Barclays Issues Pessimistic Forecast for Valaris (NYSE:VAL) Stock Price

Valaris (NYSE:VAL) had its price objective decreased by Barclays from $49.00 to $46.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential upside of 23.97% from the stock’s current price.

Several other brokerages have also recently weighed in on VAL. StockNews.com raised Valaris to a “sell” rating in a research note on Thursday, February 20th. Evercore ISI cut Valaris from an “outperform” rating to an “in-line” rating and decreased their price target for the company from $87.00 to $59.00 in a research note on Wednesday, January 15th. Susquehanna decreased their price target on Valaris from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Citigroup increased their price target on Valaris from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. started coverage on Valaris in a research note on Friday, December 6th. They issued an “underweight” rating and a $40.00 price target for the company. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $55.00.

Valaris Price Performance

Shares of VAL opened at $37.11 on Tuesday. Valaris has a 12-month low of $37.04 and a 12-month high of $84.20. The business has a 50-day simple moving average of $45.21 and a two-hundred day simple moving average of $50.08. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48. The stock has a market cap of $2.64 billion, a PE ratio of 7.22 and a beta of 1.10.

Valaris (NYSE:VAL) last issued its earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.68. Valaris had a return on equity of 17.40% and a net margin of 15.81%. The business had revenue of $584.40 million during the quarter, compared to analysts’ expectations of $578.01 million. Analysts anticipate that Valaris will post 3.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Valaris

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Valaris by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 6,454,159 shares of the company’s stock valued at $285,532,000 after purchasing an additional 23,509 shares in the last quarter. Lingotto Investment Management LLP boosted its holdings in Valaris by 2.5% in the fourth quarter. Lingotto Investment Management LLP now owns 3,637,207 shares of the company’s stock worth $160,910,000 after acquiring an additional 87,420 shares in the last quarter. Condire Management LP boosted its holdings in Valaris by 34.1% in the fourth quarter. Condire Management LP now owns 2,618,678 shares of the company’s stock worth $115,850,000 after acquiring an additional 665,718 shares in the last quarter. State Street Corp boosted its holdings in Valaris by 4.8% in the third quarter. State Street Corp now owns 2,446,006 shares of the company’s stock worth $136,365,000 after acquiring an additional 112,216 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Valaris by 55.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,300,577 shares of the company’s stock worth $101,771,000 after acquiring an additional 821,304 shares in the last quarter. Institutional investors 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.