Valaris (NYSE:VAL) Given New $47.00 Price Target at Susquehanna

Valaris (NYSE:VAL) had its target price reduced by Susquehanna from $50.00 to $47.00 in a research report report published on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages also recently commented on VAL. Evercore ISI downgraded Valaris from an “outperform” rating to an “in-line” rating and lowered their target price for the stock from $87.00 to $59.00 in a research note on Wednesday, January 15th. Barclays reissued an “equal weight” rating and issued a $49.00 price target (down from $59.00) on shares of Valaris in a report on Wednesday, December 18th. JPMorgan Chase & Co. started coverage on shares of Valaris in a research note on Friday, December 6th. They set an “underweight” rating and a $40.00 price objective on the stock. StockNews.com upgraded shares of Valaris to a “sell” rating in a research note on Thursday. Finally, Citigroup raised their price target on shares of Valaris from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $55.50.

Valaris Price Performance

Shares of NYSE:VAL opened at $41.80 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.48. Valaris has a twelve month low of $39.90 and a twelve month high of $84.20. The company’s 50 day moving average is $45.42 and its 200 day moving average is $50.70. The company has a market cap of $2.97 billion, a PE ratio of 8.13 and a beta of 1.10.

Valaris (NYSE:VAL) last released its quarterly earnings data on Wednesday, February 19th. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.68. The firm 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%. On average, sell-side analysts forecast that Valaris will post 3.96 EPS for the current year.

Institutional Investors Weigh In On Valaris

Several institutional investors and hedge funds have recently added to or reduced their stakes in VAL. Creative Planning grew its position in shares of Valaris by 20.4% in the third quarter. Creative Planning now owns 10,350 shares of the company’s stock valued at $577,000 after purchasing an additional 1,751 shares during the period. Private Advisor Group LLC lifted its stake in Valaris by 22.5% in the 3rd quarter. Private Advisor Group LLC now owns 5,524 shares of the company’s stock valued at $308,000 after buying an additional 1,015 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in Valaris by 5.1% in the 3rd quarter. Louisiana State Employees Retirement System now owns 18,500 shares of the company’s stock worth $1,031,000 after buying an additional 900 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Valaris by 14.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 7,735 shares of the company’s stock worth $431,000 after buying an additional 965 shares during the last quarter. Finally, Diversify Advisory Services LLC increased its stake in 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 in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

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.