Valaris (NYSE:VAL) Shares Break Below 200-Day Moving Average – What’s Next?

Valaris Limited (NYSE:VAL)’s share price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $86.19 and traded as low as $82.14. Valaris shares last traded at $82.9720, with a volume of 1,273,088 shares trading hands.

Wall Street Analyst Weigh In

VAL has been the subject of several research analyst reports. Weiss Ratings raised Valaris from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Wall Street Zen cut shares of Valaris from a “hold” rating to a “sell” rating in a research note on Saturday, October 31st. Finally, Susquehanna boosted their price target on shares of Valaris from $86.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday. Five analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Valaris has an average rating of “Reduce” and a consensus target price of $76.33.

Valaris Stock Performance

The firm has a market cap of $5.55 billion, a PE ratio of 7.01 and a beta of 1.03. The firm has a 50-day moving average price of $86.48 and a two-hundred day moving average price of $86.43. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.34.

Valaris (NYSE:VAL) last announced its quarterly earnings data on Monday, November 2nd. The company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.40). The firm had revenue of $593.60 million during the quarter, compared to analysts’ expectations of $562.70 million. Valaris had a net margin of 37.35% and a return on equity of 4.26%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.65 EPS. Research analysts forecast that Valaris Limited will post 3.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Valaris

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

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.