Valaris (NYSE:VAL) Given New $58.00 Price Target at Citigroup

Valaris (NYSE:VAL) had its price objective decreased by Citigroup from $62.00 to $58.00 in a research report sent to investors on Monday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other equities analysts have also weighed in on VAL. Barclays increased their price objective on shares of Valaris from $43.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Valaris in a research report on Wednesday, October 8th. Zacks Research upgraded Valaris from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Wall Street Zen raised shares of Valaris from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Clarkson Capital downgraded Valaris from a “buy” rating to a “neutral” rating and set a $54.00 target price for the company. in a research report on Tuesday, September 2nd. One investment analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Valaris currently has an average rating of “Hold” and an average price target of $53.56.

Valaris Price Performance

Shares of NYSE VAL opened at $49.84 on Monday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average price is $54.69 and its two-hundred day moving average price is $50.41. The company has a market cap of $3.47 billion, a PE ratio of 8.88 and a beta of 1.16. Valaris has a twelve month low of $27.15 and a twelve month high of $61.70.

Valaris (NYSE:VAL) last posted its earnings results on Wednesday, October 29th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $1.65. Valaris had a return on equity of 17.27% and a net margin of 16.51%.The business had revenue of $595.70 million for the quarter, compared to analyst estimates of $568.41 million. Valaris’s revenue was down 7.4% compared to the same quarter last year. On average, analysts predict that Valaris will post 3.96 EPS for the current year.

Hedge Funds Weigh In On Valaris

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Schf GPE LLC bought a new position in shares of Valaris during the 2nd quarter worth about $77,675,000. Tensile Capital Management LP acquired a new position in Valaris during the 1st quarter worth approximately $25,912,000. American Century Companies Inc. boosted its holdings in Valaris by 87.1% in the third quarter. American Century Companies Inc. now owns 1,274,038 shares of the company’s stock worth $62,135,000 after acquiring an additional 592,971 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its stake in Valaris by 8,034.0% in the third quarter. ANTIPODES PARTNERS Ltd now owns 580,198 shares of the company’s stock valued at $28,298,000 after acquiring an additional 573,065 shares during the period. Finally, Goehring & Rozencwajg Associates LLC increased its holdings in shares of Valaris by 108.9% during the third quarter. Goehring & Rozencwajg Associates LLC now owns 902,440 shares of the company’s stock valued at $44,012,000 after acquiring an additional 470,419 shares in the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

About Valaris

Valaris PLC is a leading provider of offshore drilling services to the global energy industry. The company operates a diverse fleet of mobile offshore drilling units, including drillships, semisubmersibles and jackup rigs, designed to support exploration and production activities in deepwater, ultra-deepwater and harsh‐environment settings. Valaris serves a wide range of international oil and gas customers, offering turnkey drilling solutions, project management and advanced technology integration to enhance operational efficiency and safety.

Headquartered in Houston, Texas, Valaris maintains a significant presence in key offshore basins around the world.