Valaris (NYSE:VAL) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Valaris (NYSE:VAL) in a research note published on Friday, Marketbeat.com reports. The brokerage issued an underweight rating and a $40.00 price target on the stock.

Several other analysts also recently weighed in on VAL. Benchmark downgraded Valaris from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Citigroup lowered their target price on Valaris from $71.00 to $58.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Susquehanna cut their price target 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 reduced their target price on shares of 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 assigned a buy rating to the company. According to data from MarketBeat, Valaris presently has a consensus rating of “Hold” and an average target price of $67.83.

Valaris Stock Performance

Shares of NYSE:VAL opened at $41.98 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market cap of $2.99 billion, a PE ratio of 2.88 and a beta of 1.09. The firm’s 50 day simple moving average is $49.97 and its 200-day simple moving average is $61.76. Valaris has a one year low of $41.66 and a one year high of $84.20.

Insider Buying and Selling at Valaris

In other Valaris news, SVP Matthew Lyne sold 26,000 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $55.77, for a total value of $1,450,020.00. Following the sale, the senior vice president now directly owns 24,388 shares of the company’s stock, valued at approximately $1,360,118.76. This represents a 51.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.12% of the company’s stock.

Institutional Trading of Valaris

Hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new stake in Valaris during the third quarter worth $25,000. Choreo LLC acquired a new position in shares of Valaris during the 2nd quarter worth approximately $204,000. Evergreen Capital Management LLC acquired a new position in Valaris during the second quarter worth $204,000. Scientech Research LLC purchased a new position in Valaris during the second quarter valued at $211,000. Finally, SkyView Investment Advisors LLC acquired a new stake in shares of Valaris in the second quarter valued at about $224,000. Hedge funds and other 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.