Valaris (NYSE:VAL) Reaches New 12-Month High – What’s Next?

Valaris Limited (NYSE:VAL)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $58.85 and last traded at $58.2550, with a volume of 372028 shares traded. The stock had previously closed at $55.99.

Wall Street Analyst Weigh In

VAL has been the subject of a number of analyst reports. Citigroup increased their price target on Valaris from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 8th. Clarkson Capital lowered shares of Valaris from a “buy” rating to a “neutral” rating and set a $54.00 price objective for the company. in a research note on Tuesday, September 2nd. Zacks Research upgraded Valaris from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Weiss Ratings restated a “hold (c)” rating on shares of Valaris in a research report on Wednesday, October 8th. Finally, BTIG Research raised their price objective on shares of Valaris from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $51.72.

Valaris Stock Up 3.8%

The business has a 50 day simple moving average of $51.86 and a 200 day simple moving average of $46.52. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of 10.36 and a beta of 1.16. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.87 and a quick ratio of 1.87.

Valaris (NYSE:VAL) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $1.00 by $1.65. The company had revenue of $595.70 million for the quarter, compared to the consensus estimate of $568.41 million. Valaris had a return on equity of 17.27% and a net margin of 16.51%.The company’s revenue for the quarter was down 7.4% on a year-over-year basis. As a group, equities analysts predict that Valaris Limited will post 3.96 earnings per share for the current fiscal year.

Institutional Trading of Valaris

Institutional investors have recently added to or reduced their stakes in the stock. Blume Capital Management Inc. increased its stake in Valaris by 56.5% during the second quarter. Blume Capital Management Inc. now owns 665 shares of the company’s stock valued at $28,000 after purchasing an additional 240 shares during the last quarter. Fifth Third Bancorp grew its position in Valaris by 77.9% in the 2nd quarter. Fifth Third Bancorp now owns 822 shares of the company’s stock valued at $35,000 after buying an additional 360 shares in the last quarter. UMB Bank n.a. lifted its position in Valaris by 50.5% in the third quarter. UMB Bank n.a. now owns 778 shares of the company’s stock worth $38,000 after purchasing an additional 261 shares during the period. Signaturefd LLC boosted its stake in Valaris by 45.4% during the second quarter. Signaturefd LLC now owns 916 shares of the company’s stock valued at $39,000 after buying an additional 286 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its position in shares of Valaris by 13,400.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,215 shares of the company’s stock valued at $51,000 after acquiring an additional 1,206 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Valaris Company Profile

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.