Valaris (NYSE:VAL) Shares Down 3.1%

Valaris Limited (NYSE:VAL - Get Free Report)'s share price fell 3.1% on Tuesday . The stock traded as low as $63.42 and last traded at $63.42. 163,687 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 953,603 shares. The stock had previously closed at $65.43.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on VAL. Pickering Energy Partners downgraded shares of Valaris from an "outperform" rating to a "neutral" rating in a report on Tuesday, July 16th. Barclays dropped their target price on shares of Valaris from $98.00 to $91.00 and set an "overweight" rating for the company in a report on Friday. StockNews.com raised shares of Valaris to a "sell" rating in a report on Friday, April 26th. Finally, Benchmark reaffirmed a "buy" rating and issued a $90.00 target price on shares of Valaris in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Valaris presently has an average rating of "Moderate Buy" and an average target price of $97.80.

Valaris Stock Performance

The firm has a market cap of $4.63 billion, a PE ratio of 5.57 and a beta of 1.21. 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 firm's 50 day simple moving average is $73.34 and its 200 day simple moving average is $70.99.

Institutional Trading of Valaris

Several hedge funds have recently made changes to their positions in the business. SeaCrest Wealth Management LLC raised its position in shares of Valaris by 1.0% during the 1st quarter. SeaCrest Wealth Management LLC now owns 16,124 shares of the company's stock valued at $1,213,000 after buying an additional 152 shares in the last quarter. Smith Anglin Financial LLC grew its holdings in Valaris by 5.4% during the 1st quarter. Smith Anglin Financial LLC now owns 3,740 shares of the company's stock valued at $281,000 after purchasing an additional 190 shares during the last quarter. Insight Wealth Strategies LLC grew its holdings in Valaris by 3.0% during the 1st quarter. Insight Wealth Strategies LLC now owns 7,119 shares of the company's stock valued at $536,000 after purchasing an additional 210 shares during the last quarter. Arizona State Retirement System grew its holdings in Valaris by 1.2% during the 2nd quarter. Arizona State Retirement System now owns 18,244 shares of the company's stock valued at $1,359,000 after purchasing an additional 214 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in 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 purchasing an additional 235 shares during the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

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.