Valaris (NYSE:VAL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Valaris (NYSE:VAL) to a hold rating in a research note released on Saturday,Wall Street Zen reports.

Several other analysts also recently commented on the stock. Susquehanna upped their price target on shares of Valaris from $80.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, October 5th. Weiss Ratings upgraded shares of Valaris from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Six research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Valaris currently has an average rating of “Reduce” and a consensus price target of $67.80.

Valaris Price Performance

Shares of NYSE VAL opened at $89.54 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.34. Valaris has a twelve month low of $48.08 and a twelve month high of $114.12. The stock has a 50 day moving average of $84.64 and a two-hundred day moving average of $86.71. The stock has a market cap of $6.22 billion, a P/E ratio of 6.69 and a beta of 1.04.

Valaris (NYSE:VAL) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.41. The business had revenue of $539.20 million during the quarter, compared to the consensus estimate of $488.52 million. Valaris had a return on equity of 9.25% and a net margin of 43.95%. The company’s revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.61 earnings per share. On average, research analysts forecast that Valaris will post 3.25 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. HBK Investments L P acquired a new position in Valaris during the second quarter worth $114,355,000. Whitebox Advisors LLC acquired a new position in Valaris during the first quarter worth $57,249,000. Healthcare of Ontario Pension Plan Trust Fund raised its position 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 worth $133,651,000 after acquiring an additional 550,987 shares in the last quarter. Goehring & Rozencwajg Associates LLC raised its position in Valaris by 24.2% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,319,351 shares of the company’s stock worth $129,349,000 after acquiring an additional 257,281 shares in the last quarter. Finally, Sei Investments Co. raised its position in Valaris by 66.2% in the first quarter. Sei Investments Co. now owns 399,805 shares of the company’s stock worth $39,197,000 after acquiring an additional 159,304 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

About Valaris

Valaris plc is an offshore contract drilling company that provides drilling services to oil and gas operators worldwide. The company works with customers to support offshore exploration, appraisal and development programs in shallow-water and deepwater environments.

Valaris operates a fleet that includes drillships, semisubmersible rigs and jackup rigs. Its services include mobile offshore drilling, well construction support and related rig-management and operational services. The company’s fleet is designed to serve a range of offshore projects, from conventional shelf developments to technically demanding deepwater wells.

With operations spanning major offshore energy regions, Valaris has served customers in areas including the Gulf of Mexico, the North Sea, Brazil, West Africa, the Middle East and the Asia-Pacific region.