Valaris (NYSE:VAL) PT Lowered to $61.00 at Barclays

Valaris (NYSE:VAL) had its price objective trimmed by Barclays from $91.00 to $61.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other brokerages also recently issued reports on VAL. Susquehanna lowered their price target on Valaris from $62.00 to $61.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Benchmark lowered Valaris from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Pickering Energy Partners lowered Valaris from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 16th. Finally, Citigroup cut their price objective on Valaris from $95.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, September 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $81.33.

Valaris Trading Up 0.8 %

Valaris stock opened at $50.88 on Wednesday. The company has a 50 day moving average price of $55.77 and a 200 day moving average price of $66.59. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 3.67 and a beta of 1.15. Valaris has a 52 week low of $48.63 and a 52 week high of $84.20.

Valaris (NYSE:VAL) last released its quarterly earnings data 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. Valaris had a net margin of 49.33% and a return on equity of 12.58%. The business had revenue of $610.10 million during the quarter, compared to analyst estimates of $545.00 million. Research analysts forecast that Valaris will post 4.37 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Davor Vukadin sold 15,403 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $56.64, for a total value of $872,425.92. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Davor Vukadin sold 15,403 shares of the company’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 transaction of $872,425.92. Following 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Matthew Lyne sold 26,000 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $55.77, for a total transaction of $1,450,020.00. Following the completion of the transaction, the senior vice president now directly owns 24,388 shares of the company’s stock, valued at $1,360,118.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,403 shares of company stock valued at $4,028,246 in the last three months. 0.12% of the stock is currently owned by corporate insiders.

Institutional Trading of Valaris

A number of hedge funds have recently made changes to their positions in the business. Lee Johnson Capital Management LLC bought a new position in Valaris during the first quarter worth $7,355,000. SG Americas Securities LLC boosted its holdings in shares of Valaris by 699.3% during the first quarter. SG Americas Securities LLC now owns 16,881 shares of the company’s stock worth $1,270,000 after acquiring an additional 14,769 shares during the period. Diversify Advisory Services LLC acquired a new position in shares of Valaris in the first quarter valued at approximately $8,743,000. Virtu Financial LLC bought a new position in shares of Valaris during the first quarter worth approximately $582,000. Finally, Natixis acquired a new stake in Valaris during the 1st quarter worth approximately $730,000. 96.74% of the stock is owned by institutional investors and hedge funds.

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.