Valaris (NYSE:VAL) Given New $80.00 Price Target at Susquehanna

Valaris (NYSE:VAL) had its target price increased by Susquehanna from $75.00 to $80.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Valaris in a research note on Monday. Eight investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $60.94.

Valaris Trading Up 2.2%

NYSE:VAL opened at $78.88 on Friday. The stock has a market cap of $5.46 billion, a PE ratio of 5.89 and a beta of 0.94. Valaris has a fifty-two week low of $43.53 and a fifty-two week high of $114.12. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.55 and a quick ratio of 1.55. The stock’s 50-day moving average is $80.09 and its two-hundred day moving average is $86.10.

Valaris (NYSE:VAL) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.41. The business had revenue of $539.20 million during the quarter, compared to analyst estimates of $488.52 million. Valaris had a net margin of 43.95% and a return on equity of 9.25%. The firm’s revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.61 earnings per share. As a group, equities research analysts forecast that Valaris will post 3.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Valaris

Institutional investors have recently bought and sold shares of the stock. Schf GPE LLC bought a new position in shares of Valaris in the second quarter valued at approximately $77,675,000. Whitebox Advisors LLC bought a new stake in shares of Valaris during the 1st quarter worth $57,249,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Valaris by 67.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,363,230 shares of the company’s stock worth $133,651,000 after buying an additional 550,987 shares during the period. Norges Bank acquired a new position in Valaris in the 4th quarter valued at $23,581,000. Finally, Ameriprise Financial Inc. grew its stake in Valaris by 212.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 470,076 shares of the company’s stock valued at $22,926,000 after buying an additional 319,780 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.

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.