Valaris (NYSE:VAL) Stock Price Down 4.3%

Valaris Limited (NYSE:VAL) shares were down 4.3% on Wednesday . The stock traded as low as $60.22 and last traded at $60.31. Approximately 177,075 shares traded hands during trading, a decline of 81% from the average daily volume of 946,056 shares. The stock had previously closed at $62.99.

Wall Street Analysts Forecast Growth

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

Valaris Price Performance

The company’s 50 day moving average is $70.60 and its 200 day moving average is $70.78. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 5.29 and a beta of 1.21.

Valaris (NYSE:VAL) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $1.07. The company had revenue of $610.10 million for 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%. Research analysts anticipate that Valaris Limited will post 4.37 EPS for the current fiscal year.

Institutional Trading of Valaris

A number of institutional investors have recently added to or reduced their stakes in the stock. Creative Planning raised its position in Valaris by 114.6% during the second quarter. Creative Planning now owns 8,599 shares of the company’s stock worth $641,000 after acquiring an additional 4,592 shares during the last quarter. Algert Global LLC acquired a new position in shares of Valaris in the second quarter valued at approximately $489,000. SkyView Investment Advisors LLC acquired a new position in shares of Valaris in the second quarter valued at approximately $224,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Valaris in the second quarter valued at approximately $3,652,000. Finally, Scientech Research LLC acquired a new position in shares of Valaris in the second quarter valued at approximately $211,000. Hedge funds and other institutional investors 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.