Brokerages Set Valaris Limited (NYSE:VAL) Target Price at $67.83

Shares of Valaris Limited (NYSE:VAL - Get Free Report) have been given a consensus rating of "Hold" by the seven analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $67.83.

VAL has been the subject of several recent analyst reports. Benchmark downgraded Valaris from a "buy" rating to a "hold" rating in a report on Tuesday, October 15th. Susquehanna dropped their price target on shares of Valaris from $61.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, November 1st. Citigroup decreased their price objective on shares of Valaris from $71.00 to $58.00 and set a "buy" rating for the company in a research report on Wednesday, November 27th. JPMorgan Chase & Co. started coverage on shares of Valaris in a report on Friday. They issued an "underweight" rating and a $40.00 target price on the stock. Finally, Barclays reduced their price target on Valaris from $61.00 to $59.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th.

Valaris Stock Down 6.4 %

NYSE VAL traded down $2.89 during trading hours on Friday, hitting $41.98. 2,458,162 shares of the company traded hands, compared to its average volume of 1,512,073. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.61. The business's 50-day moving average is $49.97 and its 200-day moving average is $61.87. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 2.88 and a beta of 1.09. Valaris has a twelve month low of $41.66 and a twelve month high of $84.20.

Insider Buying and Selling

In other news, 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 sale, the chief operating officer now owns 108,342 shares of the company's stock, valued at approximately $6,160,326.12. This trade represents a 21.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Davor Vukadin sold 15,403 shares of the business's stock in a transaction dated Monday, September 9th. The shares were 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 directly owns 13,334 shares of the company's stock, valued at approximately $755,237.76. The trade was a 53.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,403 shares of company stock valued at $4,028,246. Company insiders own 0.12% of the company's stock.

Institutional Trading of Valaris

Hedge funds and other institutional investors have recently bought and sold shares of the business. Retirement Systems of Alabama increased its holdings in shares of Valaris by 2.2% during the third quarter. Retirement Systems of Alabama now owns 190,025 shares of the company's stock worth $10,594,000 after purchasing an additional 4,065 shares during the period. Franklin Resources Inc. boosted its stake in shares of Valaris by 4.6% in the third quarter. Franklin Resources Inc. now owns 37,429 shares of the company's stock valued at $1,956,000 after buying an additional 1,634 shares during the period. Geode Capital Management LLC grew its position in Valaris by 4.6% during the third quarter. Geode Capital Management LLC now owns 1,519,644 shares of the company's stock worth $84,736,000 after buying an additional 66,229 shares in the last quarter. Orion Portfolio Solutions LLC increased its stake in Valaris by 64.5% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 16,066 shares of the company's stock worth $896,000 after acquiring an additional 6,299 shares during the period. Finally, XTX Topco Ltd acquired a new position in Valaris in the 3rd quarter valued at $1,862,000. 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.