Susquehanna Issues Positive Forecast for Valaris (NYSE:VAL) Stock Price

Valaris (NYSE:VAL) had its price target raised by equities research analysts at Susquehanna from $86.00 to $91.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Susquehanna‘s price objective would suggest a potential upside of 1.01% from the stock’s previous close.

Other analysts have also issued reports about the stock. Wall Street Zen lowered shares of Valaris from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings raised shares of Valaris from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 17th. Six research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Valaris presently has a consensus rating of “Reduce” and a consensus price target of $69.75.

Valaris Price Performance

Shares of VAL stock opened at $90.09 on Wednesday. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of 7.90 and a beta of 1.03. The stock’s 50-day simple moving average is $86.78 and its 200-day simple moving average is $86.05. 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 has a fifty-two week low of $48.08 and a fifty-two week high of $114.12.

Valaris (NYSE:VAL) last posted its quarterly earnings data on Monday, November 2nd. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.40). Valaris had a net margin of 37.35% and a return on equity of 4.26%. The company had revenue of $593.60 million for the quarter, compared to analysts’ expectations of $562.70 million. During the same period in the previous year, the business earned $2.65 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. As a group, equities analysts forecast that Valaris will post 3.25 earnings per share for the current fiscal year.

Institutional Trading of Valaris

A number of large investors have recently made changes to their positions in VAL. Parallel Advisors LLC raised its stake in Valaris by 14.3% in the 3rd quarter. Parallel Advisors LLC now owns 1,266 shares of the company’s stock valued at $99,000 after purchasing an additional 158 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Valaris by 0.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 31,465 shares of the company’s stock worth $3,085,000 after purchasing an additional 169 shares during the last quarter. Kestra Advisory Services LLC boosted its stake in shares of Valaris by 5.6% during the 3rd quarter. Kestra Advisory Services LLC now owns 3,728 shares of the company’s stock worth $293,000 after purchasing an additional 199 shares during the last quarter. State of Michigan Retirement System boosted its stake in shares of Valaris by 1.3% during the 1st quarter. State of Michigan Retirement System now owns 15,500 shares of the company’s stock worth $1,520,000 after purchasing an additional 200 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Valaris by 7.1% during the third quarter. Nisa Investment Advisors LLC now owns 3,030 shares of the company’s stock worth $238,000 after buying an additional 201 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Valaris Company Profile

Valaris plc is an offshore contract drilling company that provides drilling services to oil and gas operators worldwide. The company works with customers to support offshore exploration, appraisal and development programs in shallow-water and deepwater environments.

Valaris operates a fleet that includes drillships, semisubmersible rigs and jackup rigs. Its services include mobile offshore drilling, well construction support and related rig-management and operational services. The company’s fleet is designed to serve a range of offshore projects, from conventional shelf developments to technically demanding deepwater wells.

With operations spanning major offshore energy regions, Valaris has served customers in areas including the Gulf of Mexico, the North Sea, Brazil, West Africa, the Middle East and the Asia-Pacific region.