Valaris’ (VAL) Buy Rating Reaffirmed at Benchmark

Benchmark reissued their buy rating on shares of Valaris (NYSE:VAL) in a research note issued to investors on Tuesday morning, Benzinga reports. Benchmark currently has a $90.00 price target on the stock.

Other analysts also recently issued reports about the company. Citigroup decreased their price target on Valaris from $113.00 to $103.00 and set a buy rating for the company in a research report on Tuesday, October 10th. TheStreet downgraded Valaris from a b- rating to a c rating in a research report on Wednesday, August 2nd. Finally, Barclays raised their target price on Valaris from $80.00 to $84.00 and gave the stock an equal weight rating in a research report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $91.75.

Valaris Stock Down 2.3 %

VAL stock opened at $65.39 on Tuesday. Valaris has a twelve month low of $54.13 and a twelve month high of $80.00. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.54. The stock’s 50 day moving average is $72.08 and its 200-day moving average is $67.64. The firm has a market capitalization of $4.84 billion, a PE ratio of 41.39 and a beta of 1.32.

Institutional Trading of Valaris

A number of large investors have recently bought and sold shares of VAL. Fifth Third Bancorp boosted its holdings in shares of Valaris by 120.1% in the third quarter. Fifth Third Bancorp now owns 394 shares of the company’s stock worth $30,000 after acquiring an additional 215 shares during the period. Fortis Capital Advisors LLC bought a new position in shares of Valaris in the first quarter worth $26,000. Belpointe Asset Management LLC bought a new position in shares of Valaris in the first quarter worth $27,000. Princeton Global Asset Management LLC bought a new position in shares of Valaris in the third quarter worth $37,000. Finally, Trivant Custom Portfolio Group LLC bought a new position in shares of Valaris in the first quarter worth $59,000. 89.57% of the stock is owned by hedge funds and other institutional investors.

About Valaris

Valaris Limited provides offshore contract drilling services to the international oil and gas industry. The company owns an offshore drilling rig fleet, which include drillships, dynamically positioned semisubmersible rigs, moored semisubmersible rig, and jackup rigs. It serves international, government-owned, and independent oil and gas companies in the Gulf of Mexico, South America, the North Sea, the Middle East, Africa, and Asia Pacific.