Valaris (NYSE:VAL) Shares Gap Up - What's Next?

Shares of Valaris Limited (NYSE:VAL - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $34.83, but opened at $35.92. Valaris shares last traded at $36.88, with a volume of 275,197 shares.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. StockNews.com raised Valaris to a "sell" rating in a research report on Thursday, February 20th. Susquehanna cut their price target on shares of Valaris from $50.00 to $47.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. JPMorgan Chase & Co. assumed coverage on shares of Valaris in a research note on Friday, December 6th. They set an "underweight" rating and a $40.00 price target for the company. Evercore ISI cut shares of Valaris from an "outperform" rating to an "in-line" rating and cut their price target for the stock from $87.00 to $59.00 in a research note on Wednesday, January 15th. Finally, Barclays cut their price target on shares of Valaris from $49.00 to $46.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $55.00.

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Valaris Stock Up 7.3 %

The business's 50 day moving average price is $44.36 and its 200-day moving average price is $48.70. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.59 and a quick ratio of 1.61. The company has a market cap of $2.65 billion, a P/E ratio of 7.27 and a beta of 1.16.

Valaris (NYSE:VAL - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.68. Valaris had a net margin of 15.81% and a return on equity of 17.40%. The company had revenue of $584.40 million during the quarter, compared to analysts' expectations of $578.01 million. On average, analysts anticipate that Valaris Limited will post 3.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Lingotto Investment Management LLP raised 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. Centiva Capital LP bought a new position in Valaris in the 3rd quarter worth approximately $930,000. XTX Topco Ltd bought a new position in Valaris in the 3rd quarter worth approximately $1,862,000. Aigen Investment Management LP bought a new position in Valaris in the 4th quarter worth approximately $611,000. Finally, State of New Jersey Common Pension Fund D raised its position in Valaris by 19.8% in 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 purchasing an additional 5,184 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.