Barclays Reiterates “Equal Weight” Rating for Valaris (NYSE:VAL)

Valaris (NYSE:VAL)‘s stock had its “equal weight” rating reiterated by stock analysts at Barclays in a note issued to investors on Wednesday, MarketBeat Ratings reports. They presently have a $49.00 target price on the stock, down from their prior target price of $59.00. Barclays‘s target price indicates a potential upside of 13.72% from the stock’s current price.

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

Valaris Trading Up 0.5 %

Shares of NYSE:VAL opened at $43.09 on Wednesday. The company has a 50 day moving average of $48.38 and a 200-day moving average of $60.16. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.51. The firm has a market cap of $3.06 billion, a P/E ratio of 2.96 and a beta of 1.09. Valaris has a twelve month low of $41.13 and a twelve month high of $84.20.

Insider Activity at Valaris

In other news, SVP Matthew Lyne sold 26,000 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 24,388 shares in the company, valued at $1,360,118.76. The trade was a 51.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.12% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Valaris

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