Valaris (NYSE:VAL) Price Target Raised to $48.00

Valaris (NYSE:VAL - Free Report) had its price objective lifted by Citigroup from $47.00 to $48.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Benchmark cut shares of Valaris from a "buy" rating to a "hold" rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. assumed coverage on Valaris in a research report on Friday, December 6th. They set an "underweight" rating and a $40.00 price target for the company. Susquehanna cut their price objective on Valaris from $61.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, November 1st. Evercore ISI downgraded Valaris from an "outperform" rating to an "in-line" rating and decreased their target price for the stock from $87.00 to $59.00 in a report on Wednesday, January 15th. Finally, Barclays reiterated an "equal weight" rating and issued a $49.00 target price (down previously from $59.00) on shares of Valaris in a research report on Wednesday, December 18th. Two investment 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 an average rating of "Hold" and an average target price of $56.83.

Valaris Stock Down 1.7 %

Shares of Valaris stock traded down $0.83 during trading on Thursday, reaching $47.94. The company's stock had a trading volume of 954,911 shares, compared to its average volume of 1,377,116. The company has a 50-day simple moving average of $45.32 and a two-hundred day simple moving average of $53.91. Valaris has a 1-year low of $39.90 and a 1-year high of $84.20. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 3.29 and a beta of 1.10. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.51.

Valaris (NYSE:VAL - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.88 earnings per share for the quarter, missing analysts' consensus estimates of $1.36 by ($0.48). The business had revenue of $643.10 million for the quarter, compared to analysts' expectations of $588.00 million. Valaris had a return on equity of 13.67% and a net margin of 47.52%. During the same quarter in the previous year, the firm posted $0.17 EPS. As a group, equities analysts forecast that Valaris will post 4.59 earnings per share for the current year.

Hedge Funds Weigh In On Valaris

Institutional investors have recently made changes to their positions in the company. Quarry LP acquired a new stake in Valaris in the third quarter valued at approximately $25,000. Blue Trust Inc. grew its stake in Valaris by 41.0% in the 4th quarter. Blue Trust Inc. now owns 1,758 shares of the company's stock valued at $78,000 after acquiring an additional 511 shares during the period. KBC Group NV grew its stake in Valaris by 63.3% in the 4th quarter. KBC Group NV now owns 2,929 shares of the company's stock valued at $130,000 after acquiring an additional 1,135 shares during the period. Spire Wealth Management increased its holdings in Valaris by 24.3% in the 4th quarter. Spire Wealth Management now owns 4,206 shares of the company's stock worth $186,000 after acquiring an additional 821 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in Valaris during the third quarter worth $244,000. 96.74% of the stock is owned by hedge funds and other institutional investors.

About Valaris

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.