Valaris Limited (NYSE:VAL) Receives Average Rating of “Reduce” from Analysts

Valaris Limited (NYSE:VAL) has earned a consensus rating of “Reduce” from the nine analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating and eight have issued a hold rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $60.9375.

VAL has been the subject of a number of analyst reports. Weiss Ratings raised shares of Valaris from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Susquehanna lifted their target price on shares of Valaris from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th.

Hedge Funds Weigh In On Valaris

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its position in shares of Valaris by 6,198.0% in the second quarter. California State Teachers Retirement System now owns 4,671,955 shares of the company’s stock worth $339,184,000 after buying an additional 4,597,774 shares during the period. Schf GPE LLC purchased a new position in shares of Valaris during the second quarter valued at $77,675,000. Whitebox Advisors LLC acquired a new position in Valaris during the first quarter valued at $57,249,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in Valaris by 67.8% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,363,230 shares of the company’s stock valued at $133,651,000 after buying an additional 550,987 shares during the period. Finally, Norges Bank purchased a new stake in Valaris in the 4th quarter worth about $23,581,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Valaris Stock Down 0.3%

Shares of Valaris stock opened at $86.04 on Monday. The stock’s fifty day moving average is $79.61 and its 200-day moving average is $89.17. The firm has a market capitalization of $5.97 billion, a PE ratio of 6.43 and a beta of 0.94. 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 has a 12-month low of $46.70 and a 12-month high of $114.12.

Valaris (NYSE:VAL) last announced its earnings results on Wednesday, August 5th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.31 by $0.41. The business had revenue of $539.20 million during the quarter, compared to the consensus estimate of $488.52 million. Valaris had a return on equity of 9.25% and a net margin of 43.95%.Valaris’s revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.61 earnings per share. Equities analysts anticipate that Valaris will post 3.18 earnings per share for the current year.

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.