Valaris (NYSE:VAL) Shares Gap Down to $77.96

Shares of Valaris Limited (NYSE:VAL) gapped down before the market opened on Tuesday . The stock had previously closed at $77.96, but opened at $75.62. Valaris shares last traded at $77.14, with a volume of 140,020 shares.

Analyst Ratings Changes

Several research analysts have commented on the stock. Barclays decreased their price target on shares of Valaris from $102.00 to $98.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. StockNews.com raised shares of Valaris to a “sell” rating in a research note on Friday, April 26th. Benchmark reaffirmed a “buy” rating and issued a $90.00 target price on shares of Valaris in a research note on Thursday, May 2nd. Finally, Pickering Energy Partners downgraded shares of Valaris from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.20.

Valaris Trading Down 1.6 %

The firm has a market cap of $5.55 billion, a P/E ratio of 6.82 and a beta of 1.21. The firm’s fifty day moving average is $74.82 and its two-hundred day moving average is $70.92. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.53.

Valaris (NYSE:VAL) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.05). The company had revenue of $525.00 million during the quarter, compared to the consensus estimate of $503.00 million. Valaris had a net margin of 44.93% and a return on equity of 3.81%. Analysts predict that Valaris Limited will post 4.37 earnings per share for the current fiscal year.

Institutional Trading of Valaris

Hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its holdings in shares of Valaris by 180.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $27,000 after buying an additional 235 shares in the last quarter. Spire Wealth Management bought a new stake in shares of Valaris during the 4th quarter valued at $101,000. Assetmark Inc. boosted its holdings in shares of Valaris by 88.3% during the 4th quarter. Assetmark Inc. now owns 1,747 shares of the company’s stock valued at $120,000 after buying an additional 819 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Valaris during the 1st quarter valued at $149,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Valaris by 19.6% during the 4th quarter. SG Americas Securities LLC now owns 2,112 shares of the company’s stock valued at $145,000 after buying an additional 346 shares in the last quarter. 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.