Barclays Cuts Valaris (NYSE:VAL) Price Target to $59.00

Valaris (NYSE:VAL) had its price objective lowered by Barclays from $61.00 to $59.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts also recently weighed in on the stock. Susquehanna decreased 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. Citigroup cut their price target on Valaris from $95.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Benchmark cut Valaris from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, Pickering Energy Partners cut Valaris from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $80.00.

Valaris Stock Performance

NYSE:VAL opened at $49.29 on Tuesday. The company has a market capitalization of $3.51 billion, a PE ratio of 3.39 and a beta of 1.17. The company has a 50 day simple moving average of $54.26 and a two-hundred day simple moving average of $65.66. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.61. Valaris has a fifty-two week low of $48.04 and a fifty-two week high of $84.20.

Insider Buying and Selling

In related news, SVP Matthew Lyne sold 26,000 shares of the 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 transaction, the senior vice president now directly owns 24,388 shares in the company, valued at $1,360,118.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related 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 value of $1,705,800.00. Following the transaction, the chief operating officer now directly owns 108,342 shares in the company, valued at $6,160,326.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Matthew Lyne sold 26,000 shares of the 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 completion of the transaction, the senior vice president now owns 24,388 shares in the company, valued at approximately $1,360,118.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,403 shares of company stock worth $4,028,246 in the last ninety days. Corporate insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Valaris

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. purchased a new stake in Valaris in the 3rd quarter valued at $244,000. Saturna Capital Corp raised its position in Valaris by 4.8% in the 3rd quarter. Saturna Capital Corp now owns 13,290 shares of the company’s stock valued at $741,000 after buying an additional 604 shares during the last quarter. Victory Capital Management Inc. raised its position in Valaris by 21.3% in the 3rd quarter. Victory Capital Management Inc. now owns 6,164 shares of the company’s stock valued at $344,000 after buying an additional 1,084 shares during the last quarter. Waverton Investment Management Ltd raised its position in Valaris by 20.4% in the 3rd quarter. Waverton Investment Management Ltd now owns 670,885 shares of the company’s stock valued at $37,412,000 after buying an additional 113,509 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV purchased a new stake in Valaris in the 3rd quarter valued at $1,345,000. 96.74% of the stock is owned by hedge funds and other institutional investors.

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.