Valaris (NYSE:VAL) Given New $98.00 Price Target at Susquehanna

Valaris (NYSE:VAL) had its target price increased by equities researchers at Susquehanna from $96.00 to $98.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Susquehanna’s price objective suggests a potential downside of 0.06% from the stock’s previous close.

Several other analysts have also recently weighed in on VAL. Zacks Research cut Valaris from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Pareto Securities cut Valaris from a “hold” rating to a “sell” rating and set a $80.00 price objective for the company. in a report on Monday, February 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Valaris in a report on Wednesday, January 21st. BTIG Research cut Valaris from a “buy” rating to a “hold” rating in a report on Monday, March 9th. Finally, Citigroup dropped their price objective on Valaris from $62.00 to $58.00 and set a “neutral” rating for the company in a report on Monday, December 22nd. Ten analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Valaris presently has a consensus rating of “Reduce” and an average target price of $61.72.

Valaris Trading Up 0.6%

NYSE:VAL traded up $0.62 on Tuesday, hitting $98.06. 161,143 shares of the stock were exchanged, compared to its average volume of 1,557,880. The stock has a market capitalization of $6.79 billion, a price-to-earnings ratio of 7.01 and a beta of 1.04. Valaris has a 52 week low of $27.15 and a 52 week high of $105.35. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.77 and a current ratio of 1.77. The company’s 50-day moving average price is $87.54 and its 200 day moving average price is $65.37.

Institutional Trading of Valaris

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Corient Private Wealth LLC increased its stake in shares of Valaris by 85.3% in the 4th quarter. Corient Private Wealth LLC now owns 14,426 shares of the company’s stock valued at $718,000 after acquiring an additional 6,641 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Valaris in the 4th quarter valued at about $580,000. Invesco Ltd. increased its stake in shares of Valaris by 7.6% in the 4th quarter. Invesco Ltd. now owns 510,426 shares of the company’s stock valued at $25,725,000 after acquiring an additional 36,001 shares during the last quarter. Mackenzie Financial Corp bought a new stake in shares of Valaris in the 4th quarter valued at about $202,000. Finally, Empowered Funds LLC bought a new stake in shares of Valaris in the 4th quarter valued at about $1,324,000. 96.74% of the stock is owned by institutional investors.

Valaris Company Profile

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.