Valaris (NYSE:VAL) Hits New 52-Week Low – Time to Sell?

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Citigroup cut Valaris from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $58.00 to $47.00 in a report on Monday, December 9th. JPMorgan Chase & Co. assumed coverage on shares of Valaris in a research report on Friday, December 6th. They set an “underweight” rating and a $40.00 target price 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. Benchmark downgraded Valaris from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, Barclays reiterated an “equal weight” rating and issued a $49.00 price target (down previously from $59.00) on shares of Valaris in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Valaris currently has a consensus rating of “Hold” and a consensus target price of $64.33.

Valaris Trading Up 0.1 %

The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average price is $47.09 and its 200 day moving average price is $58.96. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 2.82 and a beta of 1.09.

Insider Transactions at Valaris

In related news, SVP Matthew Lyne sold 26,000 shares of Valaris stock in a transaction on Monday, September 30th. The shares were sold at an average price of $55.77, for a total value of $1,450,020.00. Following the completion of the sale, the senior vice president now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in VAL. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Valaris during the 2nd quarter valued at about $28,884,000. Dimensional Fund Advisors LP grew its holdings in Valaris by 23.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company’s stock worth $88,573,000 after buying an additional 225,283 shares in the last quarter. AQR Capital Management LLC raised its position in Valaris by 338.5% in the 2nd quarter. AQR Capital Management LLC now owns 236,379 shares of the company’s stock valued at $17,426,000 after buying an additional 182,467 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Valaris during the 2nd quarter valued at $13,306,000. Finally, Herr Investment Group LLC boosted its holdings in 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 acquiring an additional 130,236 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

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.