Valaris (NYSE:VAL) Stock Price Expected to Rise, Susquehanna Analyst Says

by · The Markets Daily

Valaris (NYSE:VAL – Get Free Report) had its target price boosted by equities researchers at Susquehanna from $86.00 to $91.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Susquehanna‘s price target suggests a potential upside of 1.01% from the company’s current price.

VAL has been the topic of a number of other reports. Wall Street Zen downgraded shares of Valaris from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings raised shares of Valaris from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 17th. Six research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $69.75.

Read Our Latest Analysis on Valaris

Valaris Trading Down 4.9%

VAL stock opened at $90.09 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.55 and a quick ratio of 1.55. Valaris has a 1-year low of $48.08 and a 1-year high of $114.12. The business has a 50 day simple moving average of $86.78 and a two-hundred day simple moving average of $86.05. The company has a market capitalization of $6.26 billion, a price-to-earnings ratio of 7.90 and a beta of 1.03.

Valaris (NYSE:VAL – Get Free Report) 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). Valaris had a net margin of 37.35% and a return on equity of 4.26%. The company had revenue of $593.60 million for the quarter, compared to the consensus estimate of $562.70 million. During the same quarter in the previous year, the business earned $2.65 EPS. The company’s quarterly revenue was down .4% on a year-over-year basis. Research analysts anticipate that Valaris will post 3.25 EPS for the current fiscal year.

Institutional Trading of Valaris

Several hedge funds have recently modified their holdings of VAL. Parallel Advisors LLC boosted its stake in Valaris by 14.3% during the third quarter. Parallel Advisors LLC now owns 1,266 shares of the company’s stock worth $99,000 after buying an additional 158 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Valaris by 0.5% in the first quarter. PNC Financial Services Group Inc. now owns 31,465 shares of the company’s stock valued at $3,085,000 after acquiring an additional 169 shares during the period. Kestra Advisory Services LLC raised its stake in shares of Valaris by 5.6% in the third 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 during the period. State of Michigan Retirement System raised its stake in shares of Valaris by 1.3% in the first quarter. State of Michigan Retirement System now owns 15,500 shares of the company’s stock valued at $1,520,000 after acquiring an additional 200 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Valaris by 7.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,030 shares of the company’s stock worth $238,000 after acquiring an additional 201 shares during the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

About Valaris

(Get Free Report)

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.

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