Valaris Limited (NYSE:VAL) Given Average Recommendation of “Reduce” by Brokerages

Shares of Valaris Limited (NYSE:VAL) have earned an average rating of “Reduce” from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $60.3125.

A number of research firms have commented on VAL. Susquehanna lowered their price objective on Valaris from $98.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday. Weiss Ratings downgraded Valaris from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th.

Valaris Stock Performance

Shares of NYSE:VAL opened at $76.28 on Friday. The company’s 50 day moving average price is $89.37 and its two-hundred day moving average price is $82.53. Valaris has a 12-month low of $43.53 and a 12-month high of $114.12. The firm has a market cap of $5.28 billion, a PE ratio of 5.34 and a beta of 0.93. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.34.

Valaris (NYSE:VAL) last released its quarterly earnings results on Monday, May 4th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.19). The business had revenue of $465.40 million during the quarter, compared to analyst estimates of $443.75 million. Valaris had a net margin of 45.37% and a return on equity of 12.31%. The firm’s quarterly revenue was down 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.53) earnings per share. Equities research analysts predict that Valaris will post 3.18 earnings per share for the current year.

Institutional Investors Weigh In On Valaris

Several institutional investors and hedge funds have recently bought and sold shares of VAL. Schf GPE LLC acquired a new position in shares of Valaris in the 2nd quarter valued at approximately $77,675,000. Whitebox Advisors LLC bought a new position in Valaris in the first quarter valued at approximately $57,249,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Valaris by 67.8% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,363,230 shares of the company’s stock valued at $133,651,000 after acquiring an additional 550,987 shares during the last quarter. Norges Bank acquired a new position in Valaris during the fourth quarter valued at approximately $23,581,000. Finally, Ameriprise Financial Inc. raised its position in Valaris by 212.8% during the third quarter. Ameriprise Financial Inc. now owns 470,076 shares of the company’s stock valued at $22,926,000 after purchasing an additional 319,780 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

Valaris Company Profile

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.