Valaris (NYSE:VAL – Get Free Report) had its target price cut by equities research analysts at Citigroup from $95.00 to $71.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 30.97% from the company’s previous close.
A number of other equities research analysts have also weighed in on the company. Benchmark reaffirmed a “buy” rating and set a $90.00 target price on shares of Valaris in a research report on Monday, August 5th. Barclays lowered their price objective on shares of Valaris from $98.00 to $91.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Finally, Pickering Energy Partners downgraded shares of Valaris from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $91.40.
Valaris Trading Down 0.5 %
Shares of VAL traded down $0.25 during trading hours on Thursday, reaching $54.21. 810,590 shares of the company traded hands, compared to its average volume of 974,802. The stock’s fifty day moving average price is $67.74 and its 200 day moving average price is $70.29. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.49. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 4.74 and a beta of 1.17. Valaris has a 12-month low of $53.06 and a 12-month high of $84.20.
Valaris (NYSE:VAL – Get Free Report) last released its quarterly earnings data 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. The company had revenue of $610.10 million during the quarter, compared to analysts’ expectations of $545.00 million. Valaris had a net margin of 49.33% and a return on equity of 12.58%. Sell-side analysts forecast that Valaris will post 4.37 earnings per share for the current year.
Insider Activity at Valaris
In other Valaris news, SVP Davor Vukadin sold 15,403 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $56.64, for a total transaction of $872,425.92. Following the completion of the sale, the senior vice president now directly owns 13,334 shares of the company’s stock, valued at $755,237.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Davor Vukadin sold 15,403 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $56.64, for a total transaction of $872,425.92. Following the transaction, the senior vice president now directly owns 13,334 shares of the company’s stock, valued at $755,237.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Gilles Luca sold 30,000 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $56.86, for a total value of $1,705,800.00. Following the completion of the sale, the chief operating officer now directly owns 108,342 shares of the company’s stock, valued at approximately $6,160,326.12. The disclosure for this sale can be found here. 0.12% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Valaris
Large investors have recently modified their holdings of the business. SeaCrest Wealth Management LLC grew its position in Valaris by 1.0% during the 1st quarter. SeaCrest Wealth Management LLC now owns 16,124 shares of the company’s stock worth $1,213,000 after purchasing an additional 152 shares during the last quarter. Smith Anglin Financial LLC grew its holdings in shares of Valaris by 5.4% during the first quarter. Smith Anglin Financial LLC now owns 3,740 shares of the company’s stock valued at $281,000 after buying an additional 190 shares during the last quarter. Insight Wealth Strategies LLC increased its position in shares of Valaris by 3.0% in the 1st quarter. Insight Wealth Strategies LLC now owns 7,119 shares of the company’s stock valued at $536,000 after acquiring an additional 210 shares during the period. Arizona State Retirement System raised its stake in Valaris by 1.2% in the 2nd quarter. Arizona State Retirement System now owns 18,244 shares of the company’s stock worth $1,359,000 after acquiring an additional 214 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Valaris by 180.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $27,000 after acquiring an additional 235 shares during the period. Hedge funds and other institutional investors 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.