Valaris (NYSE:VAL) Receives “Neutral” Rating from Citigroup

Valaris (NYSE:VAL)‘s stock had its “neutral” rating reaffirmed by research analysts at Citigroup in a research report issued on Wednesday, Marketbeat Ratings reports. They presently have a $47.00 price target on the stock, up from their previous price target of $44.00. Citigroup’s price target would indicate a potential upside of 3.00% from the stock’s previous close.

A number of other research firms have also commented on VAL. Barclays lifted their price target on shares of Valaris from $35.00 to $37.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Susquehanna dropped their price target on shares of Valaris from $47.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Evercore ISI dropped their price target on shares of Valaris from $55.00 to $50.00 and set an “in-line” rating on the stock in a research report on Friday, May 2nd. Finally, Wall Street Zen raised shares of Valaris to a “sell” rating in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $49.67.

Valaris Trading Down 1.6%

NYSE:VAL opened at $45.63 on Wednesday. Valaris has a 12 month low of $27.15 and a 12 month high of $84.20. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 10.71 and a beta of 1.13. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $37.28 and its 200-day moving average is $40.47.

Valaris (NYSE:VAL) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($1.63). Valaris had a net margin of 12.61% and a return on equity of 14.14%. The firm had revenue of $620.70 million during the quarter, compared to the consensus estimate of $582.87 million. Valaris’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities analysts anticipate that Valaris will post 3.96 EPS for the current year.

Hedge Funds Weigh In On Valaris

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP boosted its stake in Valaris by 51.7% during the fourth quarter. Quarry LP now owns 684 shares of the company’s stock worth $30,000 after buying an additional 233 shares in the last quarter. Arizona State Retirement System boosted its stake in Valaris by 1.3% during the fourth quarter. Arizona State Retirement System now owns 19,002 shares of the company’s stock worth $841,000 after buying an additional 237 shares in the last quarter. Bayforest Capital Ltd boosted its stake in Valaris by 17.2% during the first quarter. Bayforest Capital Ltd now owns 1,920 shares of the company’s stock worth $75,000 after buying an additional 282 shares in the last quarter. Xponance Inc. boosted its stake in Valaris by 5.5% during the fourth quarter. Xponance Inc. now owns 9,273 shares of the company’s stock worth $410,000 after buying an additional 487 shares in the last quarter. Finally, State of Michigan Retirement System boosted its stake in Valaris by 3.3% during the fourth quarter. State of Michigan Retirement System now owns 15,500 shares of the company’s stock worth $686,000 after buying an additional 500 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

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.