Valaris (NYSE:VAL) Downgraded to Sell at StockNews.com

Valaris (NYSE:VAL – Get Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

NYSE VAL opened at $56.50 on Friday. The stock’s fifty day moving average price is $52.25. Valaris has a 52 week low of $20.56 and a 52 week high of $61.70. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.24 and a current ratio of 2.24.

Valaris (NYSE:VAL – Get Rating) last posted its earnings results on Monday, February 21st. The company reported $0.37 EPS for the quarter. The business had revenue of $305.50 million for the quarter. Valaris had a negative net margin of 291.76% and a negative return on equity of 344.10%.

A number of hedge funds have recently bought and sold shares of the business. Amitell Capital Pte Ltd acquired a new position in Valaris in the first quarter worth approximately $1,367,000. CI Investments Inc. lifted its position in shares of Valaris by 34.6% during the first quarter. CI Investments Inc. now owns 1,750 shares of the company’s stock worth $91,000 after purchasing an additional 450 shares in the last quarter. FORA Capital LLC acquired a new position in Valaris in the first quarter valued at approximately $218,000. Swiss National Bank raised its holdings in Valaris by 7.4% in the first quarter. Swiss National Bank now owns 62,100 shares of the company’s stock worth $3,227,000 after purchasing an additional 4,300 shares during the period. Finally, Seven Eight Capital LP bought a new stake in shares of Valaris during the first quarter worth $324,000. 80.47% of the stock is owned by institutional investors.

About Valaris (Get Rating)

Valaris Limited offers offshore contract drilling services to oil and gas industry in Bermuda and internationally. The company owns an offshore drilling rig fleet of 56 rigs, which include 11 drillships, 4 dynamically positioned semisubmersible rigs, 1 moored semisubmersible rig, and 40 jackup rigs. It serves international, government-owned, and independent oil and gas companies in the Gulf of Mexico, the North Sea, the Middle East, West Africa, Australia, and Southeast Asia.

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