Valaris’ (VAL) Equal Weight Rating Reaffirmed at Barclays

Barclays reiterated their equal weight rating on shares of Valaris (NYSE:VAL) in a research note issued to investors on Wednesday morning, Marketbeat reports. They currently have a $49.00 target price on the stock, down from their prior target price of $59.00.

A number of other equities analysts also recently commented on the stock. Benchmark downgraded shares of Valaris from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Susquehanna decreased their price objective on Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Citigroup lowered Valaris from a “buy” rating to a “neutral” rating and cut their target price for the company from $58.00 to $47.00 in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. started coverage on shares of Valaris in a research report on Friday, December 6th. They issued an “underweight” rating and a $40.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $64.33.

Valaris Trading Up 2.5 %

Shares of NYSE VAL traded up $1.03 during trading hours on Wednesday, reaching $42.24. The stock had a trading volume of 35,687 shares, compared to its average volume of 1,128,122. The business’s fifty day moving average price is $48.17 and its two-hundred day moving average price is $60.03. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 2.90 and a beta of 1.09. Valaris has a 52-week low of $41.02 and a 52-week high of $84.20. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.51.

Insider Activity at Valaris

In related news, 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 completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 0.12% of the stock is currently owned by insiders.

Institutional Trading of Valaris

Large investors have recently added to or reduced their stakes in the company. Centiva Capital LP acquired a new stake in shares of Valaris during the third quarter worth about $930,000. XTX Topco Ltd purchased a new position in Valaris during the 3rd quarter worth approximately $1,862,000. Diversify Advisory Services LLC lifted its stake in Valaris by 14.8% during the 3rd quarter. Diversify Advisory Services LLC now owns 137,572 shares of the company’s stock valued at $7,670,000 after acquiring an additional 17,690 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Valaris in the 2nd quarter valued at $3,652,000. Finally, Waverton Investment Management Ltd increased its stake in shares of Valaris by 20.4% in the third quarter. Waverton Investment Management Ltd now owns 670,885 shares of the company’s stock worth $37,412,000 after acquiring an additional 113,509 shares during the period. 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.