Valaris Limited (NYSE:VAL) Given Consensus Rating of “Reduce” by Brokerages

Shares of Valaris Limited (NYSE:VAL) have been given a consensus rating of “Reduce” by the seven analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $49.17.

Several equities analysts have recently commented on VAL shares. Citigroup decreased their target price on Valaris from $48.00 to $44.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Evercore ISI decreased their price objective on Valaris from $55.00 to $50.00 and set an “in-line” rating on the stock in a report on Friday. Susquehanna reduced their target price on shares of Valaris from $47.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Barclays upped their price target on shares of Valaris from $35.00 to $37.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, StockNews.com upgraded shares of Valaris to a “sell” rating in a research note on Thursday, February 20th.

Institutional Investors Weigh In On Valaris

A number of large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Valaris by 55.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,300,577 shares of the company’s stock valued at $101,771,000 after buying an additional 821,304 shares in the last quarter. Norges Bank bought a new position in Valaris in the fourth quarter valued at approximately $31,949,000. Condire Management LP raised its position in Valaris by 34.1% during the fourth quarter. Condire Management LP now owns 2,618,678 shares of the company’s stock valued at $115,850,000 after purchasing an additional 665,718 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Valaris during the fourth quarter worth $21,747,000. Finally, Waverton Investment Management Ltd boosted its holdings in shares of Valaris by 49.7% in the 1st quarter. Waverton Investment Management Ltd now owns 1,131,601 shares of the company’s stock valued at $44,455,000 after purchasing an additional 375,466 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Valaris Trading Down 1.4 %

Shares of Valaris stock opened at $35.47 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.59 and a quick ratio of 1.61. The business has a fifty day simple moving average of $34.98 and a two-hundred day simple moving average of $42.35. Valaris has a 1 year low of $27.15 and a 1 year high of $84.20. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 6.90 and a beta of 1.09.

Valaris (NYSE:VAL) last posted its earnings results on Wednesday, April 30th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($1.63). The company had revenue of $620.70 million for the quarter, compared to analyst estimates of $582.87 million. Valaris had a return on equity of 17.40% and a net margin of 15.81%. The business’s revenue was up 6.2% on a year-over-year basis. Research analysts forecast that Valaris will post 3.96 EPS for the current year.

About Valaris

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.