Valaris (NYSE:VAL) Downgraded to Neutral Rating by Clarkson Capital

Clarkson Capital cut shares of Valaris (NYSE:VAL) from a buy rating to a neutral rating in a report issued on Tuesday, MarketBeat reports. Clarkson Capital currently has $54.00 price objective on the stock.

Several other brokerages also recently commented on VAL. Barclays boosted their price objective on shares of Valaris from $37.00 to $39.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. Susquehanna boosted their price objective on shares of Valaris from $46.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Wall Street Zen upgraded shares of Valaris from a “sell” rating to a “hold” rating in a research report on Saturday. Citigroup restated a “neutral” rating and set a $50.00 price objective (up from $47.00) on shares of Valaris in a research report on Thursday, July 10th. Finally, Fearnley Fonds downgraded shares of Valaris from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $47.50.

Valaris Trading Down 1.1%

Valaris stock opened at $49.12 on Tuesday. Valaris has a 52 week low of $27.15 and a 52 week high of $60.17. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.81 and a current ratio of 1.81. The stock has a market capitalization of $3.50 billion, a P/E ratio of 12.79 and a beta of 1.17. The stock has a 50-day simple moving average of $47.28 and a 200 day simple moving average of $41.03.

Valaris (NYSE:VAL) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.45. Valaris had a return on equity of 12.36% and a net margin of 11.18%.The company had revenue of $615.20 million during the quarter, compared to analysts’ expectations of $582.70 million. During the same quarter in the previous year, the company posted $2.03 earnings per share. The business’s revenue was up .8% on a year-over-year basis. Analysts expect that Valaris will post 3.96 earnings per share for the current year.

Institutional Trading of Valaris

Institutional investors have recently modified their holdings of the business. Schf GPE LLC bought a new stake in Valaris during the second quarter valued at $77,675,000. Dalal Street LLC bought a new position in shares of Valaris during the 1st quarter worth about $56,046,000. Condire Management LP boosted its position 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 purchasing an additional 665,718 shares in the last quarter. Tensile Capital Management LP bought a new position in shares of Valaris during the 1st quarter worth about $25,912,000. Finally, American Century Companies Inc. boosted its position in shares of Valaris by 491.1% during the 2nd quarter. American Century Companies Inc. now owns 681,067 shares of the company’s stock worth $28,680,000 after purchasing an additional 565,856 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.