Valaris Limited (NYSE:VAL) Stock Has Average Price Target of $67.80

Shares of Valaris Limited (NYSE:VAL) have received an average recommendation of “Reduce” from the seven brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $67.80.

A number of brokerages recently weighed in on VAL. Susquehanna boosted their target price on shares of Valaris from $80.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, October 5th. Weiss Ratings raised shares of Valaris from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 17th.

Valaris Stock Down 1.1%

NYSE:VAL opened at $83.80 on Tuesday. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 6.26 and a beta of 1.04. Valaris has a twelve month low of $47.37 and a twelve month high of $114.12. The stock’s 50 day moving average price is $84.42 and its two-hundred day moving average price is $86.86. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.34.

Valaris (NYSE:VAL) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.41. The company had revenue of $539.20 million for the quarter, compared to analysts’ expectations of $488.52 million. Valaris had a return on equity of 9.25% and a net margin of 43.95%. The business’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.61 EPS. Equities research analysts expect that Valaris will post 3.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of VAL. DV Trading LLC raised its holdings in shares of Valaris by 5,533.3% in the 1st quarter. DV Trading LLC now owns 16,900 shares of the company’s stock valued at $1,657,000 after purchasing an additional 16,600 shares during the period. Whitebox Advisors LLC acquired a new stake in Valaris in the 1st quarter valued at about $57,249,000. HBK Investments L P bought a new position in Valaris during the second quarter worth about $114,355,000. Quantitative Investment Management LLC bought a new position in Valaris during the second quarter worth about $871,000. Finally, Gallacher Capital Management LLC bought a new position in Valaris during the first quarter worth about $1,284,000. Institutional investors own 96.74% of the company’s stock.

About Valaris

Valaris Limited (NYSE: VAL) is an offshore drilling contractor that provides drilling services to oil and gas companies worldwide. The company operates a fleet of offshore rigs, including drillships, semisubmersible rigs and jackup rigs, used to explore for and develop offshore energy resources.

Its services support drilling programs in a range of offshore environments, from shallow-water projects using jackup rigs to deepwater and ultra-deepwater operations using drillships and semisubmersible rigs.