Valaris (NYSE:VAL) Hits New 52-Week High – Should You Buy?

Valaris Limited (NYSE:VAL) shares hit a new 52-week high on Wednesday . The stock traded as high as $62.23 and last traded at $62.13, with a volume of 1278222 shares changing hands. The stock had previously closed at $58.69.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on VAL. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Valaris in a research report on Wednesday, January 21st. BTIG Research boosted their price target on Valaris from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Susquehanna increased their price objective on Valaris from $49.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Citigroup reduced their price objective on Valaris from $62.00 to $58.00 and set a “neutral” rating for the company in a report on Monday, December 22nd. Finally, Barclays boosted their target price on Valaris from $43.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Valaris presently has a consensus rating of “Hold” and an average target price of $53.56.

Valaris Trading Up 5.9%

The company has a market capitalization of $4.32 billion, a P/E ratio of 11.07 and a beta of 1.18. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.87 and a current ratio of 1.87. The stock has a fifty day moving average of $54.29 and a 200 day moving average of $52.17.

Institutional Investors Weigh In On Valaris

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blume Capital Management Inc. boosted its position in shares of Valaris by 56.5% in the second quarter. Blume Capital Management Inc. now owns 665 shares of the company’s stock worth $28,000 after purchasing an additional 240 shares during the period. UMB Bank n.a. raised its position in shares of Valaris by 50.5% during the 3rd quarter. UMB Bank n.a. now owns 778 shares of the company’s stock valued at $38,000 after purchasing an additional 261 shares during the period. Signaturefd LLC lifted its stake in shares of Valaris by 45.4% during the 2nd quarter. Signaturefd LLC now owns 916 shares of the company’s stock valued at $39,000 after buying an additional 286 shares in the last quarter. Wexford Capital LP bought a new position in Valaris in the 3rd quarter worth $41,000. Finally, Hantz Financial Services Inc. increased its stake in Valaris by 13,400.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,215 shares of the company’s stock worth $51,000 after buying an additional 1,206 shares in the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

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.