Valaris Limited (NYSE:VAL – Get Free Report) has been assigned an average recommendation of “Reduce” from the seven research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $66.60.
VAL has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Valaris from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Susquehanna boosted their price target on shares of Valaris from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, August 7th.
Valaris Stock Down 0.9%
Valaris (NYSE:VAL – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.41. Valaris had a net margin of 43.95% and a return on equity of 9.25%. The company had revenue of $539.20 million for the quarter, compared to analysts’ expectations of $488.52 million. During the same quarter in the previous year, the firm posted $1.61 EPS. Valaris’s revenue was down 12.4% on a year-over-year basis. Analysts forecast that Valaris will post 3.25 earnings per share for the current year.
Institutional Trading of Valaris
A number of hedge funds have recently made changes to their positions in the stock. WINTON GROUP Ltd raised its stake in Valaris by 0.5% in the fourth quarter. WINTON GROUP Ltd now owns 27,510 shares of the company’s stock valued at $1,387,000 after purchasing an additional 146 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Valaris by 0.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 31,465 shares of the company’s stock worth $3,085,000 after buying an additional 169 shares in the last quarter. State of Michigan Retirement System grew its stake in Valaris by 1.3% in the 1st quarter. State of Michigan Retirement System now owns 15,500 shares of the company’s stock worth $1,520,000 after buying an additional 200 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Valaris by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,176 shares of the company’s stock worth $1,292,000 after buying an additional 239 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of Valaris by 33.5% in the 1st quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $104,000 after buying an additional 267 shares during the last quarter. 96.74% of the stock is owned by institutional investors.
Valaris Company Profile
Valaris Limited (NYSE: VAL) is an offshore contract drilling company that provides drilling services to energy companies worldwide. The company supports exploration and production activities in offshore oil and natural gas fields, operating mobile offshore drilling units for customers under contract.
Valaris’ fleet includes drillships, semisubmersible rigs and jackup rigs. These units are designed for a range of offshore environments, from relatively shallow waters to deepwater and harsh-environment locations.
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