Valaris (NYSE:VAL) Sets New 1-Year High – Here’s Why

Valaris Limited (NYSE:VAL) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $56.93 and last traded at $56.50, with a volume of 3150184 shares. The stock had previously closed at $49.51.

Analyst Upgrades and Downgrades

VAL has been the subject of several recent analyst reports. Citigroup upped their price objective on shares of Valaris from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. BTIG Research reaffirmed a “buy” rating on shares of Valaris in a report on Monday, July 14th. Clarkson Capital lowered shares of Valaris from a “buy” rating to a “neutral” rating and set a $54.00 price target on the stock. in a research report on Tuesday, September 2nd. Barclays raised their price target on shares of Valaris from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Valaris in a research report on Friday. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $48.69.

Valaris Stock Up 0.7%

The business’s fifty day moving average price is $50.13 and its 200 day moving average price is $44.46. The company has a market capitalization of $4.04 billion, a P/E ratio of 14.77 and a beta of 1.15. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.46.

Valaris (NYSE:VAL) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.45. The company had revenue of $615.20 million during the quarter, compared to the consensus estimate of $582.70 million. Valaris had a net margin of 11.18% and a return on equity of 12.36%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm earned $2.03 EPS. As a group, equities research analysts predict that Valaris Limited will post 3.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Valaris

A number of hedge funds have recently made changes to their positions in the company. Lingotto Investment Management LLP increased its position in shares of Valaris by 1.1% during the 2nd quarter. Lingotto Investment Management LLP now owns 3,655,900 shares of the company’s stock worth $153,950,000 after purchasing an additional 38,579 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Valaris by 20.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,761,369 shares of the company’s stock worth $108,412,000 after purchasing an additional 460,792 shares in the last quarter. Dalal Street LLC increased its position in shares of Valaris by 32.0% during the 2nd quarter. Dalal Street LLC now owns 1,883,777 shares of the company’s stock worth $79,326,000 after purchasing an additional 456,213 shares in the last quarter. Schf GPE LLC acquired a new stake in shares of Valaris during the 2nd quarter worth about $77,675,000. Finally, Geode Capital Management LLC increased its position in shares of Valaris by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,592,885 shares of the company’s stock worth $67,084,000 after purchasing an additional 52,367 shares in the last quarter. Institutional investors and hedge funds 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.