Valaris (NYSE:VAL) Given New $46.00 Price Target at Barclays

Valaris (NYSE:VAL) had its price target cut by Barclays from $49.00 to $46.00 in a research report report published on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Susquehanna decreased their target price on shares of Valaris from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. JPMorgan Chase & Co. began coverage on Valaris in a research note on Friday, December 6th. They issued an “underweight” rating and a $40.00 price target for the company. StockNews.com upgraded Valaris to a “sell” rating in a research report on Thursday, February 20th. Citigroup boosted their price objective on Valaris from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Evercore ISI downgraded shares of Valaris from an “outperform” rating to an “in-line” rating and reduced their price target for the stock from $87.00 to $59.00 in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, Valaris currently has a consensus rating of “Hold” and an average target price of $55.00.

Valaris Stock Performance

NYSE VAL opened at $38.67 on Tuesday. Valaris has a fifty-two week low of $38.50 and a fifty-two week high of $84.20. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.61 and a current ratio of 1.59. The firm has a market capitalization of $2.75 billion, a P/E ratio of 7.52 and a beta of 1.10. The stock has a 50-day simple moving average of $45.29 and a two-hundred day simple moving average of $50.18.

Valaris (NYSE:VAL) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.68. Valaris had a return on equity of 17.40% and a net margin of 15.81%. The company had revenue of $584.40 million during the quarter, compared to analysts’ expectations of $578.01 million. On average, equities analysts forecast that Valaris will post 3.96 earnings per share for the current year.

Institutional Investors Weigh In On Valaris

A number of hedge funds have recently modified their holdings of VAL. Quarry LP grew its stake in Valaris by 51.7% during the 4th quarter. Quarry LP now owns 684 shares of the company’s stock valued at $30,000 after acquiring an additional 233 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Valaris by 1.3% during the 4th quarter. Arizona State Retirement System now owns 19,002 shares of the company’s stock worth $841,000 after purchasing an additional 237 shares during the last quarter. Xponance Inc. grew its position in shares of Valaris by 5.5% in the fourth quarter. Xponance Inc. now owns 9,273 shares of the company’s stock valued at $410,000 after purchasing an additional 487 shares in the last quarter. State of Michigan Retirement System increased its holdings in shares of Valaris by 3.3% in the fourth quarter. State of Michigan Retirement System now owns 15,500 shares of the company’s stock valued at $686,000 after purchasing an additional 500 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Valaris by 41.0% during the fourth quarter. Blue Trust Inc. now owns 1,758 shares of the company’s stock worth $78,000 after buying an additional 511 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

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.