Valaris (NYSE:VAL) Shares Down 4.6% – What’s Next?
by Doug Wharley · The Cerbat GemValaris Limited (NYSE:VAL – Get Free Report)’s share price fell 4.6% on Tuesday . The stock traded as low as $94.74 and last traded at $94.5050. 270,858 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 1,511,866 shares. The stock had previously closed at $99.07.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on VAL. Weiss Ratings reiterated a “hold (c)” rating on shares of Valaris in a research note on Wednesday, January 21st. Susquehanna lifted their price objective on shares of Valaris from $96.00 to $98.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 7th. Pareto Securities cut shares of Valaris from a “hold” rating to a “sell” rating and set a $80.00 price objective for the company. in a research note on Monday, February 23rd. Zacks Research cut shares of Valaris from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Finally, BTIG Research cut shares of Valaris from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. Ten equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $61.72.
Check Out Our Latest Stock Analysis on Valaris
Valaris Trading Down 5.8%
The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a market capitalization of $6.46 billion, a P/E ratio of 6.69 and a beta of 1.04. The firm’s fifty day simple moving average is $91.63 and its 200 day simple moving average is $67.07.
Hedge Funds Weigh In On Valaris
Several hedge funds have recently bought and sold shares of VAL. Schf GPE LLC bought a new position in Valaris in the 2nd quarter valued at about $77,675,000. American Century Companies Inc. increased its holdings in Valaris by 87.1% in the 3rd quarter. American Century Companies Inc. now owns 1,274,038 shares of the company’s stock valued at $62,135,000 after buying an additional 592,971 shares during the period. ANTIPODES PARTNERS Ltd grew its holdings in shares of Valaris by 8,034.0% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 580,198 shares of the company’s stock valued at $28,298,000 after purchasing an additional 573,065 shares during the last quarter. Goehring & Rozencwajg Associates LLC increased its position in Valaris by 108.9% during the 3rd quarter. Goehring & Rozencwajg Associates LLC now owns 902,440 shares of the company’s stock worth $44,012,000 after purchasing an additional 470,419 shares in the last quarter. Finally, Norges Bank acquired a new position in Valaris during the 4th quarter worth approximately $23,581,000. 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.