Valaris (NYSE:VAL) Stock Price Up 6.7% – What’s Next?

Shares of Valaris Limited (NYSE:VAL) were up 6.7% during mid-day trading on Thursday . The company traded as high as $104.14 and last traded at $102.8850. Approximately 101,846 shares were traded during trading, a decline of 94% from the average daily volume of 1,584,614 shares. The stock had previously closed at $96.38.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on VAL. BTIG Research cut Valaris from a “buy” rating to a “hold” rating in a report on Monday, March 9th. Citigroup decreased their price target on Valaris from $62.00 to $58.00 and set a “neutral” rating on the stock in a report on Monday, December 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Valaris in a research report on Wednesday, January 21st. Zacks Research lowered shares of Valaris from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Finally, Pareto Securities cut shares of Valaris from a “hold” rating to a “sell” rating and set a $80.00 price objective on the stock. in a research report on Monday, February 23rd. Ten research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Valaris has an average rating of “Reduce” and an average target price of $56.50.

Valaris Trading Up 2.5%

The company’s 50 day simple moving average is $84.99 and its 200-day simple moving average is $64.33. The firm has a market cap of $6.84 billion, a P/E ratio of 7.06 and a beta of 1.04. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.34.

Institutional Investors Weigh In On Valaris

A number of institutional investors and hedge funds have recently modified their holdings of VAL. Corient Private Wealth LLC boosted its holdings in Valaris by 85.3% during the 4th quarter. Corient Private Wealth LLC now owns 14,426 shares of the company’s stock valued at $718,000 after acquiring an additional 6,641 shares during the period. Virtu Financial LLC purchased a new stake in Valaris in the fourth quarter worth $580,000. Invesco Ltd. lifted its position in shares of Valaris by 7.6% during the fourth quarter. Invesco Ltd. now owns 510,426 shares of the company’s stock worth $25,725,000 after purchasing an additional 36,001 shares during the last quarter. Mackenzie Financial Corp bought a new stake in shares of Valaris during the fourth quarter worth $202,000. Finally, Empowered Funds LLC purchased a new stake in shares of Valaris during the fourth quarter valued at $1,324,000. 96.74% of the stock is owned by institutional investors.

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.