Valaris (NYSE:VAL) Price Target Cut to $61.00 by Analysts at Barclays

Valaris (NYSE:VAL) had its price objective cut by Barclays from $91.00 to $61.00 in a report published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently weighed in on VAL. Citigroup lowered their price objective on Valaris from $95.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Pickering Energy Partners cut Valaris from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 16th. Benchmark cut shares of Valaris from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, Susquehanna lowered their target price on shares of Valaris from $62.00 to $61.00 and set a “neutral” rating for the company in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Valaris currently has an average rating of “Hold” and an average price target of $81.33.

Valaris Stock Up 0.8 %

Shares of NYSE:VAL opened at $50.88 on Wednesday. The firm has a fifty day moving average of $55.77 and a 200 day moving average of $66.55. Valaris has a 52-week low of $48.63 and a 52-week high of $84.20. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market capitalization of $3.68 billion, a PE ratio of 4.45 and a beta of 1.15.

Valaris (NYSE:VAL) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $1.07. The firm had revenue of $610.10 million during the quarter, compared to analyst estimates of $545.00 million. Valaris had a net margin of 49.33% and a return on equity of 12.58%. As a group, research analysts anticipate that Valaris will post 4.37 EPS for the current fiscal year.

Insider Activity at Valaris

In other news, SVP Davor Vukadin sold 15,403 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $56.64, for a total transaction of $872,425.92. Following the completion of the sale, the senior vice president now owns 13,334 shares of the company’s stock, valued at $755,237.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO Gilles Luca sold 30,000 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $56.86, for a total transaction of $1,705,800.00. Following the completion of the sale, the chief operating officer now owns 108,342 shares in the company, valued at approximately $6,160,326.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Davor Vukadin sold 15,403 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $56.64, for a total value of $872,425.92. Following the completion of the transaction, the senior vice president now directly owns 13,334 shares in the company, valued at approximately $755,237.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,403 shares of company stock worth $4,028,246. 0.12% of the stock is owned by company insiders.

Institutional Trading of Valaris

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its position in Valaris by 180.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $27,000 after buying an additional 235 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Valaris during the first quarter worth $149,000. Choreo LLC purchased a new stake in shares of Valaris during the second quarter valued at $204,000. Evergreen Capital Management LLC acquired a new position in shares of Valaris in the 2nd quarter valued at $204,000. Finally, Scientech Research LLC acquired a new stake in Valaris during the 2nd quarter worth about $211,000. 96.74% of the stock is currently owned by institutional investors.

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.