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

Shares of Valaris Limited (NYSE:VAL) have earned an average recommendation of “Reduce” from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $49.17.

VAL has been the topic of several research reports. Evercore ISI decreased their target price on Valaris from $55.00 to $50.00 and set an “in-line” rating on the stock in a research report on Friday, May 2nd. Citigroup cut their price objective on shares of Valaris from $48.00 to $44.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Susquehanna lowered their target price on Valaris from $47.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Barclays upped their price target on Valaris from $35.00 to $37.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Finally, Wall Street Zen raised Valaris to a “sell” rating in a research note on Tuesday, May 13th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Lingotto Investment Management LLP raised its stake in shares of Valaris by 2.5% in the 4th quarter. Lingotto Investment Management LLP now owns 3,637,207 shares of the company’s stock valued at $160,910,000 after acquiring an additional 87,420 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Valaris in the 4th quarter valued at $611,000. Raymond James Financial Inc. acquired a new stake in Valaris in the fourth quarter valued at $875,000. Deutsche Bank AG lifted its stake in Valaris by 94.7% during the fourth quarter. Deutsche Bank AG now owns 207,291 shares of the company’s stock worth $9,171,000 after purchasing an additional 100,812 shares during the last quarter. Finally, Hosking Partners LLP lifted its position in shares of Valaris by 33.6% during the 4th quarter. Hosking Partners LLP now owns 341,842 shares of the company’s stock worth $15,123,000 after buying an additional 85,891 shares during the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Valaris Price Performance

Shares of NYSE VAL opened at $41.66 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.61 and a current ratio of 1.59. The firm has a fifty day moving average of $35.18 and a 200 day moving average of $40.54. The firm has a market cap of $2.96 billion, a PE ratio of 8.11 and a beta of 1.13. Valaris has a one year low of $27.15 and a one year high of $84.20.

Valaris (NYSE:VAL) last released its earnings results on Wednesday, April 30th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($1.63). The company had revenue of $620.70 million for the quarter, compared to analysts’ expectations of $582.87 million. Valaris had a return on equity of 17.40% and a net margin of 15.81%. Valaris’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, research analysts predict that Valaris will post 3.96 EPS for the current fiscal year.

About Valaris

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.