Susquehanna Issues Pessimistic Forecast for Valaris (NYSE:VAL) Stock Price

Valaris (NYSE:VAL) had its target price reduced by Susquehanna from $61.00 to $55.00 in a research report released on Friday, Benzinga reports. Susquehanna currently has a neutral rating on the stock.

Several other brokerages have also commented on VAL. Citigroup decreased their target price 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. Benchmark lowered shares of Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Barclays decreased their target price on shares of Valaris from $91.00 to $61.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Pickering Energy Partners lowered shares of Valaris from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $80.33.

Valaris Stock Performance

NYSE:VAL opened at $49.71 on Friday. The firm’s fifty day moving average price is $54.26 and its 200 day moving average price is $65.66. Valaris has a 1-year low of $48.04 and a 1-year high of $84.20. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.73. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of 3.41 and a beta of 1.17.

Insider Transactions at Valaris

In other news, SVP Matthew Lyne sold 26,000 shares of Valaris 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 transaction, the senior vice president now owns 24,388 shares of the company’s stock, valued at $1,360,118.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Matthew Lyne sold 26,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 24,388 shares of the company’s stock, valued at approximately $1,360,118.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Davor Vukadin sold 15,403 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $56.64, for a total transaction of $872,425.92. Following the completion of the transaction, the senior vice president now directly owns 13,334 shares of the company’s stock, valued at $755,237.76. The trade was a 0.00 % 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. 0.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of VAL. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Valaris during the 2nd quarter valued at about $28,884,000. Dimensional Fund Advisors LP increased its stake in shares of Valaris by 23.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company’s stock valued at $88,573,000 after acquiring an additional 225,283 shares during the last quarter. Condire Management LP increased its stake in shares of Valaris by 14.7% during the 1st quarter. Condire Management LP now owns 1,452,097 shares of the company’s stock valued at $109,285,000 after acquiring an additional 186,076 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of 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 last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Valaris during the 2nd quarter valued at about $13,306,000. Institutional investors and hedge funds 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.