Valaris Limited (NYSE:VAL) Receives Average Rating of “Reduce” from Brokerages

Valaris Limited (NYSE:VAL) has received an average rating of “Reduce” from the seven brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $55.00.

A number of analysts have recently weighed in on the stock. Evercore ISI downgraded shares of Valaris from an “outperform” rating to an “in-line” rating and reduced their target price for the stock from $87.00 to $59.00 in a research report on Wednesday, January 15th. JPMorgan Chase & Co. assumed coverage on shares of Valaris in a research report on Friday, December 6th. They issued an “underweight” rating and a $40.00 target price on the stock. Barclays reduced their target price on shares of Valaris from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 25th. Susquehanna reduced their target price on shares of Valaris from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Finally, StockNews.com raised shares of Valaris to a “sell” rating in a research report on Thursday, February 20th.

Valaris Stock Up 5.7 %

Shares of NYSE VAL opened at $38.39 on Monday. 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 12 month low of $31.15 and a 12 month high of $84.20. The firm has a market capitalization of $2.73 billion, a PE ratio of 7.47 and a beta of 1.16. The firm has a fifty day simple moving average of $43.66 and a two-hundred day simple moving average of $47.74.

Valaris (NYSE:VAL) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.20 by $0.68. The business had revenue of $584.40 million during 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%. Equities analysts expect that Valaris will post 3.96 earnings per share for the current year.

Institutional Trading of Valaris

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Valaris by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 6,454,159 shares of the company’s stock valued at $285,532,000 after acquiring an additional 23,509 shares during the last quarter. Lingotto Investment Management LLP boosted its holdings in shares of Valaris by 2.5% during the 4th quarter. Lingotto Investment Management LLP now owns 3,637,207 shares of the company’s stock valued at $160,910,000 after acquiring an additional 87,420 shares during the last quarter. Condire Management LP boosted its holdings in shares of Valaris by 34.1% during the 4th quarter. Condire Management LP now owns 2,618,678 shares of the company’s stock valued at $115,850,000 after acquiring an additional 665,718 shares during the last quarter. State Street Corp boosted its holdings in shares of Valaris by 4.8% during the 3rd quarter. State Street Corp now owns 2,446,006 shares of the company’s stock valued at $136,365,000 after acquiring an additional 112,216 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Valaris by 55.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,300,577 shares of the company’s stock valued at $101,771,000 after acquiring an additional 821,304 shares during the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

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.