Valaris (NYSE:VAL) Hits New 52-Week Low - Here's What Happened

Shares of Valaris Limited (NYSE:VAL - Get Free Report) hit a new 52-week low on Tuesday . The company traded as low as $48.46 and last traded at $48.60, with a volume of 587003 shares changing hands. The stock had previously closed at $49.59.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on VAL shares. Barclays decreased their target price on Valaris from $91.00 to $61.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Citigroup lowered their target price on shares of Valaris from $95.00 to $71.00 and set a "buy" rating on the stock in a research note 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. Susquehanna lowered their price target on Valaris from $62.00 to $61.00 and set a "neutral" rating on the stock in a research report on Friday, October 11th. Finally, Pickering Energy Partners cut Valaris from an "outperform" rating to a "neutral" rating in a research report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Valaris presently has an average rating of "Hold" and an average price target of $81.33.

Valaris Price Performance

The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 3.50 and a beta of 1.15. The stock's 50-day moving average price is $55.26 and its 200 day moving average price is $66.19. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.49.

Valaris (NYSE:VAL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.03 EPS for the quarter, beating the consensus estimate of $0.96 by $1.07. Valaris had a return on equity of 12.58% and a net margin of 49.33%. The firm had revenue of $610.10 million during the quarter, compared to analysts' expectations of $545.00 million. Equities research analysts predict that Valaris Limited will post 4.37 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Matthew Lyne sold 26,000 shares of the company'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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Matthew Lyne sold 26,000 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $1,360,118.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Davor Vukadin sold 15,403 shares of the company's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $56.64, for a total value of $872,425.92. Following the completion of the sale, the senior vice president now owns 13,334 shares in the company, valued at $755,237.76. This trade represents a 0.00 % decrease in their ownership of the stock. 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 over the last ninety days. 0.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Valaris

A number of hedge funds have recently made changes to their positions in the company. Diversify Advisory Services LLC grew its position in Valaris by 14.8% during the 3rd quarter. Diversify Advisory Services LLC now owns 137,572 shares of the company's stock worth $7,670,000 after acquiring an additional 17,690 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Valaris by 14.3% in the third quarter. State of Alaska Department of Revenue now owns 7,735 shares of the company's stock worth $431,000 after purchasing an additional 965 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Valaris by 5.1% during the third quarter. Louisiana State Employees Retirement System now owns 18,500 shares of the company's stock worth $1,031,000 after purchasing an additional 900 shares during the last quarter. X Square Capital LLC increased its stake in shares of Valaris by 4.8% in the third quarter. X Square Capital LLC now owns 15,370 shares of the company's stock valued at $857,000 after buying an additional 706 shares in the last quarter. Finally, Rye Brook Capital LLC bought a new position in shares of Valaris in the third quarter valued at about $2,520,000. Institutional investors and hedge funds own 96.74% of the company's stock.

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.