Brokerages Set Valaris Limited (NYSE:VAL) Price Target at $56.83

Valaris Limited (NYSE:VAL - Get Free Report) has been given a consensus recommendation of "Reduce" by the seven brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $55.50.

Several equities analysts have recently commented on the company. Evercore ISI lowered Valaris from an "outperform" rating to an "in-line" rating and decreased their price target for the company from $87.00 to $59.00 in a research note on Wednesday, January 15th. Barclays reissued an "equal weight" rating and set a $49.00 target price (down previously from $59.00) on shares of Valaris in a research note on Wednesday, December 18th. StockNews.com raised Valaris to a "sell" rating in a research note on Thursday. Susquehanna decreased their target price on Valaris from $50.00 to $47.00 and set a "neutral" rating on the stock in a research note on Friday. Finally, Citigroup increased their target price on Valaris from $47.00 to $48.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th.

Valaris Trading Down 6.2 %

Shares of Valaris stock traded down $2.76 during trading hours on Thursday, hitting $41.80. The company's stock had a trading volume of 2,742,356 shares, compared to its average volume of 1,506,305. Valaris has a twelve month low of $39.90 and a twelve month high of $84.20. The firm has a fifty day moving average of $45.42 and a 200-day moving average of $50.62. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 8.13 and a beta of 1.10. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.61 and a current ratio of 1.59.

Valaris (NYSE:VAL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.20 by $0.68. Valaris had a return on equity of 17.40% and a net margin of 15.81%. The business had revenue of $584.40 million for the quarter, compared to analyst estimates of $578.01 million. Research analysts forecast that Valaris will post 3.96 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Centiva Capital LP purchased a new position in Valaris during the 3rd quarter worth approximately $930,000. XTX Topco Ltd purchased a new position in Valaris during the 3rd quarter worth approximately $1,862,000. Diversify Advisory Services LLC grew its stake in Valaris by 14.8% during the 3rd quarter. Diversify Advisory Services LLC now owns 137,572 shares of the company's stock worth $7,670,000 after buying an additional 17,690 shares during the last quarter. Waverton Investment Management Ltd grew its stake in Valaris by 20.4% during the 3rd quarter. Waverton Investment Management Ltd now owns 670,885 shares of the company's stock worth $37,412,000 after buying an additional 113,509 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its stake in Valaris by 19.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 31,391 shares of the company's stock worth $1,750,000 after buying an additional 5,184 shares during the last quarter. Hedge funds and other 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.