Barclays Issues Pessimistic Forecast for Valaris (NYSE:VAL) Stock Price

Valaris (NYSE:VAL) had its target price cut by Barclays from $49.00 to $46.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential upside of 12.60% from the stock’s current price.

A number of other analysts have also commented on the stock. StockNews.com raised shares of Valaris to a “sell” rating in a research report on Thursday, February 20th. Evercore ISI cut shares of Valaris from an “outperform” rating to an “in-line” rating and cut their price target for the stock from $87.00 to $59.00 in a research report on Wednesday, January 15th. JPMorgan Chase & Co. assumed coverage on Valaris in a report on Friday, December 6th. They issued an “underweight” rating and a $40.00 price objective for the company. Citigroup lifted their target price on Valaris from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Susquehanna reduced their price target on Valaris from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $55.00.

Valaris Trading Down 2.2 %

NYSE VAL opened at $40.85 on Tuesday. Valaris has a one year low of $39.90 and a one year high of $84.20. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.59 and a quick ratio of 1.61. The firm has a market cap of $2.91 billion, a P/E ratio of 7.95 and a beta of 1.10. The stock’s 50-day moving average is $45.38 and its 200-day moving average is $50.36.

Valaris (NYSE:VAL) last posted its earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.68. Valaris had a return on equity of 17.40% and a net margin of 15.81%. The business had revenue of $584.40 million during the quarter, compared to analysts’ expectations of $578.01 million. Sell-side analysts anticipate that Valaris will post 3.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Valaris

A number of institutional investors and hedge funds have recently modified their holdings of VAL. Vanguard Group Inc. grew its holdings in Valaris by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,454,159 shares of the company’s stock worth $285,532,000 after purchasing an additional 23,509 shares during the period. Lingotto Investment Management LLP boosted its stake in shares of Valaris by 2.5% during the 4th quarter. Lingotto Investment Management LLP now owns 3,637,207 shares of the company’s stock worth $160,910,000 after acquiring an additional 87,420 shares during the period. Condire Management LP boosted its stake in shares of Valaris by 34.1% during the 4th quarter. Condire Management LP now owns 2,618,678 shares of the company’s stock worth $115,850,000 after acquiring an additional 665,718 shares during the period. State Street Corp increased its holdings in shares of Valaris by 4.8% during the 3rd quarter. State Street Corp now owns 2,446,006 shares of the company’s stock worth $136,365,000 after acquiring an additional 112,216 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Valaris by 55.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,300,577 shares of the company’s stock valued at $101,771,000 after acquiring an additional 821,304 shares during the period. 96.74% of the stock is owned by institutional investors.

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.