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

Valaris (NYSE:VAL) had its price objective lowered by analysts at Barclays from $46.00 to $35.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 21.11% from the company’s previous close.

VAL has been the topic of a number of other reports. Evercore ISI downgraded 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 report on Wednesday, January 15th. Citigroup decreased their price objective on shares of Valaris from $48.00 to $44.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. StockNews.com upgraded shares of Valaris to a “sell” rating in a report on Thursday, February 20th. Finally, Susquehanna reduced their price target on shares of Valaris from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, Valaris has a consensus rating of “Hold” and an average target price of $52.50.

Valaris Price Performance

Valaris stock opened at $28.90 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.61 and a current ratio of 1.59. Valaris has a one year low of $27.73 and a one year high of $84.20. The company has a market cap of $2.05 billion, a P/E ratio of 5.62 and a beta of 1.06. The business has a fifty day moving average of $39.98 and a two-hundred day moving average of $45.37.

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

Hedge Funds Weigh In On Valaris

Institutional investors and hedge funds have recently modified their holdings of the company. Lingotto Investment Management LLP lifted its stake in shares of Valaris by 2.5% during the 4th quarter. Lingotto Investment Management LLP now owns 3,637,207 shares of the company’s stock worth $160,910,000 after purchasing an additional 87,420 shares during the period. Aigen Investment Management LP purchased a new position in Valaris during the fourth quarter worth about $611,000. Waverton Investment Management Ltd boosted its stake in Valaris by 12.7% in the 4th quarter. Waverton Investment Management Ltd now owns 756,135 shares of the company’s stock worth $33,451,000 after buying an additional 85,250 shares during the last quarter. Hosking Partners LLP grew its holdings in Valaris by 33.6% in the 4th quarter. Hosking Partners LLP now owns 341,842 shares of the company’s stock valued at $15,123,000 after buying an additional 85,891 shares during the period. Finally, Tejara Capital Ltd increased its stake in shares of Valaris by 93.0% during the 4th quarter. Tejara Capital Ltd now owns 112,405 shares of the company’s stock valued at $4,973,000 after acquiring an additional 54,173 shares during the last quarter. Hedge funds and other 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.