Valaris (NYSE:VAL) Shares Break Below Two Hundred Day Moving Average – Time to Sell?

Valaris Limited (NYSE:VAL) shares crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $86.19 and traded as low as $82.14. Valaris shares last traded at $82.9720, with a volume of 1,273,088 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VAL. Wall Street Zen downgraded shares of Valaris from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Susquehanna increased their price objective on shares of Valaris from $86.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Weiss Ratings raised shares of Valaris from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 17th. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $76.33.

Valaris Stock Performance

The company has a quick ratio of 1.55, a current ratio of 1.64 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of 7.28 and a beta of 1.03. The business has a 50-day moving average price of $86.72 and a 200-day moving average price of $86.19.

Valaris (NYSE:VAL) last issued its earnings results on Monday, November 2nd. The company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.40). The firm had revenue of $593.60 million during the quarter, compared to analysts’ expectations of $562.70 million. Valaris had a return on equity of 4.23% and a net margin of 37.35%. The business’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the business earned $2.65 EPS. As a group, sell-side analysts forecast that Valaris Limited will post 3.25 earnings per share for the current year.

Institutional Investors Weigh In On Valaris

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in shares of Valaris by 3.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,349,443 shares of the company’s stock valued at $328,382,000 after buying an additional 114,730 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Valaris by 67.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,363,230 shares of the company’s stock worth $133,651,000 after purchasing an additional 550,987 shares in the last quarter. Goehring & Rozencwajg Associates LLC grew its stake in shares of Valaris by 24.2% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,319,351 shares of the company’s stock worth $129,349,000 after purchasing an additional 257,281 shares during the period. HBK Investments L P acquired a new position in shares of Valaris during the 2nd quarter worth $114,355,000. Finally, Whitebox Advisors LLC purchased a new position in shares of Valaris in the 1st quarter valued at about $57,249,000. 96.74% of the stock is owned by institutional investors and hedge funds.

About Valaris

Valaris plc is an offshore contract drilling company that provides drilling services to oil and gas operators worldwide. The company works with customers to support offshore exploration, appraisal and development programs in shallow-water and deepwater environments.

Valaris operates a fleet that includes drillships, semisubmersible rigs and jackup rigs. Its services include mobile offshore drilling, well construction support and related rig-management and operational services. The company’s fleet is designed to serve a range of offshore projects, from conventional shelf developments to technically demanding deepwater wells.

With operations spanning major offshore energy regions, Valaris has served customers in areas including the Gulf of Mexico, the North Sea, Brazil, West Africa, the Middle East and the Asia-Pacific region.