Valaris (NYSE:VAL) Price Target Cut to $55.00 by Analysts at Susquehanna

Valaris (NYSE:VAL) had its target price cut by Susquehanna from $61.00 to $55.00 in a research report report published on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

VAL has been the topic of several other research reports. Citigroup lowered their price target on shares of Valaris from $95.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Benchmark downgraded Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Pickering Energy Partners cut Valaris from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 16th. Finally, Barclays dropped their price objective on Valaris from $91.00 to $61.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $80.33.

Valaris Stock Performance

Shares of NYSE:VAL traded down $2.17 during mid-day trading on Friday, reaching $48.43. The company had a trading volume of 1,702,927 shares, compared to its average volume of 1,428,664. The company’s 50-day moving average price is $54.53 and its 200-day moving average price is $65.82. Valaris has a one year low of $48.04 and a one year high of $84.20. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 3.33 and a beta of 1.17. The company has a current ratio of 1.61, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.

Valaris (NYSE:VAL) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.03 earnings per share for the quarter, topping the consensus estimate of $0.96 by $1.07. Valaris had a return on equity of 13.67% and a net margin of 47.52%. The company had revenue of $610.10 million during the quarter, compared to the consensus estimate of $545.00 million. As a group, equities research analysts anticipate that Valaris will post 4.37 EPS for the current fiscal year.

Insider Buying and Selling at Valaris

In other news, SVP Davor Vukadin sold 15,403 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $56.64, for a total value of $872,425.92. Following the transaction, the senior vice president now owns 13,334 shares of the company’s stock, valued at $755,237.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Davor Vukadin sold 15,403 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $56.64, for a total transaction of $872,425.92. Following the transaction, the senior vice president now directly owns 13,334 shares of the company’s stock, valued at approximately $755,237.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Gilles Luca sold 30,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 108,342 shares of the company’s stock, valued at $6,160,326.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,403 shares of company stock worth $4,028,246 over the last three months. 0.12% of the stock is owned by insiders.

Institutional Trading of Valaris

Several institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its position in Valaris by 180.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $27,000 after acquiring an additional 235 shares during the last quarter. Headlands Technologies LLC bought a new stake in Valaris during the 1st quarter valued at $149,000. Choreo LLC bought a new stake in Valaris in the 2nd quarter worth $204,000. Evergreen Capital Management LLC purchased a new position in shares of Valaris in the second quarter valued at about $204,000. Finally, Scientech Research LLC bought a new position in shares of Valaris during the second quarter valued at about $211,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

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.