Wall Street Zen Upgrades Valaris (NYSE:VAL) to Hold

Valaris (NYSE:VAL) was upgraded by Wall Street Zen to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other brokerages also recently commented on VAL. Susquehanna upped their price objective on shares of Valaris from $80.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, October 5th. Weiss Ratings raised Valaris from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $67.80.

Valaris Trading Up 0.0%

NYSE:VAL opened at $85.35 on Friday. The company has a fifty day moving average of $84.55 and a 200 day moving average of $86.77. Valaris has a 52 week low of $47.37 and a 52 week high of $114.12. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $5.93 billion, a P/E ratio of 6.37 and a beta of 1.04.

Valaris (NYSE:VAL) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.41. The business had revenue of $539.20 million during the quarter, compared to analysts’ expectations of $488.52 million. Valaris had a net margin of 43.95% and a return on equity of 9.25%. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.61 EPS. On average, research analysts predict that Valaris will post 3.25 earnings per share for the current year.

Institutional Investors Weigh In On Valaris

A number of large investors have recently modified their holdings of VAL. PNC Financial Services Group Inc. grew its position in shares of Valaris by 0.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 31,465 shares of the company’s stock worth $3,085,000 after buying an additional 169 shares during the period. State of Michigan Retirement System increased its stake in shares of Valaris by 1.3% in the 1st quarter. State of Michigan Retirement System now owns 15,500 shares of the company’s stock worth $1,520,000 after acquiring an additional 200 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Valaris by 6.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,162 shares of the company’s stock worth $248,000 after acquiring an additional 203 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in Valaris by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,176 shares of the company’s stock valued at $1,292,000 after acquiring an additional 239 shares during the period. Finally, Parallel Advisors LLC lifted its position in Valaris by 33.5% during the 1st quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $104,000 after acquiring an additional 267 shares during the period. Institutional investors own 96.74% of the company’s stock.

Valaris Company Profile

Valaris Limited (NYSE: VAL) is an offshore drilling contractor that provides drilling services to oil and gas companies worldwide. The company operates a fleet of offshore rigs, including drillships, semisubmersible rigs and jackup rigs, used to explore for and develop offshore energy resources.

Its services support drilling programs in a range of offshore environments, from shallow-water projects using jackup rigs to deepwater and ultra-deepwater operations using drillships and semisubmersible rigs.