Valaris (NYSE:VAL) Hits New 52-Week High – Here’s Why

Valaris Limited (NYSE:VAL)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $84.37 and last traded at $83.76, with a volume of 15798043 shares trading hands. The stock had previously closed at $62.41.

Wall Street Analyst Weigh In

VAL has been the topic of a number of research analyst reports. Citigroup cut their price objective on shares of Valaris from $62.00 to $58.00 and set a “neutral” rating on the stock in a report on Monday, December 22nd. Barclays lifted their price target on shares of Valaris from $43.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 5th. Weiss Ratings restated a “hold (c)” rating on shares of Valaris in a research note on Wednesday, January 21st. BTIG Research raised their price objective on Valaris from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Zacks Research downgraded Valaris from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. One analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Valaris presently has a consensus rating of “Hold” and an average price target of $53.56.

Valaris Trading Up 0.2%

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 stock has a market capitalization of $6.17 billion, a PE ratio of 15.80 and a beta of 1.18. The business’s 50-day moving average is $56.71 and its two-hundred day moving average is $53.37.

Institutional Investors Weigh In On Valaris

A number of institutional investors have recently added to or reduced their stakes in VAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Valaris by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,689 shares of the company’s stock worth $1,440,000 after buying an additional 1,605 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Valaris by 3.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,662 shares of the company’s stock worth $5,797,000 after acquiring an additional 4,263 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Valaris by 13.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,631 shares of the company’s stock valued at $448,000 after acquiring an additional 1,301 shares during the period. Bayforest Capital Ltd boosted its position in shares of Valaris by 254.2% during the 2nd quarter. Bayforest Capital Ltd now owns 6,801 shares of the company’s stock worth $286,000 after purchasing an additional 4,881 shares in the last quarter. Finally, Mutual Advisors LLC boosted its position in shares of Valaris by 28.9% during the 2nd quarter. Mutual Advisors LLC now owns 19,897 shares of the company’s stock worth $838,000 after purchasing an additional 4,456 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

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.