Valaris (NYSE:VAL) Shares Down 3.5% - Should You Sell?

Valaris Limited (NYSE:VAL - Get Free Report) shares dropped 3.5% during mid-day trading on Wednesday . The stock traded as low as $39.46 and last traded at $39.24. Approximately 38,983 shares changed hands during trading, a decline of 97% from the average daily volume of 1,359,249 shares. The stock had previously closed at $40.64.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VAL. StockNews.com upgraded shares of Valaris to a "sell" rating in a report on Thursday, February 20th. Citigroup reduced their price objective on Valaris from $48.00 to $44.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Barclays reduced their price target on Valaris from $46.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Monday. Susquehanna lowered their target price on shares of Valaris from $50.00 to $47.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. Finally, Evercore ISI cut Valaris from an "outperform" rating to an "in-line" rating and cut their price target for the company from $87.00 to $59.00 in a research note on Wednesday, January 15th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to data from MarketBeat.com, Valaris currently has a consensus rating of "Hold" and a consensus target price of $52.50.

Valaris Stock Performance

The company has a market cap of $2.16 billion, a PE ratio of 5.88 and a beta of 1.06. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48. The stock's 50 day simple moving average is $41.07 and its two-hundred day simple moving average is $45.85.

Valaris (NYSE:VAL - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.68. The business had revenue of $584.40 million for the quarter, compared to analyst estimates of $578.01 million. Valaris had a net margin of 15.81% and a return on equity of 17.40%. As a group, research analysts anticipate that Valaris Limited will post 3.96 earnings per share for the current year.

Institutional Trading of Valaris

Large investors have recently modified their holdings of the business. Hara Capital LLC grew its position in shares of Valaris by 65.1% during the fourth quarter. Hara Capital LLC now owns 94,193 shares of the company's stock worth $4,167,000 after buying an additional 37,158 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Valaris by 14.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 143,399 shares of the company's stock worth $6,344,000 after buying an additional 18,107 shares during the last quarter. Teza Capital Management LLC bought a new position in shares of Valaris in the 4th quarter worth about $923,000. Point72 Asset Management L.P. lifted its holdings in Valaris by 376.7% in the fourth quarter. Point72 Asset Management L.P. now owns 96,023 shares of the company's stock worth $4,248,000 after acquiring an additional 130,723 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Valaris by 38.4% during the fourth quarter. ProShare Advisors LLC now owns 20,430 shares of the company's stock valued at $904,000 after purchasing an additional 5,665 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

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.