Valaris (NYSE:VAL) Hits New 12-Month Low – Should You Sell?

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

Wall Street Analyst Weigh In

Several research analysts have 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. JPMorgan Chase & Co. started coverage on shares of Valaris in a research note on Friday. They issued an “underweight” rating and a $40.00 price target for the company. Citigroup cut their price target on shares of Valaris from $71.00 to $58.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Susquehanna decreased their price objective on Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, Barclays dropped their target price on Valaris from $61.00 to $59.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $67.83.

Valaris Trading Down 0.4 %

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.61. The firm’s 50 day moving average price is $50.25 and its 200 day moving average price is $62.11. The stock has a market capitalization of $3.19 billion, a P/E ratio of 3.08 and a beta of 1.09.

Insider Buying and Selling at Valaris

In other Valaris news, COO Gilles Luca sold 30,000 shares of the company’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 transaction of $1,705,800.00. Following the transaction, the chief operating officer now owns 108,342 shares in the company, valued at approximately $6,160,326.12. This represents a 21.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Matthew Lyne sold 26,000 shares of the 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 completion of the transaction, the senior vice president now directly owns 24,388 shares of the company’s stock, valued at $1,360,118.76. This represents a 51.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,403 shares of company stock valued at $4,028,246 in the last 90 days. Insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Valaris

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Valaris during the second quarter valued at $28,884,000. Dimensional Fund Advisors LP increased its stake in shares of Valaris by 23.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company’s stock worth $88,573,000 after acquiring an additional 225,283 shares in the last quarter. AQR Capital Management LLC lifted its position in Valaris by 338.5% during the 2nd quarter. AQR Capital Management LLC now owns 236,379 shares of the company’s stock valued at $17,426,000 after acquiring an additional 182,467 shares during the period. Canada Pension Plan Investment Board bought a new stake in Valaris during the second quarter worth about $13,306,000. Finally, Herr Investment Group LLC grew its holdings in Valaris by 123.3% in the second quarter. Herr Investment Group LLC now owns 235,822 shares of the company’s stock worth $17,569,000 after purchasing an additional 130,236 shares during the period. 96.74% of the stock is owned by hedge funds and other institutional investors.

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.