Brokerages Set Valaris Limited (NYSE:VAL) Target Price at $63.19

Valaris Limited (NYSE:VAL) has earned a consensus recommendation of “Reduce” from the ten research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and nine have issued a hold recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $63.1875.

Several research analysts have weighed in on VAL shares. Weiss Ratings cut Valaris from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Susquehanna raised their price target on shares of Valaris from $96.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 7th.

Institutional Investors Weigh In On Valaris

Hedge funds and other institutional investors have recently made changes to their positions in the business. Harbor Investment Advisory LLC acquired a new stake in Valaris during the second quarter worth approximately $46,000. Wexford Capital LP acquired a new position in Valaris in the 3rd quarter valued at $41,000. Parallel Advisors LLC raised its holdings in Valaris by 33.5% in the 1st quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $104,000 after acquiring an additional 267 shares in the last quarter. Longview Financial Advisors Inc. bought a new stake in shares of Valaris during the 1st quarter valued at $105,000. Finally, Signaturefd LLC grew its holdings in shares of Valaris by 22.1% during the 4th quarter. Signaturefd LLC now owns 1,133 shares of the company’s stock worth $57,000 after purchasing an additional 205 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Valaris Stock Up 1.6%

Shares of VAL opened at $74.70 on Friday. Valaris has a 52 week low of $43.53 and a 52 week high of $114.12. The firm has a market cap of $5.17 billion, a P/E ratio of 5.23 and a beta of 0.93. The firm’s 50-day simple moving average is $90.28 and its 200 day simple moving average is $82.14. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.55 and a current ratio of 1.55.

Valaris (NYSE:VAL) last announced its earnings results on Monday, May 4th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.19). The firm had revenue of $465.40 million for the quarter, compared to the consensus estimate of $443.75 million. Valaris had a return on equity of 12.31% and a net margin of 45.37%.Valaris’s revenue for the quarter was down 25.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.53) EPS. On average, analysts forecast that Valaris will post 3.18 earnings per share for the current year.

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.