Valaris (NYSE:VAL) Releases Earnings Results, Beats Expectations By $9.86 EPS

Valaris (NYSE:VAL) released its quarterly earnings data on Thursday. The company reported $10.26 earnings per share for the quarter, topping the consensus estimate of $0.40 by $9.86, FiscalAI reports. Valaris had a net margin of 16.51% and a return on equity of 17.27%. The firm had revenue of $537.40 million for the quarter, compared to analyst estimates of $499.16 million.

Valaris Price Performance

NYSE VAL traded up $1.48 on Thursday, reaching $92.48. 2,127,241 shares of the stock traded hands, compared to its average volume of 1,993,846. The firm’s fifty day simple moving average is $59.44 and its 200 day simple moving average is $54.63. The company has a market cap of $6.43 billion, a price-to-earnings ratio of 16.48 and a beta of 1.18. Valaris has a 12 month low of $27.15 and a 12 month high of $96.40. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.44.

Hedge Funds Weigh In On Valaris

Institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Valaris by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,689 shares of the company’s stock valued at $1,440,000 after acquiring an additional 1,605 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Valaris by 3.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,662 shares of the company’s stock worth $5,797,000 after purchasing an additional 4,263 shares during the period. Prudential Financial Inc. boosted its position in shares of Valaris by 4.1% during the second quarter. Prudential Financial Inc. now owns 5,885 shares of the company’s stock worth $248,000 after purchasing an additional 230 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Valaris by 17.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 13,539 shares of the company’s stock valued at $570,000 after buying an additional 1,996 shares during the period. Finally, Quantbot Technologies LP bought a new stake in shares of Valaris in the 2nd quarter valued at $249,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VAL has been the topic of a number of research reports. Barclays increased their price target on Valaris from $43.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. BTIG Research increased their target price on Valaris from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Zacks Research cut Valaris from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Citigroup lowered their price target on shares of Valaris from $62.00 to $58.00 and set a “neutral” rating for the company in a research report on Monday, December 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Valaris in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $53.56.

About Valaris

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.