Valaris Limited (NYSE:VAL) Receives $55.00 Consensus Target Price from Analysts

Shares of Valaris Limited (NYSE:VAL) have received an average rating of “Reduce” from the seven research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $54.33.

Several research firms recently issued reports on VAL. Barclays cut their price objective on Valaris from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 25th. Susquehanna cut their price objective on Valaris from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. StockNews.com upgraded Valaris to a “sell” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. began coverage on Valaris in a report on Friday, December 6th. They issued an “underweight” rating and a $40.00 price objective on the stock. Finally, Citigroup cut their price objective on Valaris from $48.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th.

Institutional Investors Weigh In On Valaris

Several large investors have recently bought and sold shares of VAL. Dimensional Fund Advisors LP increased its holdings in Valaris by 55.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,300,577 shares of the company’s stock worth $101,771,000 after purchasing an additional 821,304 shares during the period. Norges Bank purchased a new position in shares of Valaris in the 4th quarter valued at about $31,949,000. Condire Management LP increased its holdings in shares of Valaris by 34.1% in the 4th quarter. Condire Management LP now owns 2,618,678 shares of the company’s stock valued at $115,850,000 after acquiring an additional 665,718 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Valaris in the 4th quarter valued at about $21,747,000. Finally, AQR Capital Management LLC increased its holdings in shares of Valaris by 942.1% in the 4th quarter. AQR Capital Management LLC now owns 381,463 shares of the company’s stock valued at $16,502,000 after acquiring an additional 344,857 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Valaris Stock Performance

Shares of Valaris stock opened at $39.68 on Monday. Valaris has a 52 week low of $31.15 and a 52 week high of $84.20. The business’s fifty day simple moving average is $43.07 and its 200-day simple moving average is $47.05. The firm has a market cap of $2.82 billion, a PE ratio of 7.72 and a beta of 1.16. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48.

Valaris (NYSE:VAL) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $1.88 EPS 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 business had revenue of $584.40 million for the quarter, compared to analyst estimates of $578.01 million. Equities analysts forecast that Valaris will post 3.96 earnings per share for the current year.

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.