Valaris (NYSE:VAL – Get Free Report) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.
Several other equities research analysts have also recently issued reports on the stock. Susquehanna boosted their price objective on shares of Valaris from $80.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, October 5th. Weiss Ratings raised Valaris from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $68.50.
View Our Latest Stock Analysis on VAL
Valaris Trading Up 0.0%
Shares of Valaris stock opened at $105.35 on Friday. The stock has a fifty day simple moving average of $86.57 and a 200 day simple moving average of $85.67. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $7.32 billion, a P/E ratio of 7.87 and a beta of 1.03. Valaris has a 12-month low of $48.08 and a 12-month high of $114.12.
Valaris (NYSE:VAL – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the business earned $1.61 earnings per share. Valaris’s revenue for the quarter was down 12.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Valaris will post 3.25 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in shares of Valaris by 3.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,349,443 shares of the company’s stock valued at $328,382,000 after buying an additional 114,730 shares during the last quarter. HBK Investments L P bought a new position in shares of Valaris in the 2nd quarter valued at approximately $114,355,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Valaris by 67.8% in the 1st 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 during the period. Goehring & Rozencwajg Associates LLC grew its stake in shares of Valaris by 24.2% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,319,351 shares of the company’s stock valued at $129,349,000 after purchasing an additional 257,281 shares during the period. Finally, Whitebox Advisors LLC bought a new stake in Valaris during the 1st quarter worth about $57,249,000. 96.74% of the stock is currently owned by institutional investors.
Valaris Company Profile
Valaris plc is an offshore contract drilling company that provides drilling services to oil and gas operators worldwide. The company works with customers to support offshore exploration, appraisal and development programs in shallow-water and deepwater environments.
Valaris operates a fleet that includes drillships, semisubmersible rigs and jackup rigs. Its services include mobile offshore drilling, well construction support and related rig-management and operational services. The company’s fleet is designed to serve a range of offshore projects, from conventional shelf developments to technically demanding deepwater wells.
With operations spanning major offshore energy regions, Valaris has served customers in areas including the Gulf of Mexico, the North Sea, Brazil, West Africa, the Middle East and the Asia-Pacific region.
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