Susquehanna Cuts Valaris (NYSE:VAL) Price Target to $34.00

Valaris (NYSE:VAL - Free Report) had its price objective trimmed by Susquehanna from $47.00 to $34.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts have also recently issued reports on VAL. Citigroup decreased their price target on shares of Valaris from $48.00 to $44.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Evercore ISI cut Valaris from an "outperform" rating to an "in-line" rating and reduced their target price for the company from $87.00 to $59.00 in a research note on Wednesday, January 15th. StockNews.com upgraded shares of Valaris to a "sell" rating in a research report on Thursday, February 20th. Finally, Barclays dropped their price objective on shares of Valaris from $46.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $50.33.

Valaris Stock Performance

VAL traded up $1.80 on Monday, hitting $31.90. 1,360,626 shares of the company traded hands, compared to its average volume of 1,463,812. Valaris has a 12-month low of $27.15 and a 12-month high of $84.20. The company has a 50 day moving average of $37.13 and a 200-day moving average of $44.02. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $2.27 billion, a PE ratio of 6.21 and a beta of 1.06.

Valaris (NYSE:VAL - Get Free Report) last announced 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 for 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%. Sell-side analysts anticipate that Valaris will post 3.96 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in VAL. Lingotto Investment Management LLP grew its position in Valaris by 2.5% in the 4th quarter. Lingotto Investment Management LLP now owns 3,637,207 shares of the company's stock worth $160,910,000 after purchasing an additional 87,420 shares during the last quarter. Aigen Investment Management LP bought a new position in Valaris in the 4th quarter valued at $611,000. Hosking Partners LLP grew its holdings in Valaris by 33.6% during the 4th quarter. Hosking Partners LLP now owns 341,842 shares of the company's stock worth $15,123,000 after acquiring an additional 85,891 shares during the last quarter. Waverton Investment Management Ltd raised its position in Valaris by 12.7% in the 4th quarter. Waverton Investment Management Ltd now owns 756,135 shares of the company's stock worth $33,451,000 after purchasing an additional 85,250 shares during the last quarter. Finally, Tejara Capital Ltd increased its position in Valaris by 93.0% in the fourth quarter. Tejara Capital Ltd now owns 112,405 shares of the company's stock worth $4,973,000 after purchasing an additional 54,173 shares during the period. Institutional investors and hedge funds 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.