Valaris (NYSE:VAL) Sets New 1-Year Low – Here’s What Happened

Valaris Limited (NYSE:VAL) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $27.15 and last traded at $33.31, with a volume of 3735355 shares trading hands. The stock had previously closed at $28.94.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on VAL shares. StockNews.com raised Valaris to a “sell” rating in a research note on Thursday, February 20th. Evercore ISI cut Valaris from an “outperform” rating to an “in-line” rating and cut their target price for the stock from $87.00 to $59.00 in a report on Wednesday, January 15th. Susquehanna decreased their price target on shares of Valaris from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Citigroup lowered their price objective on shares of Valaris from $48.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Finally, Barclays decreased their target price on shares of Valaris from $46.00 to $35.00 and set an “equal weight” rating for the company in a research report on Monday, April 7th. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $52.50.

Valaris Stock Performance

The company’s 50 day moving average price is $38.72 and its 200-day moving average price is $44.79. The stock has a market cap of $2.25 billion, a P/E ratio of 6.15 and a beta of 1.06. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.61 and a current ratio of 1.59.

Valaris (NYSE:VAL) last released its quarterly earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.68. The business had revenue of $584.40 million for the quarter, compared to analysts’ expectations of $578.01 million. Valaris had a net margin of 15.81% and a return on equity of 17.40%. Equities analysts forecast that Valaris Limited will post 3.96 EPS for the current fiscal year.

Institutional Trading of Valaris

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Valaris by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,454,159 shares of the company’s stock valued at $285,532,000 after purchasing an additional 23,509 shares during the period. Lingotto Investment Management LLP boosted its holdings in shares of Valaris by 2.5% in the 4th quarter. Lingotto Investment Management LLP now owns 3,637,207 shares of the company’s stock worth $160,910,000 after buying an additional 87,420 shares during the last quarter. Condire Management LP grew 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 buying an additional 665,718 shares during the period. State Street Corp increased its holdings in Valaris by 4.8% during the third quarter. State Street Corp now owns 2,446,006 shares of the company’s stock worth $136,365,000 after buying an additional 112,216 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Valaris by 55.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,300,577 shares of the company’s stock worth $101,771,000 after buying an additional 821,304 shares during the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

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.