Valaris Limited (NYSE:VAL) Stock Has Consensus Price Target of $67.80

Valaris Limited (NYSE:VAL) has earned a consensus recommendation of “Reduce” from the seven ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $67.80.

Several research analysts have recently weighed in on the stock. Susquehanna upped their target price on shares of Valaris from $80.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, October 5th. Wall Street Zen raised shares of Valaris to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings raised shares of Valaris from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th.

Institutional Trading of Valaris

Several large investors have recently modified their holdings of VAL. Public Employees Retirement System of Ohio purchased a new stake in shares of Valaris during the second quarter worth about $42,000. Harbor Investment Advisory LLC purchased a new position in Valaris in the second quarter valued at about $46,000. V Square Quantitative Management LLC boosted its holdings in Valaris by 59.6% in the third quarter. V Square Quantitative Management LLC now owns 838 shares of the company’s stock valued at $66,000 after purchasing an additional 313 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Valaris by 33.5% in the first quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $104,000 after purchasing an additional 267 shares during the last quarter. Finally, Longview Financial Advisors Inc. acquired a new stake in Valaris during the 1st quarter valued at approximately $105,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Valaris Stock Performance

Valaris stock opened at $85.35 on Tuesday. The firm has a market capitalization of $5.93 billion, a PE ratio of 6.37 and a beta of 1.04. Valaris has a one year low of $47.37 and a one year high of $114.12. The stock’s 50 day moving average price is $84.55 and its 200 day moving average price is $86.85. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.55 and a current ratio of 1.55.

Valaris (NYSE:VAL) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.41. The company had revenue of $539.20 million during the quarter, compared to the consensus estimate of $488.52 million. Valaris had a net margin of 43.95% and a return on equity of 9.25%. Valaris’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter last year, the company earned $1.61 earnings per share. As a group, sell-side analysts expect that Valaris will post 3.25 EPS for the current fiscal year.

About Valaris

Valaris Limited (NYSE: VAL) is an offshore drilling contractor that provides drilling services to oil and gas companies worldwide. The company operates a fleet of offshore rigs, including drillships, semisubmersible rigs and jackup rigs, used to explore for and develop offshore energy resources.

Its services support drilling programs in a range of offshore environments, from shallow-water projects using jackup rigs to deepwater and ultra-deepwater operations using drillships and semisubmersible rigs.