Valaris Limited (NYSE:VAL) Receives Consensus Rating of “Reduce” from Brokerages

Valaris Limited (NYSE:VAL) has been assigned an average rating of “Reduce” from the seven ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $66.60.

A number of equities research analysts recently commented on VAL shares. Weiss Ratings raised Valaris from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 17th. Susquehanna lifted their price target on shares of Valaris from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, August 7th.

Valaris Price Performance

Shares of NYSE:VAL opened at $84.20 on Friday. 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 stock’s 50 day moving average is $82.53 and its 200-day moving average is $88.57. Valaris has a twelve month low of $46.70 and a twelve month high of $114.12. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 6.29 and a beta of 0.93.

Valaris (NYSE:VAL) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.41. Valaris had a net margin of 43.95% and a return on equity of 9.25%. The firm had revenue of $539.20 million during the quarter, compared to analysts’ expectations of $488.52 million. During the same period last year, the company earned $1.61 earnings per share. The business’s revenue was down 12.4% on a year-over-year basis. Sell-side analysts forecast that Valaris will post 3.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Valaris

Several institutional investors have recently made changes to their positions in VAL. HBK Investments L P purchased a new stake in Valaris during the 2nd quarter worth about $114,355,000. Engineers Gate Manager LP bought a new stake in Valaris during the second quarter valued at approximately $1,068,000. Squarepoint Ops LLC grew its position in Valaris by 48.7% in the second quarter. Squarepoint Ops LLC now owns 238,445 shares of the company’s stock worth $17,311,000 after acquiring an additional 78,105 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Valaris in the 2nd quarter worth about $276,000. Finally, BTG Pactual Asset Management US LLC purchased a new stake in Valaris in the second quarter worth approximately $2,258,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Valaris Company Profile

Valaris Limited (NYSE: VAL) is an offshore contract drilling company that provides drilling services to energy companies worldwide. The company supports exploration and production activities in offshore oil and natural gas fields, operating mobile offshore drilling units for customers under contract.

Valaris’ fleet includes drillships, semisubmersible rigs and jackup rigs. These units are designed for a range of offshore environments, from relatively shallow waters to deepwater and harsh-environment locations.