Valaris (NYSE:VAL) Cut to Hold at Zacks Research

Zacks Research lowered shares of Valaris (NYSE:VAL) from a strong-buy rating to a hold rating in a report released on Wednesday,Zacks.com reports.

Other analysts have also recently issued research reports about the company. Citigroup dropped their target price on Valaris from $62.00 to $58.00 and set a “neutral” rating on the stock in a research report on Monday, December 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Valaris in a research note on Wednesday, January 21st. BTIG Research boosted their target price on shares of Valaris from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Barclays raised their price target on shares of Valaris from $43.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Finally, Susquehanna lifted their price objective on shares of Valaris from $49.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $53.56.

Valaris Trading Down 1.9%

NYSE VAL opened at $57.68 on Wednesday. Valaris has a one year low of $27.15 and a one year high of $61.70. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.87 and a current ratio of 1.87. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 10.28 and a beta of 1.17. The company’s 50-day simple moving average is $54.18 and its two-hundred day simple moving average is $51.93.

Valaris (NYSE:VAL) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $1.00 by $1.65. The firm had revenue of $595.70 million during the quarter, compared to analysts’ expectations of $568.41 million. Valaris had a net margin of 16.51% and a return on equity of 17.27%. The company’s revenue was down 7.4% compared to the same quarter last year. Equities analysts forecast that Valaris will post 3.96 EPS for the current fiscal year.

Institutional Trading of Valaris

Several large investors have recently bought and sold shares of VAL. Blume Capital Management Inc. lifted its stake in shares of Valaris by 56.5% during the second quarter. Blume Capital Management Inc. now owns 665 shares of the company’s stock worth $28,000 after buying an additional 240 shares during the period. UMB Bank n.a. lifted its position in Valaris by 50.5% during the 3rd quarter. UMB Bank n.a. now owns 778 shares of the company’s stock worth $38,000 after acquiring an additional 261 shares during the period. Fifth Third Bancorp grew its stake in Valaris by 77.9% during the 2nd quarter. Fifth Third Bancorp now owns 822 shares of the company’s stock valued at $35,000 after purchasing an additional 360 shares during the last quarter. Wexford Capital LP acquired a new position in shares of Valaris in the third quarter valued at about $41,000. Finally, Signaturefd LLC raised its stake in shares of Valaris by 45.4% in the second quarter. Signaturefd LLC now owns 916 shares of the company’s stock worth $39,000 after purchasing an additional 286 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Valaris Company Profile

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.