Valaris Limited (NYSE:VAL) Receives Consensus Rating of “Reduce” from Analysts

Shares of Valaris Limited (NYSE:VAL) have been given an average recommendation of “Reduce” by the seven analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $56.83.

A number of research firms have issued reports on VAL. Evercore ISI downgraded shares of Valaris from an “outperform” rating to an “in-line” rating and cut their price objective for the company from $87.00 to $59.00 in a report on Wednesday, January 15th. Citigroup boosted their price objective on shares of Valaris from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. initiated coverage on shares of Valaris in a report on Friday, December 6th. They set an “underweight” rating and a $40.00 price target for the company. Susquehanna cut their price target on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Finally, Barclays reaffirmed an “equal weight” rating and set a $49.00 price target (down previously from $59.00) on shares of Valaris in a report on Wednesday, December 18th.

Valaris Stock Down 4.8 %

Shares of VAL opened at $42.66 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market cap of $3.03 billion, a P/E ratio of 2.93 and a beta of 1.10. Valaris has a 52 week low of $39.90 and a 52 week high of $84.20. The firm’s 50-day simple moving average is $45.44 and its 200 day simple moving average is $50.90.

Valaris (NYSE:VAL) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.68. Valaris had a net margin of 47.52% and a return on equity of 13.67%. On average, analysts forecast that Valaris will post 4.59 earnings per share for the current year.

Hedge Funds Weigh In On Valaris

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

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.