Benchmark reissued their buy rating on shares of Valaris (NYSE:VAL – Free Report) in a research report report published on Thursday, Benzinga reports. The firm currently has a $90.00 target price on the stock.
A number of other research analysts have also issued reports on VAL. Barclays lowered their target price on Valaris from $105.00 to $102.00 and set an overweight rating on the stock in a report on Tuesday, March 5th. StockNews.com raised shares of Valaris to a sell rating in a research note on Friday, April 26th. Evercore ISI cut their target price on Valaris from $107.00 to $105.00 and set an outperform rating on the stock in a research report on Friday, February 23rd. Finally, TheStreet raised Valaris from a c rating to a b- rating in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $100.00.
Valaris Price Performance
Shares of NYSE:VAL traded up $0.99 during trading on Thursday, reaching $65.05. The company had a trading volume of 1,950,477 shares, compared to its average volume of 892,180. The firm’s fifty day moving average is $69.79 and its 200 day moving average is $67.92. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.71 and a current ratio of 1.71. The firm has a market capitalization of $4.71 billion, a PE ratio of 5.56 and a beta of 1.20. Valaris has a twelve month low of $54.13 and a twelve month high of $78.92.
Valaris (NYSE:VAL – Get Free Report) last released its earnings results on Wednesday, May 1st. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). Valaris had a return on equity of 5.71% and a net margin of 48.50%. The firm had revenue of $525.00 million during the quarter, compared to analyst estimates of $503.00 million. On average, equities analysts forecast that Valaris will post 4.75 EPS for the current year.
Institutional Investors Weigh In On Valaris
Several hedge funds have recently modified their holdings of the business. FMR LLC lifted its stake in shares of Valaris by 31.8% in the third quarter. FMR LLC now owns 3,812,867 shares of the company’s stock valued at $285,889,000 after buying an additional 919,123 shares during the period. Norges Bank acquired a new stake in shares of Valaris during the 4th quarter worth approximately $43,282,000. Lancaster Investment Management bought a new stake in shares of Valaris during the fourth quarter valued at approximately $27,436,000. Bank Pictet & Cie Europe AG bought a new stake in shares of Valaris during the third quarter valued at approximately $27,063,000. Finally, Principal Financial Group Inc. raised its stake in shares of Valaris by 157.1% in the third quarter. Principal Financial Group Inc. now owns 587,780 shares of the company’s stock valued at $44,072,000 after purchasing an additional 359,168 shares in the last quarter. 96.74% of the stock is owned by 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.