Valaris (NYSE:VAL) Sets New 52-Week High – Here’s What Happened

Valaris Limited (NYSE:VAL) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $105.52 and last traded at $104.9820, with a volume of 1474187 shares changing hands. The stock had previously closed at $103.27.

Analyst Ratings Changes

VAL has been the subject of a number of recent analyst reports. Pareto Securities downgraded shares of Valaris from a “hold” rating to a “sell” rating and set a $80.00 price target for the company. in a research report on Monday, February 23rd. BTIG Research downgraded shares of Valaris from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Zacks Research downgraded shares of Valaris from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 28th. Weiss Ratings downgraded shares of Valaris from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Finally, Susquehanna raised their price target on shares of Valaris from $96.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 7th. Nine investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $63.19.

Valaris Trading Up 1.7%

The stock has a market cap of $7.27 billion, a price-to-earnings ratio of 7.35 and a beta of 0.97. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.55 and a quick ratio of 1.55. The business’s fifty day simple moving average is $95.48 and its 200 day simple moving average is $73.64.

Valaris (NYSE:VAL) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.19). Valaris had a net margin of 45.37% and a return on equity of 12.31%. The firm had revenue of $465.40 million for the quarter, compared to analyst estimates of $443.75 million. During the same period last year, the firm posted ($0.53) EPS. The business’s revenue was down 25.0% compared to the same quarter last year. On average, research analysts predict that Valaris Limited will post 3.41 EPS for the current year.

Institutional Investors Weigh In On Valaris

A number of hedge funds and other institutional investors have recently modified their holdings of VAL. Schf GPE LLC bought a new stake in shares of Valaris during the second quarter valued at about $77,675,000. American Century Companies Inc. raised its stake in shares of Valaris by 87.1% during the third quarter. American Century Companies Inc. now owns 1,274,038 shares of the company’s stock valued at $62,135,000 after purchasing an additional 592,971 shares in the last quarter. ANTIPODES PARTNERS Ltd raised its stake in shares of Valaris by 8,034.0% during the third quarter. ANTIPODES PARTNERS Ltd now owns 580,198 shares of the company’s stock valued at $28,298,000 after purchasing an additional 573,065 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Valaris by 67.8% during 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 purchasing an additional 550,987 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC raised its stake in shares of Valaris by 108.9% during the third quarter. Goehring & Rozencwajg Associates LLC now owns 902,440 shares of the company’s stock valued at $44,012,000 after purchasing an additional 470,419 shares in the last quarter. 96.74% of the stock is currently owned by 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.