Valaris Limited (NYSE:VAL) Receives Average Recommendation of “Moderate Buy” from Brokerages

Valaris Limited (NYSE:VAL) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $80.00.

A number of research analysts have recently weighed in on VAL shares. Citigroup dropped their price target on Valaris from $95.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Benchmark cut shares of Valaris from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. 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 research report on Friday, November 1st. Finally, Barclays lowered their price target on shares of Valaris from $61.00 to $59.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th.

Valaris Stock Performance

VAL opened at $48.51 on Tuesday. Valaris has a 1-year low of $48.04 and a 1-year high of $84.20. The stock has a market cap of $3.45 billion, a P/E ratio of 3.33 and a beta of 1.17. The stock’s 50 day simple moving average is $52.68 and its 200 day simple moving average is $64.56. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.61.

Insider Buying and Selling at Valaris

In other Valaris news, COO Gilles Luca sold 30,000 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $56.86, for a total transaction of $1,705,800.00. Following the transaction, the chief operating officer now owns 108,342 shares of the company’s stock, valued at $6,160,326.12. This represents a 21.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Matthew Lyne sold 26,000 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 24,388 shares in the company, valued at $1,360,118.76. This trade represents a 51.60 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,403 shares of company stock worth $4,028,246. Corporate insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of VAL. Quarry LP acquired a new stake in shares of Valaris in the third quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its stake in Valaris by 180.8% during the first quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $27,000 after purchasing an additional 235 shares during the period. Headlands Technologies LLC acquired a new position in shares of Valaris in the 1st quarter valued at $149,000. Choreo LLC purchased a new stake in shares of Valaris during the 2nd quarter valued at $204,000. Finally, Evergreen Capital Management LLC purchased a new stake in shares of Valaris during the 2nd quarter valued at $204,000. Institutional investors and hedge funds 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.