Valaris (NYSE:VAL) Shares Gap Down – Here’s What Happened

Valaris Limited (NYSE:VAL) shares gapped down prior to trading 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.

Wall Street Analyst Weigh In

A number of analysts have recently commented on VAL shares. Benchmark downgraded Valaris from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Citigroup dropped 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. Pickering Energy Partners lowered shares of Valaris from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 16th. Barclays lowered their target price on Valaris from $91.00 to $61.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Susquehanna reduced their price target on Valaris from $62.00 to $61.00 and set a “neutral” rating for the company in a report on Friday, October 11th. One research 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. Based on data from MarketBeat.com, Valaris currently has a consensus rating of “Hold” and an average target price of $81.33.

Valaris Stock Performance

The firm’s fifty day moving average price is $55.77 and its 200-day moving average price is $66.50. The company has a market cap of $3.61 billion, a P/E ratio of 3.67 and a beta of 1.15. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.49.

Valaris (NYSE:VAL) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $1.07. Valaris had a return on equity of 12.58% and a net margin of 49.33%. The firm had revenue of $610.10 million for the quarter, compared to analyst estimates of $545.00 million. As a group, research analysts forecast that Valaris Limited will post 4.37 EPS for the current fiscal year.

Insider Activity at Valaris

In other Valaris news, SVP Matthew Lyne sold 26,000 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $55.77, for a total value of $1,450,020.00. Following the sale, the senior vice president now owns 24,388 shares of the company’s stock, valued at $1,360,118.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Matthew Lyne sold 26,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $55.77, for a total transaction of $1,450,020.00. Following the completion of the transaction, the senior vice president now owns 24,388 shares in the company, valued at $1,360,118.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Gilles Luca sold 30,000 shares of the business’s stock in a transaction on 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 completion of the sale, the chief operating officer now owns 108,342 shares in the company, valued at $6,160,326.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,403 shares of company stock worth $4,028,246. 0.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Valaris during the second quarter worth $28,884,000. Dimensional Fund Advisors LP lifted its stake in Valaris by 23.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company’s stock valued at $88,573,000 after buying an additional 225,283 shares during the period. Condire Management LP boosted its stake in Valaris by 14.7% during the 1st quarter. Condire Management LP now owns 1,452,097 shares of the company’s stock worth $109,285,000 after acquiring an additional 186,076 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Valaris by 338.5% in the 2nd quarter. AQR Capital Management LLC now owns 236,379 shares of the company’s stock valued at $17,426,000 after buying an additional 182,467 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in Valaris during the 2nd quarter worth $13,306,000. 96.74% of the stock is owned by institutional investors and hedge funds.

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.