Valaris (NYSE:VAL) Sets New 12-Month Low – Time to Sell?

Valaris Limited (NYSE:VAL)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $45.38 and last traded at $45.73, with a volume of 115607 shares changing hands. The stock had previously closed at $46.49.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Susquehanna reduced their target price 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 reduced their target price on Valaris from $71.00 to $58.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Benchmark cut Valaris from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Finally, Barclays reduced their target price on Valaris from $61.00 to $59.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $73.40.

Valaris Price Performance

The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $3.19 billion, a P/E ratio of 3.19 and a beta of 1.09. The business has a 50 day simple moving average of $50.63 and a 200-day simple moving average of $62.35.

Insider Activity

In related news, SVP Matthew Lyne sold 26,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,360,118.76. This trade represents a 51.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Gilles Luca sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $56.86, for a total value of $1,705,800.00. Following the completion of the transaction, the chief operating officer now directly owns 108,342 shares in the company, valued at $6,160,326.12. The trade was a 21.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,403 shares of company stock valued at $4,028,246. Company insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in VAL. EverSource Wealth Advisors LLC boosted its stake in Valaris by 180.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $27,000 after buying an additional 235 shares in the last quarter. Quarry LP bought a new stake in Valaris in the third quarter valued at about $25,000. Evergreen Capital Management LLC bought a new stake in Valaris in the second quarter valued at about $204,000. Choreo LLC bought a new stake in Valaris in the second quarter valued at about $204,000. Finally, Scientech Research LLC bought a new stake in Valaris in the second quarter valued at about $211,000. 96.74% of the stock is owned by 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.