Brokerages Set Valaris Limited (NYSE:VAL) Target Price at $60.94

Shares of Valaris Limited (NYSE:VAL) have been assigned an average rating of “Reduce” from the nine ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $60.9375.

A number of equities analysts have recently issued reports on VAL shares. Susquehanna increased their price objective on shares of Valaris from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Weiss Ratings raised shares of Valaris from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th.

Valaris Stock Up 0.7%

NYSE:VAL opened at $86.04 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.55 and a quick ratio of 1.55. Valaris has a 1-year low of $46.70 and a 1-year high of $114.12. The company has a 50-day moving average of $79.61 and a 200 day moving average of $89.13. The firm has a market cap of $5.97 billion, a PE ratio of 6.43 and a beta of 0.94.

Valaris (NYSE:VAL) last posted its earnings results on Wednesday, August 5th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.41. Valaris had a net margin of 43.95% and a return on equity of 9.25%. The business had revenue of $539.20 million for the quarter, compared to the consensus estimate of $488.52 million. During the same quarter last year, the firm posted $1.61 EPS. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. As a group, research analysts anticipate that Valaris will post 3.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Valaris in the 2nd quarter worth $276,000. California State Teachers Retirement System boosted its position in Valaris by 6,198.0% during the second quarter. California State Teachers Retirement System now owns 4,671,955 shares of the company’s stock valued at $339,184,000 after purchasing an additional 4,597,774 shares in the last quarter. BTG Pactual Asset Management US LLC purchased a new position in Valaris in the second quarter valued at about $2,258,000. Quantitative Investment Management LLC purchased a new position in Valaris in the second quarter valued at about $871,000. Finally, Public Employees Retirement System of Ohio bought a new position in Valaris in the second quarter worth about $42,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

About Valaris

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.