Valaris (NYSE:VAL) Trading 7.6% Higher After Analyst Upgrade

Valaris Limited (NYSE:VAL) rose 7.6% during trading on Monday after Susquehanna raised their price target on the stock from $75.00 to $80.00. Susquehanna currently has a neutral rating on the stock. Valaris traded as high as $84.79 and last traded at $84.7390. 590,521 shares changed hands during trading, a decline of 51% from the average session volume of 1,207,863 shares. The stock had previously closed at $78.78.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Valaris in a report on Monday, August 3rd. Eight equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $60.94.

Institutional Trading of Valaris

Several large investors have recently bought and sold shares of VAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Valaris by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,689 shares of the company’s stock valued at $1,440,000 after buying an additional 1,605 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Valaris by 3.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,662 shares of the company’s stock worth $5,797,000 after acquiring an additional 4,263 shares during the last quarter. Prudential Financial Inc. lifted its position in Valaris by 4.1% during the 2nd quarter. Prudential Financial Inc. now owns 5,885 shares of the company’s stock worth $248,000 after acquiring an additional 230 shares during the period. Russell Investments Group Ltd. lifted its position in Valaris by 17.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 13,539 shares of the company’s stock worth $570,000 after acquiring an additional 1,996 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Valaris during the 2nd quarter valued at about $249,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Valaris Stock Up 7.6%

The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 6.32 and a beta of 0.94. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.55 and a quick ratio of 1.55. The business has a fifty day moving average price of $80.09 and a two-hundred day moving average price of $86.33.

Valaris (NYSE:VAL) last released its earnings results on Wednesday, August 5th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.41. The firm had revenue of $539.20 million during the quarter, compared to the consensus estimate of $488.52 million. Valaris had a return on equity of 9.25% and a net margin of 43.95%.The company’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.61 earnings per share. On average, equities analysts expect that Valaris Limited will post 3.18 earnings per share for the current year.

Valaris Company Profile

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.