Barclays Issues Pessimistic Forecast for Valaris (NYSE:VAL) Stock Price

Valaris (NYSE:VAL - Free Report) had its price objective lowered by Barclays from $49.00 to $46.00 in a report released on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research firms have also issued reports on VAL. StockNews.com upgraded shares of Valaris to a "sell" rating in a report on Thursday, February 20th. Susquehanna cut their target price on Valaris from $50.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. JPMorgan Chase & Co. started coverage on Valaris in a research note on Friday, December 6th. They set an "underweight" rating and a $40.00 target price for the company. Citigroup boosted their price target on Valaris from $47.00 to $48.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. Finally, Evercore ISI downgraded shares of 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 research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $55.00.

Valaris Trading Down 2.6 %

VAL traded down $0.95 during midday trading on Tuesday, hitting $35.69. 3,176,247 shares of the company were exchanged, compared to its average volume of 1,785,565. The firm has a market capitalization of $2.54 billion, a P/E ratio of 6.94 and a beta of 1.10. The firm's 50 day moving average price is $45.12 and its 200-day moving average price is $49.99. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48. Valaris has a 1-year low of $35.40 and a 1-year high of $84.20.

Valaris (NYSE:VAL - Get Free Report) last announced its 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. The business had revenue of $584.40 million for the quarter, compared to analysts' expectations of $578.01 million. Valaris had a return on equity of 17.40% and a net margin of 15.81%. As a group, equities analysts forecast that Valaris will post 3.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Valaris

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Valaris by 55.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,300,577 shares of the company's stock worth $101,771,000 after purchasing an additional 821,304 shares in the last quarter. Norges Bank acquired a new position in shares of Valaris during the fourth quarter valued at about $31,949,000. Condire Management LP increased its position in shares of Valaris by 34.1% during the fourth quarter. Condire Management LP now owns 2,618,678 shares of the company's stock worth $115,850,000 after acquiring an additional 665,718 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Valaris during the fourth quarter worth about $21,747,000. Finally, AQR Capital Management LLC raised its holdings in shares of Valaris by 942.1% in the 4th quarter. AQR Capital Management LLC now owns 381,463 shares of the company's stock worth $16,502,000 after acquiring an additional 344,857 shares during the last quarter. 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.