Valaris (NYSE:VAL) Given New $55.00 Price Target at Susquehanna

Valaris (NYSE:VAL) had its target price reduced by equities researchers at Susquehanna from $61.00 to $55.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Susquehanna’s target price points to a potential upside of 13.57% from the company’s previous close.

Several other analysts have also issued reports on VAL. Benchmark lowered Valaris from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Barclays lowered their price objective on Valaris from $91.00 to $61.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Pickering Energy Partners lowered shares of Valaris from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 16th. Finally, Citigroup dropped their price target on shares of Valaris from $95.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Valaris presently has an average rating of “Hold” and a consensus target price of $80.33.

Valaris Stock Performance

Shares of VAL stock opened at $48.43 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 1.61. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 3.33 and a beta of 1.17. Valaris has a 52 week low of $48.04 and a 52 week high of $84.20. The firm’s 50-day simple moving average is $54.53 and its two-hundred day simple moving average is $65.79.

Valaris (NYSE:VAL) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $1.07. Valaris had a net margin of 47.52% and a return on equity of 13.67%. The company had revenue of $610.10 million for the quarter, compared to analysts’ expectations of $545.00 million. As a group, equities analysts forecast that Valaris will post 4.37 earnings per share for the current year.

Insider Transactions at Valaris

In related news, COO Gilles Luca sold 30,000 shares of the 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 transaction, the chief operating officer now owns 108,342 shares of the company’s stock, valued at $6,160,326.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Gilles Luca sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were 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 in the company, valued at approximately $6,160,326.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Matthew Lyne sold 26,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $55.77, for a total transaction of $1,450,020.00. Following the completion of the sale, the senior vice president now directly owns 24,388 shares of the company’s stock, valued at $1,360,118.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,403 shares of company stock valued at $4,028,246. Insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Valaris

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System increased its position in shares of Valaris by 1.2% in the second quarter. Arizona State Retirement System now owns 18,244 shares of the company’s stock valued at $1,359,000 after acquiring an additional 214 shares during the period. EverSource Wealth Advisors LLC raised its position in Valaris by 180.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $27,000 after purchasing an additional 235 shares during the last quarter. World Equity Group Inc. lifted its holdings in Valaris by 1.9% in the 2nd quarter. World Equity Group Inc. now owns 12,827 shares of the company’s stock worth $956,000 after buying an additional 238 shares during the period. Victory Capital Management Inc. grew its position in shares of Valaris by 5.0% in the 2nd quarter. Victory Capital Management Inc. now owns 5,080 shares of the company’s stock worth $378,000 after buying an additional 243 shares during the last quarter. Finally, Deane Retirement Strategies Inc. increased its stake in shares of Valaris by 0.6% during the third quarter. Deane Retirement Strategies Inc. now owns 40,504 shares of the company’s stock valued at $2,259,000 after buying an additional 251 shares during the period. 96.74% of the stock is currently owned by institutional investors.

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.