Valaris Limited (NYSE:VAL) Receives $66.60 Consensus Price Target from Brokerages

Valaris Limited (NYSE:VAL) has been given a consensus rating of “Reduce” by the seven brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $66.60.

VAL has been the topic of several research 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 upped their price target on shares of Valaris from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th.

Valaris Trading Up 1.2%

NYSE:VAL opened at $82.81 on Friday. Valaris has a 1 year low of $46.70 and a 1 year high of $114.12. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 6.18 and a beta of 0.93. The business has a fifty day moving average of $82.79 and a 200-day moving average of $88.36. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.55 and a current ratio of 1.55.

Valaris (NYSE:VAL) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.41. The business had revenue of $539.20 million for the quarter, compared to analysts’ expectations of $488.52 million. Valaris had a net margin of 43.95% and a return on equity of 9.25%. The company’s revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.61 earnings per share. Equities analysts predict that Valaris will post 3.25 earnings per share for the current year.

Institutional Investors Weigh In On Valaris

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DV Trading LLC increased its holdings in shares of Valaris by 5,533.3% in the first quarter. DV Trading LLC now owns 16,900 shares of the company’s stock valued at $1,657,000 after buying an additional 16,600 shares in the last quarter. Whitebox Advisors LLC bought a new stake in shares of Valaris during the 1st quarter worth $57,249,000. Gallacher Capital Management LLC bought a new stake in shares of Valaris during the 1st quarter worth $1,284,000. Dimensional Fund Advisors LP grew its holdings in shares of Valaris by 3.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,349,443 shares of the company’s stock worth $328,382,000 after acquiring an additional 114,730 shares during the last quarter. Finally, New York State Teachers Retirement System grew its holdings in shares of Valaris by 39.2% in the 1st quarter. New York State Teachers Retirement System now owns 49,871 shares of the company’s stock worth $4,889,000 after acquiring an additional 14,050 shares during the last quarter. Institutional investors own 96.74% of the company’s stock.

About Valaris

Valaris Limited (NYSE: VAL) is an offshore contract drilling company that provides drilling services to energy companies worldwide. The company supports exploration and production activities in offshore oil and natural gas fields, operating mobile offshore drilling units for customers under contract.

Valaris’ fleet includes drillships, semisubmersible rigs and jackup rigs. These units are designed for a range of offshore environments, from relatively shallow waters to deepwater and harsh-environment locations.