Barclays Has Lowered Expectations for Valaris (NYSE:VAL) Stock Price

Valaris (NYSE:VAL) had its price objective dropped by Barclays from $61.00 to $59.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 12.88% from the company’s current price.

Several other equities analysts have also weighed in on VAL. Citigroup cut their price objective 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. Pickering Energy Partners lowered shares of Valaris from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 16th. Susquehanna decreased their price objective on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Finally, Benchmark lowered Valaris from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, Valaris has a consensus rating of “Hold” and a consensus target price of $80.00.

Valaris Stock Performance

Shares of VAL stock opened at $52.27 on Tuesday. The firm has a market cap of $3.72 billion, a P/E ratio of 3.59 and a beta of 1.17. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.61. Valaris has a fifty-two week low of $48.04 and a fifty-two week high of $84.20. The stock’s 50-day moving average is $53.99 and its two-hundred day moving average is $65.52.

Insiders Place Their Bets

In other news, COO Gilles Luca sold 30,000 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 108,342 shares of the company’s stock, valued at approximately $6,160,326.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other 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 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Matthew Lyne sold 26,000 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $55.77, for a total transaction of $1,450,020.00. Following the completion of the sale, the senior vice president now owns 24,388 shares in the company, valued at approximately $1,360,118.76. 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 valued at $4,028,246 in the last quarter. Insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its position in Valaris by 180.8% during the first quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $27,000 after buying an additional 235 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Valaris in the 1st quarter worth approximately $149,000. Evergreen Capital Management LLC bought a new stake in shares of Valaris in the 2nd quarter worth approximately $204,000. Choreo LLC acquired a new stake in shares of Valaris during the 2nd quarter worth approximately $204,000. Finally, Scientech Research LLC bought a new stake in shares of Valaris during the second quarter valued at approximately $211,000. Institutional investors own 96.74% of the company’s stock.

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.