Barclays Issues Pessimistic Forecast for Valaris (NYSE:VAL) Stock Price

Valaris (NYSE:VAL) had its price target cut by Barclays from $49.00 to $46.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts have also recently issued reports on the company. Susquehanna decreased their target price on Valaris from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Citigroup upped their price objective on shares of Valaris from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. StockNews.com raised shares of Valaris to a “sell” rating in a research note on Thursday, February 20th. Evercore ISI cut shares of Valaris from an “outperform” rating to an “in-line” rating and decreased their target price for the stock from $87.00 to $59.00 in a research note on Wednesday, January 15th. Finally, JPMorgan Chase & Co. began coverage on Valaris in a report on Friday, December 6th. They set an “underweight” rating and a $40.00 price objective on the stock. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $55.00.

Valaris Stock Performance

NYSE VAL opened at $36.59 on Tuesday. The firm’s 50 day simple moving average is $45.12 and its 200 day simple moving average is $49.99. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 7.12 and a beta of 1.10. The company has a current ratio of 1.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.48. Valaris has a 1 year low of $36.55 and a 1 year high of $84.20.

Valaris (NYSE:VAL) last issued its earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.68. Valaris had a return on equity of 17.40% and a net margin of 15.81%. The firm had revenue of $584.40 million for the quarter, compared to the consensus estimate of $578.01 million. As a group, research analysts expect that Valaris will post 3.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Valaris

Several large investors have recently modified their holdings of VAL. Quarry LP acquired a new stake in Valaris in the third quarter valued at $25,000. Sterling Capital Management LLC grew its position in shares of Valaris by 518.3% in the 4th quarter. Sterling Capital Management LLC now owns 742 shares of the company’s stock valued at $33,000 after buying an additional 622 shares during the last quarter. Signaturefd LLC increased its stake in shares of Valaris by 395.0% in the fourth quarter. Signaturefd LLC now owns 1,475 shares of the company’s stock valued at $65,000 after buying an additional 1,177 shares during the period. Blue Trust Inc. raised its position in shares of Valaris by 41.0% during the fourth quarter. Blue Trust Inc. now owns 1,758 shares of the company’s stock worth $78,000 after acquiring an additional 511 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in shares of Valaris by 326.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,874 shares of the company’s stock worth $83,000 after acquiring an additional 1,435 shares during the period. Institutional investors own 96.74% of the company’s stock.

About Valaris

Valaris Limited, together with its subsidiaries, provides offshore contract drilling services Gulf of Mexico, South America, North Sea, the Middle East, Africa, and the Asia Pacific. The company operates through four segments: Floaters, Jackups, ARO, and Other. It owns an offshore drilling rig fleet, which include drillships, dynamically positioned semisubmersible rigs, moored semisubmersible rig, and jackup rigs.