Valaris (NYSE:VAL) Price Target Lowered to $61.00 at Susquehanna

by · The Cerbat Gem

Valaris (NYSE:VAL – Get Free Report) had its price target dropped by equities researchers at Susquehanna from $62.00 to $61.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Susquehanna’s target price indicates a potential upside of 15.60% from the company’s current price.

A number of other analysts have also recently commented on VAL. Benchmark reaffirmed a “buy” rating and set a $90.00 price target on shares of Valaris in a research report on Monday, August 5th. Citigroup decreased their target price on Valaris from $95.00 to $71.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Pickering Energy Partners lowered Valaris from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 16th. Finally, Barclays reduced their price objective on shares of Valaris from $98.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.33.

Read Our Latest Stock Analysis on Valaris

Valaris Price Performance

Valaris stock opened at $52.77 on Friday. The stock has a fifty day moving average of $58.67 and a 200-day moving average of $68.34. The stock has a market capitalization of $3.82 billion, a P/E ratio of 4.66 and a beta of 1.15. Valaris has a 52 week low of $51.78 and a 52 week high of $84.20. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.73 and a current ratio of 1.73.

Valaris (NYSE:VAL – Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $1.07. The firm had revenue of $610.10 million during the quarter, compared to the consensus estimate of $545.00 million. Valaris had a net margin of 49.33% and a return on equity of 12.58%. On average, sell-side analysts expect that Valaris will post 4.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Davor Vukadin sold 15,403 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $56.64, for a total value of $872,425.92. Following the transaction, the senior vice president now owns 13,334 shares in the company, valued at $755,237.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Davor Vukadin sold 15,403 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $56.64, for a total value of $872,425.92. Following the completion of the sale, the senior vice president now owns 13,334 shares in the company, valued at $755,237.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Gilles Luca sold 30,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $56.86, for a total transaction of $1,705,800.00. Following the transaction, the chief operating officer now directly owns 108,342 shares in the company, valued at $6,160,326.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,403 shares of company stock worth $4,028,246. Insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Valaris

Institutional investors have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Valaris during the 2nd quarter valued at $28,884,000. Dimensional Fund Advisors LP increased its holdings in Valaris by 23.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company’s stock worth $88,573,000 after buying an additional 225,283 shares during the last quarter. Condire Management LP raised its position in Valaris by 14.7% in the first quarter. Condire Management LP now owns 1,452,097 shares of the company’s stock worth $109,285,000 after acquiring an additional 186,076 shares during the period. AQR Capital Management LLC raised its position in Valaris by 338.5% in the second quarter. AQR Capital Management LLC now owns 236,379 shares of the company’s stock worth $17,426,000 after acquiring an additional 182,467 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in Valaris in the second quarter valued at about $13,306,000. 96.74% of the stock is owned by institutional investors.

Valaris Company Profile

(Get Free Report)

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.

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