Valaris Limited (NYSE:VAL) Receives $80.00 Average Target Price from Brokerages

Valaris Limited (NYSE:VAL) has been given a consensus rating of “Moderate Buy” by the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $80.00.

Several research analysts recently issued reports on VAL shares. Benchmark cut Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Susquehanna cut their price objective on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Citigroup lowered their target price on shares of Valaris from $95.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Finally, Barclays dropped their price target on shares of Valaris from $61.00 to $59.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th.

Insider Transactions at Valaris

In other news, SVP Davor Vukadin sold 15,403 shares of Valaris stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $56.64, for a total transaction of $872,425.92. Following the completion of the sale, the senior vice president now owns 13,334 shares in the company, valued at approximately $755,237.76. This trade represents a 53.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Gilles Luca sold 30,000 shares of Valaris stock in a transaction 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 owns 108,342 shares in the company, valued at approximately $6,160,326.12. The trade was a 21.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,403 shares of company stock worth $4,028,246 in the last quarter. Insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Valaris

Institutional investors have recently made changes to their positions in the company. Edgestream Partners L.P. purchased a new position in shares of Valaris in the 3rd quarter worth $3,285,000. Raffles Associates LP purchased a new stake in Valaris during the 3rd quarter valued at approximately $558,000. Verition Fund Management LLC increased its holdings in Valaris by 92.2% in the 3rd quarter. Verition Fund Management LLC now owns 26,525 shares of the company’s stock valued at $1,479,000 after acquiring an additional 12,725 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Valaris by 2.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,292 shares of the company’s stock worth $6,985,000 after buying an additional 2,598 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Valaris by 12.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,348 shares of the company’s stock valued at $856,000 after acquiring an additional 1,713 shares during the period. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Valaris Stock Performance

Shares of VAL opened at $50.61 on Tuesday. The firm has a market capitalization of $3.60 billion, a P/E ratio of 3.40 and a beta of 1.17. Valaris has a 52 week low of $48.04 and a 52 week high of $84.20. The stock has a 50 day moving average price of $52.95 and a two-hundred day moving average price of $64.80. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.61.

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.