Benchmark Reaffirms Buy Rating for Valaris (NYSE:VAL)

Benchmark reiterated their buy rating on shares of Valaris (NYSE:VAL) in a research report released on Thursday morning, Benzinga reports. Benchmark currently has a $90.00 price objective on the stock.

Several other research firms have also commented on VAL. TheStreet raised Valaris from a c rating to a b- rating in a research report on Thursday, February 22nd. Evercore ISI reduced their price target on shares of Valaris from $107.00 to $105.00 and set an outperform rating for the company in a research report on Friday, February 23rd. StockNews.com raised shares of Valaris to a sell rating in a research report on Friday, April 26th. Finally, Barclays reduced their target price on shares of Valaris from $105.00 to $102.00 and set an overweight rating for the company in a report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $100.00.

Valaris Trading Up 4.9 %

VAL opened at $68.25 on Thursday. The business has a fifty day moving average price of $69.74 and a 200 day moving average price of $67.82. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.71. Valaris has a 12 month low of $54.13 and a 12 month high of $78.92. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 5.97 and a beta of 1.20.

Valaris (NYSE:VAL) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The business had revenue of $525.00 million for the quarter, compared to analysts’ expectations of $503.00 million. Valaris had a return on equity of 3.81% and a net margin of 44.93%. Sell-side analysts expect that Valaris will post 4.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Valaris

A number of hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its stake in shares of Valaris by 120.1% during the 3rd quarter. Fifth Third Bancorp now owns 394 shares of the company’s stock worth $30,000 after buying an additional 215 shares in the last quarter. Princeton Global Asset Management LLC purchased a new stake in shares of Valaris in the third quarter valued at about $37,000. Covestor Ltd raised its position in shares of Valaris by 184.0% during the 3rd quarter. Covestor Ltd now owns 693 shares of the company’s stock worth $52,000 after purchasing an additional 449 shares during the last quarter. Assetmark Inc. purchased a new stake in Valaris in the 3rd quarter valued at approximately $70,000. Finally, Spire Wealth Management acquired a new stake in Valaris during the 4th quarter valued at $101,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Valaris Company Profile

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.