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

Shares of Valaris Limited (NYSE:VAL) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $35.11 and last traded at $35.33, with a volume of 149317 shares trading hands. The stock had previously closed at $35.70.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on VAL. Susquehanna reduced their price target on Valaris from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Evercore ISI downgraded Valaris from an “outperform” rating to an “in-line” rating and lowered their price target for the company from $87.00 to $59.00 in a report on Wednesday, January 15th. JPMorgan Chase & Co. began coverage on Valaris in a report on Friday, December 6th. They issued an “underweight” rating and a $40.00 price target for the company. StockNews.com upgraded Valaris to a “sell” rating in a report on Thursday, February 20th. Finally, Barclays lowered their price target on Valaris from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $55.00.

Valaris Stock Down 2.8 %

The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of 6.75 and a beta of 1.10. The stock’s 50 day moving average is $45.01 and its 200 day moving average is $49.59.

Valaris (NYSE:VAL) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.68. The firm had revenue of $584.40 million for the quarter, compared to analyst estimates of $578.01 million. Valaris had a net margin of 15.81% and a return on equity of 17.40%. Analysts forecast that Valaris Limited will post 3.96 EPS for the current year.

Hedge Funds Weigh In On Valaris

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lingotto Investment Management LLP boosted its stake in Valaris by 2.5% in the 4th quarter. Lingotto Investment Management LLP now owns 3,637,207 shares of the company’s stock worth $160,910,000 after purchasing an additional 87,420 shares during the period. Centiva Capital LP acquired a new position in Valaris in the 3rd quarter worth approximately $930,000. XTX Topco Ltd acquired a new position in Valaris in the 3rd quarter worth approximately $1,862,000. State of New Jersey Common Pension Fund D boosted its stake in Valaris by 19.8% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 31,391 shares of the company’s stock worth $1,750,000 after purchasing an additional 5,184 shares during the period. Finally, Waverton Investment Management Ltd boosted its stake in Valaris by 20.4% in the 3rd quarter. Waverton Investment Management Ltd now owns 670,885 shares of the company’s stock worth $37,412,000 after purchasing an additional 113,509 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

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.