Valaris (NYSE:VAL) Price Target Cut to $71.00 by Analysts at Citigroup

Valaris (NYSE:VAL) had its target price reduced by Citigroup from $95.00 to $71.00 in a report issued on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also issued reports on the company. Benchmark reissued a buy rating and issued a $90.00 target price on shares of Valaris in a research report on Monday, August 5th. Barclays dropped their price target on shares of Valaris from $98.00 to $91.00 and set an overweight rating for the company in a research note on Friday, August 9th. Finally, Pickering Energy Partners downgraded shares of Valaris from an outperform rating to a neutral rating in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Valaris has an average rating of Moderate Buy and an average target price of $91.40.

Valaris Stock Down 0.1 %

VAL stock opened at $54.38 on Thursday. The firm has a market cap of $3.94 billion, a PE ratio of 4.76 and a beta of 1.17. 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’s 50 day moving average price is $66.98 and its 200-day moving average price is $70.18. Valaris has a one year low of $53.06 and a one year high of $84.20.

Valaris (NYSE:VAL) last released its quarterly earnings results on Wednesday, July 31st. The company reported $2.03 EPS for the quarter, beating the consensus estimate of $0.96 by $1.07. The firm had revenue of $610.10 million for 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%. On average, equities research analysts anticipate that Valaris will post 4.37 EPS for the current year.

Insider Buying and Selling at Valaris

In other news, SVP Davor Vukadin sold 15,403 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $56.64, for a total value of $872,425.92. Following the completion of the sale, the senior vice president now directly owns 13,334 shares of the company’s stock, valued at $755,237.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Davor Vukadin sold 15,403 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 13,334 shares of the company’s stock, valued at $755,237.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the chief operating officer now directly owns 108,342 shares of the company’s stock, valued at $6,160,326.12. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its position in Valaris by 180.8% during the first quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $27,000 after buying an additional 235 shares during the period. Assetmark Inc. grew its position in Valaris by 88.3% during the fourth quarter. Assetmark Inc. now owns 1,747 shares of the company’s stock worth $120,000 after buying an additional 819 shares during the period. Headlands Technologies LLC acquired a new position in Valaris during the first quarter worth about $149,000. Evergreen Capital Management LLC acquired a new position in Valaris during the second quarter worth about $204,000. Finally, Choreo LLC acquired a new stake in shares of Valaris in the second quarter valued at approximately $204,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

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.