Valaris (NYSE:VAL) Stock Rating Reaffirmed by Benchmark

Valaris (NYSE:VAL)‘s stock had its “buy” rating reissued by Benchmark in a research note issued to investors on Thursday, Benzinga reports. They presently have a $90.00 price objective on the stock. Benchmark’s price target suggests a potential upside of 36.70% from the stock’s current price.

A number of other brokerages have also recently issued reports on VAL. Evercore ISI dropped their target price on shares of Valaris from $107.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. Barclays dropped their price objective on Valaris from $105.00 to $102.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 5th. TheStreet upgraded Valaris from a “c” rating to a “b-” rating in a research note on Thursday, February 22nd. Finally, StockNews.com raised Valaris to a “sell” rating in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat.com, Valaris presently has a consensus rating of “Moderate Buy” and an average target price of $100.00.

Valaris Stock Up 2.8 %

Shares of NYSE:VAL traded up $1.78 during trading on Thursday, hitting $65.84. 750,405 shares of the company were exchanged, compared to its average volume of 877,651. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 5.58 and a beta of 1.20. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.54. Valaris has a fifty-two week low of $54.13 and a fifty-two week high of $78.92. The firm has a fifty day moving average price of $69.79 and a two-hundred day moving average price of $67.92.

Valaris (NYSE:VAL) last issued its earnings results on Wednesday, May 1st. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The firm had revenue of $525.00 million for the quarter, compared to analyst estimates of $503.00 million. Valaris had a return on equity of 5.71% and a net margin of 48.50%. As a group, research analysts anticipate that Valaris will post 4.75 earnings per share for the current fiscal year.

Institutional Trading of Valaris

Hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its position in Valaris by 120.1% during the third quarter. Fifth Third Bancorp now owns 394 shares of the company’s stock worth $30,000 after acquiring an additional 215 shares during the period. Princeton Global Asset Management LLC acquired a new position in shares of Valaris during the 3rd quarter worth approximately $37,000. Covestor Ltd increased its holdings in shares of Valaris by 184.0% during the third quarter. Covestor Ltd now owns 693 shares of the company’s stock worth $52,000 after purchasing an additional 449 shares during the period. Assetmark Inc. acquired a new stake in shares of Valaris in the third quarter valued at approximately $70,000. Finally, Spire Wealth Management bought a new stake in shares of Valaris in the fourth quarter valued at approximately $101,000. 96.74% of the stock is owned by institutional investors and hedge funds.

About Valaris

Valaris Limited, together with its subsidiaries, provides offshore contract drilling services Gulf of Mexico, South America, North Sea, the Middle East, Africa, and the Asia Pacific. The company operates through four segments: Floaters, Jackups, ARO, and Other. It owns an offshore drilling rig fleet, which include drillships, dynamically positioned semisubmersible rigs, moored semisubmersible rig, and jackup rigs.