Valaris (NYSE:VAL) Shares Gap Down - Time to Sell?

Valaris Limited (NYSE:VAL - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $50.88, but opened at $48.97. Valaris shares last traded at $49.75, with a volume of 148,910 shares.

Analyst Ratings Changes

Several equities analysts have weighed in on VAL shares. Barclays dropped 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. Benchmark downgraded shares of Valaris from a "buy" rating to a "hold" rating in a research note on Tuesday, October 15th. Pickering Energy Partners lowered Valaris from an "outperform" rating to a "neutral" rating in a report on Tuesday, July 16th. Susquehanna decreased their price objective on Valaris from $62.00 to $61.00 and set a "neutral" rating for the company in a research note on Friday, October 11th. Finally, Citigroup reduced their target price on shares of Valaris from $95.00 to $71.00 and set a "buy" rating on the stock in a report on Thursday, September 12th. 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 company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $81.33.

Valaris Stock Performance

The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.49. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of 3.58 and a beta of 1.15. The stock's 50 day moving average is $55.77 and its two-hundred day moving average is $66.50.

Valaris (NYSE:VAL - Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported $2.03 earnings per share for the quarter, topping the consensus estimate of $0.96 by $1.07. The business had revenue of $610.10 million during the quarter, compared to the consensus estimate of $545.00 million. Valaris had a net margin of 49.33% and a return on equity of 12.58%. Analysts anticipate that Valaris Limited will post 4.37 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Gilles Luca sold 30,000 shares of the 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 sale, the chief operating officer now directly owns 108,342 shares of the company's stock, valued at $6,160,326.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Gilles Luca sold 30,000 shares of the business's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $56.86, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Matthew Lyne sold 26,000 shares of the firm's stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $55.77, for a total transaction of $1,450,020.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,403 shares of company stock valued at $4,028,246. Company insiders own 0.12% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VAL. EverSource Wealth Advisors LLC lifted its position in shares of Valaris by 180.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock valued at $27,000 after acquiring an additional 235 shares during the period. Headlands Technologies LLC acquired a new position in Valaris during the first quarter worth $149,000. Evergreen Capital Management LLC purchased a new stake in Valaris during the second quarter worth $204,000. Choreo LLC purchased a new stake in Valaris during the second quarter worth $204,000. Finally, Scientech Research LLC acquired a new stake in Valaris in the second quarter valued at $211,000. 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.