Citigroup Lowers Valaris (NYSE:VAL) Price Target to $58.00

Valaris (NYSE:VAL) had its price target trimmed by Citigroup from $71.00 to $58.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also weighed in on VAL. Benchmark lowered shares of Valaris from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Barclays cut their target price on shares of Valaris from $61.00 to $59.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, Susquehanna cut their target price on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $73.40.

Valaris Trading Up 1.4 %

Shares of NYSE:VAL opened at $46.19 on Wednesday. The company has a 50 day moving average of $51.02 and a 200-day moving average of $62.87. The firm has a market cap of $3.29 billion, a P/E ratio of 3.17 and a beta of 1.17. Valaris has a twelve month low of $45.42 and a twelve month high of $84.20. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.51.

Insider Buying and Selling at Valaris

In other Valaris news, COO Gilles Luca sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $56.86, for a total value of $1,705,800.00. Following the transaction, the chief operating officer now owns 108,342 shares in the company, valued at approximately $6,160,326.12. This represents a 21.69 % 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 that occurred on 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 transaction, the senior vice president now owns 13,334 shares in the company, valued at approximately $755,237.76. This represents a 53.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,403 shares of company stock worth $4,028,246. 0.12% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Virtu Financial LLC acquired a new position in shares of Valaris during the 1st quarter worth $582,000. Diversify Advisory Services LLC boosted its holdings in shares of 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 buying an additional 17,690 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Valaris during the 2nd quarter worth $3,652,000. State of New Jersey Common Pension Fund D boosted its holdings in shares of Valaris by 19.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 31,391 shares of the company’s stock worth $1,750,000 after buying an additional 5,184 shares during the period. Finally, Waverton Investment Management Ltd boosted its holdings in shares of Valaris by 20.4% during the 3rd quarter. Waverton Investment Management Ltd now owns 670,885 shares of the company’s stock worth $37,412,000 after buying an additional 113,509 shares during the period. 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.