Valaris (NYSE:VAL) Stock Price Up 5.5% – What’s Next?

Valaris Limited (NYSE:VAL)’s share price traded up 5.5% during mid-day trading on Friday. The stock traded as high as $95.54 and last traded at $97.25. 59,637 shares traded hands during trading, a decline of 95% from the average session volume of 1,181,127 shares. The stock had previously closed at $92.19.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Susquehanna increased 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. Wall Street Zen upgraded shares of Valaris to a “hold” rating in a research report on Saturday, October 17th. Finally, Weiss Ratings raised shares of Valaris from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $67.80.

Valaris Trading Up 7.1%

The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.55 and a current ratio of 1.55. The firm’s fifty day simple moving average is $84.93 and its 200-day simple moving average is $86.57. The stock has a market cap of $6.86 billion, a P/E ratio of 7.37 and a beta of 1.04.

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

Institutional Investors Weigh In On Valaris

Several institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new stake in Valaris during the second quarter worth approximately $42,000. Harbor Investment Advisory LLC acquired a new position in Valaris in the second quarter valued at approximately $46,000. V Square Quantitative Management LLC lifted its stake in Valaris by 59.6% in the third quarter. V Square Quantitative Management LLC now owns 838 shares of the company’s stock valued at $66,000 after buying an additional 313 shares during the period. Versant Capital Management Inc lifted its stake in Valaris by 76.6% in the third quarter. Versant Capital Management Inc now owns 1,125 shares of the company’s stock valued at $88,000 after buying an additional 488 shares during the period. Finally, Sterling Capital Management LLC boosted its holdings in shares of Valaris by 26.3% during the 3rd quarter. Sterling Capital Management LLC now owns 1,259 shares of the company’s stock worth $99,000 after buying an additional 262 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

Valaris Company Profile

Valaris plc is an offshore contract drilling company that provides drilling services to oil and gas operators worldwide. The company works with customers to support offshore exploration, appraisal and development programs in shallow-water and deepwater environments.

Valaris operates a fleet that includes drillships, semisubmersible rigs and jackup rigs. Its services include mobile offshore drilling, well construction support and related rig-management and operational services. The company’s fleet is designed to serve a range of offshore projects, from conventional shelf developments to technically demanding deepwater wells.

With operations spanning major offshore energy regions, Valaris has served customers in areas including the Gulf of Mexico, the North Sea, Brazil, West Africa, the Middle East and the Asia-Pacific region.