Valaris (NYSE:VAL) Trading Up 7% – Here’s Why

Valaris Limited (NYSE:VAL)’s stock price shot up 7% during trading on Monday . The stock traded as high as $111.70 and last traded at $112.8420. 471,481 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 1,376,442 shares. The stock had previously closed at $105.43.

Analyst Upgrades and Downgrades

Several brokerages have commented on VAL. Zacks Research lowered shares of Valaris from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Susquehanna raised their target price on Valaris from $96.00 to $98.00 and gave the company a “neutral” rating in a research report on Tuesday, April 7th. Weiss Ratings cut Valaris from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Pareto Securities cut Valaris from a “hold” rating to a “sell” rating and set a $80.00 target price on the stock. in a research report on Monday, February 23rd. Finally, BTIG Research cut Valaris from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Nine investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $63.19.

Valaris Stock Performance

The stock has a market cap of $7.79 billion, a price-to-earnings ratio of 7.90 and a beta of 0.97. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.55 and a current ratio of 1.55. The company’s 50 day simple moving average is $95.69 and its 200 day simple moving average is $73.98.

Valaris (NYSE:VAL) last released its earnings results on Monday, May 4th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.19). Valaris had a net margin of 45.37% and a return on equity of 12.31%. The company had revenue of $465.40 million for the quarter, compared to analyst estimates of $443.75 million. During the same period in the previous year, the business posted ($0.53) EPS. The firm’s quarterly revenue was down 25.0% on a year-over-year basis. On average, equities research analysts anticipate that Valaris Limited will post 3.41 earnings per share for the current year.

Institutional Investors Weigh In On Valaris

Several hedge funds and other institutional investors have recently bought and sold shares of VAL. UMB Bank n.a. grew its stake in shares of Valaris by 50.5% in the 3rd quarter. UMB Bank n.a. now owns 778 shares of the company’s stock worth $38,000 after purchasing an additional 261 shares during the last quarter. Wexford Capital LP acquired a new position in shares of Valaris in the 3rd quarter worth approximately $41,000. Signaturefd LLC grew its stake in shares of Valaris by 22.1% in the 4th quarter. Signaturefd LLC now owns 1,133 shares of the company’s stock worth $57,000 after purchasing an additional 205 shares during the last quarter. Strs Ohio boosted its holdings in Valaris by 100.0% during the third quarter. Strs Ohio now owns 1,200 shares of the company’s stock worth $59,000 after buying an additional 600 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Valaris by 240.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,853 shares of the company’s stock worth $78,000 after buying an additional 1,308 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors.

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.