Citigroup Lowers Valaris (NYSE:VAL) Price Target to $44.00

Valaris (NYSE:VAL - Free Report) had its price target trimmed by Citigroup from $48.00 to $44.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages also recently weighed in on VAL. StockNews.com raised Valaris to a "sell" rating in a research report on Thursday, February 20th. Evercore ISI cut shares of Valaris from an "outperform" rating to an "in-line" rating and lowered their price target for the company from $87.00 to $59.00 in a report on Wednesday, January 15th. Susquehanna cut their price objective on shares of Valaris from $50.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Barclays decreased their target price on shares of Valaris from $49.00 to $46.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Valaris in a research note on Friday, December 6th. They issued an "underweight" rating and a $40.00 target price for the company. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $54.33.

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Valaris Stock Down 1.7 %

NYSE VAL traded down $0.68 during trading on Wednesday, reaching $39.68. 1,774,690 shares of the company's stock traded hands, compared to its average volume of 1,317,477. The company's 50 day simple moving average is $43.07 and its two-hundred day simple moving average is $47.05. Valaris has a 12-month low of $31.15 and a 12-month high of $84.20. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 7.72 and a beta of 1.16. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.59 and a quick ratio of 1.61.

Valaris (NYSE:VAL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.68. The company had revenue of $584.40 million during the quarter, compared to the consensus estimate of $578.01 million. Valaris had a net margin of 15.81% and a return on equity of 17.40%. As a group, sell-side analysts forecast that Valaris will post 3.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new stake in shares of Valaris during the third quarter worth $25,000. Sterling Capital Management LLC lifted its position in Valaris by 518.3% during the 4th quarter. Sterling Capital Management LLC now owns 742 shares of the company's stock worth $33,000 after acquiring an additional 622 shares during the period. Signaturefd LLC lifted its position in Valaris by 395.0% during the 4th quarter. Signaturefd LLC now owns 1,475 shares of the company's stock worth $65,000 after acquiring an additional 1,177 shares during the period. Blue Trust Inc. grew its stake in Valaris by 41.0% during the 4th quarter. Blue Trust Inc. now owns 1,758 shares of the company's stock valued at $78,000 after purchasing an additional 511 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of Valaris by 326.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,874 shares of the company's stock valued at $83,000 after purchasing an additional 1,435 shares during the period. Institutional investors and hedge funds own 96.74% of the company's stock.

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.