Valaris (NYSE:VAL) Price Target Cut to $61.00

Valaris (NYSE:VAL - Get Free Report) had its target price cut by equities researchers at Barclays from $91.00 to $61.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's target price would indicate a potential upside of 23.87% from the stock's previous close.

Several other analysts have also recently issued reports on VAL. Citigroup cut their target price on Valaris from $95.00 to $71.00 and set a "buy" rating on the stock in a research note on Thursday, September 12th. Benchmark lowered Valaris from a "buy" rating to a "hold" rating in a research note on Tuesday, October 15th. Pickering Energy Partners lowered shares of Valaris from an "outperform" rating to a "neutral" rating in a report on Tuesday, July 16th. Finally, Susquehanna reduced their price target on shares of Valaris from $62.00 to $61.00 and set a "neutral" rating on the stock in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $81.33.

Valaris Trading Down 2.2 %

VAL traded down $1.11 on Wednesday, hitting $49.25. 1,282,222 shares of the company were exchanged, compared to its average volume of 1,014,634. 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 has a 12 month low of $48.63 and a 12 month high of $84.20. The firm has a fifty day simple moving average of $56.56 and a two-hundred day simple moving average of $66.98. The stock has a market capitalization of $3.57 billion, a PE ratio of 4.31 and a beta of 1.15.

Valaris (NYSE:VAL - Get Free Report) last issued its earnings results on Wednesday, July 31st. The company reported $2.03 EPS for the quarter, topping the consensus estimate of $0.96 by $1.07. The company had revenue of $610.10 million for the quarter, compared to the consensus estimate of $545.00 million. Valaris had a net margin of 49.33% and a return on equity of 12.58%. Sell-side analysts expect that Valaris will post 4.37 earnings per share for the current year.

Insider Activity at Valaris

In other news, SVP Davor Vukadin sold 15,403 shares of Valaris stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $56.64, for a total value of $872,425.92. Following the completion of the transaction, the senior vice president now owns 13,334 shares of the company's stock, valued at $755,237.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Davor Vukadin sold 15,403 shares of the company's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $56.64, for a total value of $872,425.92. Following the transaction, the senior vice president now directly owns 13,334 shares of the company's stock, valued at approximately $755,237.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Matthew Lyne sold 26,000 shares of Valaris stock in a transaction on Monday, September 30th. The stock was sold at an average price of $55.77, for a total value of $1,450,020.00. Following the completion of the sale, the senior vice president now directly owns 24,388 shares of the company's stock, valued at approximately $1,360,118.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,403 shares of company stock valued at $4,028,246 in the last 90 days. Corporate insiders own 0.12% of the company's stock.

Institutional Investors Weigh In On Valaris

A number of large investors have recently added to or reduced their stakes in VAL. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Valaris in the second quarter worth $28,884,000. Dimensional Fund Advisors LP increased its position in shares of Valaris by 23.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company's stock valued at $88,573,000 after purchasing an additional 225,283 shares during the last quarter. Condire Management LP lifted its stake in shares of Valaris by 14.7% in the 1st quarter. Condire Management LP now owns 1,452,097 shares of the company's stock worth $109,285,000 after purchasing an additional 186,076 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Valaris by 338.5% in the second quarter. AQR Capital Management LLC now owns 236,379 shares of the company's stock worth $17,426,000 after buying an additional 182,467 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in Valaris during the second quarter valued at approximately $13,306,000. Institutional investors 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.