Valaris’ (VAL) “Buy” Rating Reaffirmed at Benchmark

Benchmark reiterated their buy rating on shares of Valaris (NYSE:VAL) in a report released on Thursday morning, Benzinga reports. They currently have a $90.00 price objective on the stock.

Several other research analysts have also recently commented on VAL. TheStreet upgraded shares of Valaris from a c rating to a b- rating in a report on Thursday, February 22nd. StockNews.com raised Valaris to a sell rating in a report on Friday, April 26th. Barclays cut their price objective on shares of Valaris from $105.00 to $102.00 and set an overweight rating on the stock in a report on Tuesday, March 5th. Finally, Evercore ISI lowered their target price on shares of Valaris from $107.00 to $105.00 and set an outperform rating for the company in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Valaris has an average rating of Moderate Buy and a consensus price target of $100.00.

Valaris Trading Up 4.9 %

Valaris stock traded up $3.20 during midday trading on Thursday, reaching $68.25. 1,181,716 shares of the stock traded hands, compared to its average volume of 787,739. The company has a current ratio of 1.57, a quick ratio of 1.71 and a debt-to-equity ratio of 0.53. The firm has a market cap of $4.94 billion, a PE ratio of 5.97 and a beta of 1.20. The company has a 50-day simple moving average of $69.74 and a two-hundred day simple moving average of $67.87. Valaris has a 12-month low of $54.13 and a 12-month high of $78.92.

Valaris (NYSE:VAL) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). The business had revenue of $525.00 million during the quarter, compared to analysts’ expectations of $503.00 million. Valaris had a net margin of 44.93% and a return on equity of 3.81%. Research analysts expect that Valaris will post 4.75 earnings per share for the current fiscal year.

Institutional Trading of Valaris

Large investors have recently bought and sold shares of the business. General American Investors Co. Inc. acquired a new position in Valaris in the 1st quarter valued at about $10,243,000. Hosking Partners LLP increased its stake in shares of Valaris by 0.4% during the first quarter. Hosking Partners LLP now owns 237,468 shares of the company’s stock worth $17,872,000 after acquiring an additional 990 shares during the period. Janney Montgomery Scott LLC raised its holdings in Valaris by 29.1% during the first quarter. Janney Montgomery Scott LLC now owns 29,566 shares of the company’s stock worth $2,225,000 after purchasing an additional 6,658 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in Valaris in the first quarter valued at about $8,743,000. Finally, Retirement Systems of Alabama lifted its position in Valaris by 8.2% in the first quarter. Retirement Systems of Alabama now owns 187,822 shares of the company’s stock valued at $14,135,000 after purchasing an additional 14,206 shares during the period. 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.