Valaris (NYSE:VAL) Hits New 12-Month Low – Here’s Why

Valaris Limited (NYSE:VAL) hit a new 52-week low on Tuesday . The company traded as low as $39.90 and last traded at $40.11, with a volume of 69907 shares. The stock had previously closed at $40.97.

Wall Street Analyst Weigh In

A number of analysts recently commented on VAL shares. JPMorgan Chase & Co. began coverage on Valaris in a report on Friday, December 6th. They set an “underweight” rating and a $40.00 price target on the stock. Susquehanna cut their price target on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Citigroup downgraded shares of Valaris from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $58.00 to $47.00 in a report on Monday, December 9th. Benchmark downgraded Valaris from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Finally, Barclays restated an “equal weight” rating and issued a $49.00 target price (down from $59.00) on shares of Valaris in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $64.33.

Valaris Stock Performance

The company has a 50 day simple moving average of $47.46 and a 200-day simple moving average of $59.30. The stock has a market cap of $2.87 billion, a P/E ratio of 2.78 and a beta of 1.09. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.61.

Insiders Place Their Bets

In other Valaris news, 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 value of $1,450,020.00. Following the transaction, the senior vice president now directly owns 24,388 shares of the company’s stock, valued at $1,360,118.76. The trade was a 51.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Valaris

A number of large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its holdings in Valaris by 5.2% in the second quarter. Bank of New York Mellon Corp now owns 586,228 shares of the company’s stock valued at $43,674,000 after acquiring an additional 29,128 shares in the last quarter. Hosking Partners LLP grew its holdings in shares of Valaris by 8.0% during the 2nd quarter. Hosking Partners LLP now owns 256,484 shares of the company’s stock worth $19,108,000 after acquiring an additional 19,016 shares during the period. nVerses Capital LLC bought a new position in shares of Valaris in the 2nd quarter worth approximately $298,000. Mraz Amerine & Associates Inc. lifted its stake in shares of Valaris by 124.2% in the 2nd quarter. Mraz Amerine & Associates Inc. now owns 43,057 shares of the company’s stock valued at $3,208,000 after purchasing an additional 23,855 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Valaris by 5.2% during the second quarter. Rhumbline Advisers now owns 202,825 shares of the company’s stock valued at $15,110,000 after purchasing an additional 10,062 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors.

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.