Valaris (NYSE:VAL) PT Lowered to $61.00

Valaris (NYSE:VAL) had its price target reduced by equities researchers at Barclays from $91.00 to $61.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 21.88% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Susquehanna lowered their price target on Valaris from $62.00 to $61.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Benchmark downgraded Valaris from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Pickering Energy Partners downgraded Valaris from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 16th. Finally, Citigroup lowered their price target on Valaris from $95.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Valaris has an average rating of “Hold” and a consensus price target of $81.33.

Valaris Stock Performance

Shares of NYSE VAL opened at $50.05 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 4.38 and a beta of 1.15. The stock’s fifty day simple moving average is $56.83 and its 200 day simple moving average is $67.14. Valaris has a 52-week low of $49.62 and a 52-week high of $84.20.

Valaris (NYSE:VAL) last issued its earnings results on Wednesday, July 31st. The company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $1.07. The business had revenue of $610.10 million for the quarter, compared to analysts’ expectations of $545.00 million. Valaris had a return on equity of 12.58% and a net margin of 49.33%. As a group, sell-side analysts forecast that Valaris will post 4.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Valaris news, SVP Davor Vukadin sold 15,403 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $56.64, for a total value of $872,425.92. Following the sale, the senior vice president now owns 13,334 shares of the company’s stock, valued at $755,237.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, SVP Davor Vukadin sold 15,403 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $56.64, for a total value of $872,425.92. Following the sale, the senior vice president now owns 13,334 shares in the company, valued at approximately $755,237.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Matthew Lyne sold 26,000 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $55.77, for a total transaction of $1,450,020.00. Following the completion of the sale, the senior vice president now owns 24,388 shares in the company, valued at $1,360,118.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,403 shares of company stock valued at $4,028,246. Insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in VAL. Vanguard Group Inc. lifted its position in Valaris by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 1,893,667 shares of the company’s stock worth $129,849,000 after buying an additional 77,490 shares in the last quarter. State of Michigan Retirement System lifted its position in Valaris by 2.7% during the 1st quarter. State of Michigan Retirement System now owns 15,400 shares of the company’s stock worth $1,159,000 after buying an additional 400 shares in the last quarter. SeaCrest Wealth Management LLC lifted its position in Valaris by 1.0% during the 1st quarter. SeaCrest Wealth Management LLC now owns 16,124 shares of the company’s stock valued at $1,213,000 after purchasing an additional 152 shares during the period. Lee Johnson Capital Management LLC acquired a new position in Valaris during the 1st quarter valued at about $7,355,000. Finally, Privium Fund Management B.V. lifted its position in Valaris by 15.8% during the 1st quarter. Privium Fund Management B.V. now owns 8,134 shares of the company’s stock valued at $612,000 after purchasing an additional 1,107 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

Valaris Company Profile

Valaris Limited, together with its subsidiaries, provides offshore contract drilling services Gulf of Mexico, South America, North Sea, the Middle East, Africa, and the Asia Pacific. The company operates through four segments: Floaters, Jackups, ARO, and Other. It owns an offshore drilling rig fleet, which include drillships, dynamically positioned semisubmersible rigs, moored semisubmersible rig, and jackup rigs.