Valaris (NYSE:VAL) Given Equal Weight Rating at Barclays

Barclays reiterated their equal weight rating on shares of Valaris (NYSE:VAL) in a research note released on Wednesday, MarketBeat Ratings reports. They currently have a $49.00 target price on the stock, down from their previous target price of $59.00.

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

Valaris Trading Up 0.7 %

Shares of NYSE VAL opened at $41.22 on Wednesday. Valaris has a twelve month low of $40.41 and a twelve month high of $84.20. The firm has a market cap of $2.93 billion, a PE ratio of 2.83 and a beta of 1.09. The business has a fifty day simple moving average of $47.69 and a two-hundred day simple moving average of $59.67. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.51.

Insiders Place Their Bets

In other news, SVP Matthew Lyne sold 26,000 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $55.77, for a total transaction of $1,450,020.00. Following the transaction, the senior vice president now owns 24,388 shares in the company, valued at $1,360,118.76. This represents a 51.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.12% of the company’s stock.

Institutional Trading of Valaris

A number of institutional investors have recently bought and sold shares of VAL. Quarry LP purchased a new position in shares of Valaris in the third quarter worth $25,000. Choreo LLC acquired a new position in shares of Valaris in the 2nd quarter valued at $204,000. Evergreen Capital Management LLC purchased a new position in Valaris in the 2nd quarter worth $204,000. Scientech Research LLC acquired a new stake in Valaris during the 2nd quarter worth about $211,000. Finally, SkyView Investment Advisors LLC purchased a new stake in Valaris during the 2nd quarter valued at about $224,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

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.