Valaris (NYSE:VAL) Hits New 1-Year Low at $58.28

Shares of Valaris Limited (NYSE:VAL) hit a new 52-week low during trading on Tuesday . The company traded as low as $58.28 and last traded at $58.46, with a volume of 232041 shares trading hands. The stock had previously closed at $61.06.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VAL. Barclays lowered their price objective on shares of Valaris from $98.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Benchmark reiterated a “buy” rating and set a $90.00 price target on shares of Valaris in a report on Monday, August 5th. Finally, Pickering Energy Partners lowered Valaris from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Valaris currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.80.

Valaris Stock Performance

The stock has a market capitalization of $4.11 billion, a P/E ratio of 4.95 and a beta of 1.17. The company’s fifty day simple moving average is $69.52 and its two-hundred day simple moving average is $70.65. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.73 and a current ratio of 1.73.

Valaris (NYSE:VAL) last announced its earnings results on Wednesday, July 31st. The company reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $1.07. The company had revenue of $610.10 million for the quarter, compared to analyst estimates of $545.00 million. Valaris had a return on equity of 12.58% and a net margin of 49.33%. As a group, equities analysts forecast that Valaris Limited will post 4.37 EPS for the current year.

Institutional Investors Weigh In On Valaris

A number of hedge funds and other institutional investors have recently modified their holdings of VAL. SeaCrest Wealth Management LLC increased its position in Valaris by 1.0% during the first quarter. SeaCrest Wealth Management LLC now owns 16,124 shares of the company’s stock worth $1,213,000 after acquiring an additional 152 shares during the period. Smith Anglin Financial LLC increased 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 worth $281,000 after purchasing an additional 190 shares during the period. Insight Wealth Strategies LLC raised its holdings in 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 in the last quarter. Arizona State Retirement System raised its stake in 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 purchasing an additional 214 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Valaris by 180.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $27,000 after buying an additional 235 shares in the last quarter. Institutional investors and hedge funds 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.