Valaris (NYSE:VAL) Shares Down 6.3% – Time to Sell?

Valaris Limited (NYSE:VAL) traded down 6.3% on Tuesday . The company traded as low as $50.64 and last traded at $50.5080. 524,981 shares changed hands during trading, a decline of 66% from the average session volume of 1,528,930 shares. The stock had previously closed at $53.91.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Zacks Research upgraded Valaris from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. SEB Equity Research set a $45.50 target price on shares of Valaris in a research report on Monday, September 1st. Wall Street Zen raised Valaris from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Valaris in a research report on Wednesday, October 8th. Finally, BTIG Research upped their price target on Valaris from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, October 31st. One analyst has rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Valaris currently has an average rating of “Hold” and an average price target of $54.06.

Valaris Stock Performance

The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.44. The company’s 50-day moving average is $54.74 and its two-hundred day moving average is $50.04. The stock has a market capitalization of $3.49 billion, a P/E ratio of 8.91 and a beta of 1.16.

Valaris (NYSE:VAL) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $1.00 by $1.65. The company had revenue of $595.70 million for the quarter, compared to analyst estimates of $568.41 million. Valaris had a net margin of 16.51% and a return on equity of 17.27%. The business’s revenue was down 7.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Valaris Limited will post 3.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Blume Capital Management Inc. lifted its position in Valaris by 56.5% in the second quarter. Blume Capital Management Inc. now owns 665 shares of the company’s stock worth $28,000 after purchasing an additional 240 shares during the period. Fifth Third Bancorp lifted its holdings in Valaris by 77.9% in the 2nd quarter. Fifth Third Bancorp now owns 822 shares of the company’s stock valued at $35,000 after acquiring an additional 360 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Valaris by 50.5% during the 3rd quarter. UMB Bank n.a. now owns 778 shares of the company’s stock valued at $38,000 after purchasing an additional 261 shares in the last quarter. Signaturefd LLC grew its stake in shares of Valaris by 45.4% in the 2nd quarter. Signaturefd LLC now owns 916 shares of the company’s stock worth $39,000 after purchasing an additional 286 shares during the last quarter. Finally, Wexford Capital LP bought a new stake in shares of Valaris in the 3rd quarter worth approximately $41,000. 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.