Valaris Sees Unusually High Options Volume (NYSE:VAL)

Valaris Limited (NYSE:VAL) saw some unusual options trading on Tuesday. Stock investors acquired 5,483 put options on the company. This is an increase of approximately 108% compared to the typical daily volume of 2,642 put options.

Valaris Stock Performance

VAL traded up $0.53 on Tuesday, reaching $33.38. 3,309,295 shares of the stock were exchanged, compared to its average volume of 1,876,214. The company’s 50-day moving average price is $44.85 and its 200 day moving average price is $49.37. 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 firm has a market capitalization of $2.37 billion, a PE ratio of 6.49 and a beta of 1.10. Valaris has a fifty-two week low of $31.15 and a fifty-two week high of $84.20.

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

Institutional Investors Weigh In On Valaris

Several hedge funds have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Valaris by 14.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 143,399 shares of the company’s stock valued at $6,344,000 after buying an additional 18,107 shares during the period. Teza Capital Management LLC purchased a new position in Valaris during the fourth quarter valued at approximately $923,000. Point72 Asset Management L.P. lifted its holdings in Valaris by 376.7% in the fourth quarter. Point72 Asset Management L.P. now owns 96,023 shares of the company’s stock valued at $4,248,000 after acquiring an additional 130,723 shares during the period. ProShare Advisors LLC boosted its position in Valaris by 38.4% in the 4th quarter. ProShare Advisors LLC now owns 20,430 shares of the company’s stock worth $904,000 after purchasing an additional 5,665 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of Valaris by 0.3% during the 4th quarter. Nuveen Asset Management LLC now owns 184,318 shares of the company’s stock worth $8,154,000 after purchasing an additional 588 shares during the period. 96.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on VAL shares. Barclays reduced their target price on shares of Valaris from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, February 25th. StockNews.com upgraded shares of Valaris to a “sell” rating in a research note on Thursday, February 20th. Citigroup raised their target price on shares of Valaris from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. started coverage on Valaris in a research report on Friday, December 6th. They set an “underweight” rating and a $40.00 price target on the stock. Finally, Susquehanna lowered their price target on Valaris from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $55.00.

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.