Valaris (NYSE:VAL) Coverage Initiated by Analysts at JPMorgan Chase & Co.

Equities researchers at JPMorgan Chase & Co. initiated coverage on shares of Valaris (NYSE:VAL - Get Free Report) in a research note issued on Friday, Marketbeat.com reports. The brokerage set an "underweight" rating and a $40.00 price target on the stock. JPMorgan Chase & Co.'s target price would suggest a potential downside of 4.72% from the stock's previous close.

Several other equities research analysts have also recently issued reports on VAL. Barclays decreased their price objective on Valaris from $61.00 to $59.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Citigroup lowered their price target on Valaris from $71.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday, November 27th. Benchmark lowered shares of Valaris from a "buy" rating to a "hold" rating in a report on Tuesday, October 15th. Finally, Susquehanna lowered their target price 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. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $67.83.

Valaris Trading Down 6.4 %

Shares of VAL traded down $2.89 on Friday, hitting $41.98. 2,458,162 shares of the stock traded hands, compared to its average volume of 1,512,073. The firm has a market capitalization of $2.99 billion, a P/E ratio of 2.88 and a beta of 1.09. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.51. Valaris has a 1 year low of $41.66 and a 1 year high of $84.20. The stock's 50 day moving average is $49.97 and its two-hundred day moving average is $61.87.

Insider Buying and Selling at Valaris

In related news, SVP Matthew Lyne sold 26,000 shares of the firm's stock in a transaction dated 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 sale, the senior vice president now directly owns 24,388 shares in the company, valued at approximately $1,360,118.76. This trade represents a 51.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Gilles Luca sold 30,000 shares of the business'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 value of $1,705,800.00. Following the transaction, the chief operating officer now directly owns 108,342 shares in the company, valued at $6,160,326.12. This trade represents a 21.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,403 shares of company stock valued at $4,028,246 over the last ninety days. Corporate insiders own 0.12% of the company's stock.

Institutional Trading of Valaris

Several large investors have recently modified their holdings of VAL. SG Americas Securities LLC boosted its holdings in Valaris by 112.6% in the second quarter. SG Americas Securities LLC now owns 35,885 shares of the company's stock valued at $2,673,000 after purchasing an additional 19,004 shares during the last quarter. Fermata Advisors LLC purchased a new position in shares of Valaris during the 2nd quarter valued at approximately $237,000. World Equity Group Inc. grew its position in shares of Valaris by 1.9% during the second quarter. World Equity Group Inc. now owns 12,827 shares of the company's stock worth $956,000 after buying an additional 238 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Valaris by 5.2% during the second quarter. Bank of New York Mellon Corp now owns 586,228 shares of the company's stock worth $43,674,000 after buying an additional 29,128 shares in the last quarter. Finally, Meixler Investment Management Ltd. increased its stake in shares of Valaris by 2.6% in the second quarter. Meixler Investment Management Ltd. now owns 34,044 shares of the company's stock worth $2,536,000 after buying an additional 853 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

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.