the 2nd quarter. Herr Investment Group LLC now owns 235,822 shares of the company’s stock worth $17,569,000 after buying an additional 130,236 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

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.