Valaris (NYSE:VAL) Trading Up 5.5% – Here’s What Happened

Valaris Limited (NYSE:VAL) was up 5.5% during trading on Thursday . The stock traded as high as $97.04 and last traded at $97.6750. Approximately 182,840 shares changed hands during trading, a decline of 89% from the average daily volume of 1,689,158 shares. The stock had previously closed at $92.54.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on VAL shares. Zacks Research cut shares of Valaris from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Weiss Ratings restated a “hold (c)” rating on shares of Valaris in a report on Wednesday, January 21st. BTIG Research lowered shares of Valaris from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. Pareto Securities cut Valaris from a “hold” rating to a “sell” rating and set a $80.00 price target on the stock. in a report on Monday, February 23rd. Finally, Citigroup dropped their price target on Valaris from $62.00 to $58.00 and set a “neutral” rating on the stock in a research note on Monday, December 22nd. Ten research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $56.50.

Valaris Trading Down 3.4%

The stock has a market cap of $6.40 billion, a P/E ratio of 6.61 and a beta of 1.07. The stock’s fifty day moving average is $77.85 and its 200 day moving average is $61.58. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.77 and a current ratio of 1.77.

Institutional Investors Weigh In On Valaris

Large investors have recently made changes to their positions in the stock. UMB Bank n.a. grew its holdings in Valaris by 50.5% in the 3rd quarter. UMB Bank n.a. now owns 778 shares of the company’s stock valued at $38,000 after buying an additional 261 shares in the last quarter. Wexford Capital LP acquired a new position in Valaris in the third quarter valued at about $41,000. Signaturefd LLC boosted its position in shares of Valaris by 22.1% during the fourth quarter. Signaturefd LLC now owns 1,133 shares of the company’s stock worth $57,000 after buying an additional 205 shares during the period. Strs Ohio lifted its holdings in shares of Valaris by 100.0% in the 3rd quarter. Strs Ohio now owns 1,200 shares of the company’s stock valued at $59,000 after purchasing an additional 600 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Valaris by 240.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,853 shares of the company’s stock worth $78,000 after acquiring an additional 1,308 shares during the period. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

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.