Valaris (NYSE:VAL) Reaches New 1-Year Low at $58.28

Shares of Valaris Limited (NYSE:VAL) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $58.28 and last traded at $58.46, with a volume of 232041 shares trading hands. The stock had previously closed at $61.06.

Analysts Set New Price Targets

Several research firms recently commented on VAL. Barclays dropped their price objective on Valaris from $98.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Pickering Energy Partners downgraded shares of Valaris from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 16th. Finally, Benchmark reaffirmed a “buy” rating and issued a $90.00 target price on shares of Valaris in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $97.80.

Valaris Stock Down 5.5 %

The company has a market capitalization of $4.20 billion, a PE ratio of 5.26 and a beta of 1.17. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average of $70.13 and a two-hundred day moving average of $70.80.

Valaris (NYSE:VAL) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $0.96 by $1.07. The company had revenue of $610.10 million during the quarter, compared to the consensus estimate of $545.00 million. Valaris had a return on equity of 12.58% and a net margin of 49.33%. Equities research analysts predict that Valaris Limited will post 4.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in Valaris by 180.8% in the first quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $27,000 after purchasing 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 approximately $101,000. Assetmark Inc. lifted its position in shares of Valaris by 88.3% in the 4th quarter. Assetmark Inc. now owns 1,747 shares of the company’s stock worth $120,000 after purchasing an additional 819 shares during the period. Headlands Technologies LLC acquired a new position in shares of Valaris during the 1st quarter valued at $149,000. Finally, Choreo LLC purchased a new position in Valaris during the second quarter worth about $204,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Valaris Company Profile

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.