Valaris (NYSE:VAL) Rating Increased to Sell at StockNews.com

StockNews.com upgraded shares of Valaris (NYSE:VAL) to a sell rating in a research report report published on Thursday.

A number of other research analysts have also commented on the stock. Evercore ISI lowered shares of Valaris from an “outperform” rating to an “in-line” rating and decreased their price target for the company from $87.00 to $59.00 in a research note on Wednesday, January 15th. Susquehanna decreased their target price on Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Citigroup increased their target price on Valaris from $47.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Barclays restated an “equal weight” rating and issued a $49.00 price target (down from $59.00) on shares of Valaris in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. began coverage on Valaris in a research report on Friday, December 6th. They set an “underweight” rating and a $40.00 price objective on the stock. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.83.

Valaris Stock Performance

VAL opened at $44.60 on Thursday. The business’s 50-day simple moving average is $45.45 and its 200 day simple moving average is $50.85. Valaris has a 52-week low of $39.90 and a 52-week high of $84.20. 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 capitalization of $3.17 billion, a PE ratio of 8.68 and a beta of 1.10.

Valaris (NYSE:VAL) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.68. Valaris had a net margin of 15.81% and a return on equity of 17.67%. The company had revenue of $584.40 million during the quarter, compared to the consensus estimate of $578.01 million. As a group, sell-side analysts expect that Valaris will post 5.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Valaris

A number of institutional investors have recently modified their holdings of the company. Centiva Capital LP bought a new stake in Valaris during the 3rd quarter worth approximately $930,000. XTX Topco Ltd purchased a new position in shares of Valaris during the third quarter valued at approximately $1,862,000. Diversify Advisory Services LLC grew its holdings in Valaris by 14.8% during the third quarter. Diversify Advisory Services LLC now owns 137,572 shares of the company’s stock worth $7,670,000 after buying an additional 17,690 shares in the last quarter. Waverton Investment Management Ltd raised its position in Valaris by 20.4% in the 3rd quarter. Waverton Investment Management Ltd now owns 670,885 shares of the company’s stock valued at $37,412,000 after buying an additional 113,509 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its stake in Valaris by 19.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 31,391 shares of the company’s stock valued at $1,750,000 after acquiring an additional 5,184 shares in the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

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.