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

Valaris (NYSE:VAL) had its price objective lowered by Barclays from $49.00 to $46.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other research analysts also recently commented on the company. Evercore ISI downgraded Valaris from an “outperform” rating to an “in-line” rating and reduced their price objective for the stock from $87.00 to $59.00 in a report on Wednesday, January 15th. StockNews.com upgraded Valaris to a “sell” rating in a report on Thursday, February 20th. Susquehanna lowered their price objective 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. started coverage on shares of Valaris in a research report on Friday, December 6th. They set an “underweight” rating and a $40.00 target price on the stock. Finally, Citigroup upped their price target on shares of Valaris from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $55.00.

Valaris Stock Down 5.4 %

Shares of VAL opened at $38.67 on Tuesday. The firm has a market capitalization of $2.75 billion, a P/E ratio of 7.52 and a beta of 1.10. Valaris has a 12-month low of $38.50 and a 12-month high of $84.20. The firm has a fifty day moving average price of $45.29 and a 200-day moving average price of $50.18. The company has a current ratio of 1.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.48.

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

Institutional Trading of Valaris

Several hedge funds have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Valaris by 14.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 143,399 shares of the company’s stock worth $6,344,000 after buying an additional 18,107 shares during the last quarter. Teza Capital Management LLC purchased a new position in Valaris in the fourth quarter worth $923,000. Point72 Asset Management L.P. increased its position in shares of Valaris by 376.7% during the fourth quarter. Point72 Asset Management L.P. now owns 96,023 shares of the company’s stock worth $4,248,000 after purchasing an additional 130,723 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Valaris by 38.4% during the 4th quarter. ProShare Advisors LLC now owns 20,430 shares of the company’s stock valued at $904,000 after purchasing an additional 5,665 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Valaris by 0.3% during the 4th quarter. Nuveen Asset Management LLC now owns 184,318 shares of the company’s stock valued at $8,154,000 after purchasing an additional 588 shares during the last quarter. 96.74% of the stock is owned by hedge funds and other 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.