Valaris (NYSE:VAL) Price Target Raised to $91.00

Valaris (NYSE:VAL) had its price objective raised by Susquehanna from $86.00 to $91.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research firms have also weighed in on VAL. Weiss Ratings raised shares of Valaris from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 17th. Wall Street Zen downgraded shares of Valaris from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $76.33.

Valaris Price Performance

VAL stock traded up $2.56 during trading on Wednesday, hitting $79.88. The company had a trading volume of 752,005 shares, compared to its average volume of 791,899. The company has a fifty day moving average price of $86.48 and a two-hundred day moving average price of $86.43. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.34. The company has a market cap of $5.55 billion, a P/E ratio of 7.01 and a beta of 1.03. Valaris has a fifty-two week low of $48.08 and a fifty-two week high of $114.12.

Valaris (NYSE:VAL) last released its quarterly earnings data on Monday, November 2nd. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.40). The company had revenue of $593.60 million for the quarter, compared to analyst estimates of $562.70 million. Valaris had a return on equity of 4.26% and a net margin of 37.35%. The business’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.65 earnings per share. Equities research analysts expect that Valaris will post 3.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Valaris

Institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. increased its stake in shares of Valaris by 2.5% in the third quarter. Russell Investments Group Ltd. now owns 61,837 shares of the company’s stock valued at $4,855,000 after buying an additional 1,484 shares in the last quarter. Retirement Systems of Alabama grew its holdings in Valaris by 2.1% during the 3rd quarter. Retirement Systems of Alabama now owns 68,038 shares of the company’s stock worth $5,342,000 after acquiring an additional 1,426 shares during the last quarter. Parallel Advisors LLC grew its holdings in Valaris by 14.3% during the 3rd quarter. Parallel Advisors LLC now owns 1,266 shares of the company’s stock worth $99,000 after acquiring an additional 158 shares during the last quarter. Kestra Advisory Services LLC increased its position in Valaris by 5.6% in the 3rd quarter. Kestra Advisory Services LLC now owns 3,728 shares of the company’s stock valued at $293,000 after acquiring an additional 199 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in Valaris by 3.0% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 13,670 shares of the company’s stock valued at $1,073,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

About Valaris

Valaris plc is an offshore contract drilling company that provides drilling services to oil and gas operators worldwide. The company works with customers to support offshore exploration, appraisal and development programs in shallow-water and deepwater environments.

Valaris operates a fleet that includes drillships, semisubmersible rigs and jackup rigs. Its services include mobile offshore drilling, well construction support and related rig-management and operational services. The company’s fleet is designed to serve a range of offshore projects, from conventional shelf developments to technically demanding deepwater wells.

With operations spanning major offshore energy regions, Valaris has served customers in areas including the Gulf of Mexico, the North Sea, Brazil, West Africa, the Middle East and the Asia-Pacific region.