Valaris (NYSE:VAL) Trading Down 7.2% – Here’s Why

Shares of Valaris Limited (NYSE:VAL) fell 7.2% during trading on Thursday . The company traded as low as $77.07 and last traded at $77.1020. 146,523 shares were traded during mid-day trading, a decline of 89% from the average session volume of 1,277,848 shares. The stock had previously closed at $83.05.

Wall Street Analyst Weigh In

A number of research firms have recently commented on VAL. Weiss Ratings cut shares of Valaris from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. BTIG Research cut shares of Valaris from a “buy” rating to a “hold” rating in a report on Monday, March 9th. Pareto Securities downgraded Valaris from a “hold” rating to a “sell” rating and set a $80.00 price objective for the company. in a research note on Monday, February 23rd. Finally, Susquehanna upped their price objective on Valaris from $96.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday, April 7th. Nine equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $63.19.

Valaris Price Performance

The company has a 50 day moving average price of $95.24 and a 200-day moving average price of $80.24. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.34. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 5.47 and a beta of 0.91.

Valaris (NYSE:VAL) last released its quarterly earnings data on Monday, May 4th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.19). Valaris had a net margin of 45.37% and a return on equity of 12.31%. The firm had revenue of $465.40 million during the quarter, compared to analyst estimates of $443.75 million. During the same period in the prior year, the company earned ($0.53) EPS. The business’s quarterly revenue was down 25.0% compared to the same quarter last year. As a group, equities research analysts predict that Valaris Limited will post 3.18 EPS for the current fiscal year.

Institutional Trading of Valaris

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Valaris by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,689 shares of the company’s stock valued at $1,440,000 after purchasing an additional 1,605 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Valaris by 3.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,662 shares of the company’s stock valued at $5,797,000 after purchasing an additional 4,263 shares during the period. Prudential Financial Inc. increased its position in Valaris by 4.1% during the 2nd quarter. Prudential Financial Inc. now owns 5,885 shares of the company’s stock valued at $248,000 after purchasing an additional 230 shares during the period. Russell Investments Group Ltd. increased its position in Valaris by 17.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 13,539 shares of the company’s stock valued at $570,000 after purchasing an additional 1,996 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in Valaris during the 2nd quarter valued at approximately $249,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

About Valaris

Valaris PLC is a leading provider of offshore drilling services to the global energy industry. The company operates a diverse fleet of mobile offshore drilling units, including drillships, semisubmersibles and jackup rigs, designed to support exploration and production activities in deepwater, ultra-deepwater and harsh?environment settings. Valaris serves a wide range of international oil and gas customers, offering turnkey drilling solutions, project management and advanced technology integration to enhance operational efficiency and safety.

Headquartered in Houston, Texas, Valaris maintains a significant presence in key offshore basins around the world.