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

Valaris (NYSE:VAL) had its target price cut by Susquehanna from $62.00 to $61.00 in a research report report published on Friday, Benzinga reports. They currently have a neutral rating on the stock.

VAL has been the subject of a number of other research reports. Barclays reduced their price objective on Valaris from $98.00 to $91.00 and set an overweight rating for the company in a research note on Friday, August 9th. Citigroup decreased their price target on shares of 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 shares of Valaris from an outperform rating to a neutral rating in a research note on Tuesday, July 16th. Finally, Benchmark reiterated a buy rating and set a $90.00 target price on shares of Valaris in a research note on Monday, August 5th. 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, Valaris presently has an average rating of Moderate Buy and a consensus price target of $86.33.

Valaris Trading Down 0.7 %

NYSE VAL opened at $52.93 on Friday. Valaris has a 12 month low of $51.78 and a 12 month high of $84.20. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of 3.82 and a beta of 1.15. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.73 and a quick ratio of 1.73. The firm’s fifty day moving average price is $58.38 and its 200 day moving average price is $68.14.

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. Valaris had a return on equity of 12.58% and a net margin of 49.33%. The company had revenue of $610.10 million for the quarter, compared to analyst estimates of $545.00 million. On average, sell-side analysts expect that Valaris will post 4.37 earnings per share for the current fiscal year.

Insider Activity

In other Valaris news, SVP Davor Vukadin sold 15,403 shares of the business’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 transaction, the senior vice president now owns 13,334 shares in the company, valued at approximately $755,237.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Matthew Lyne sold 26,000 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 24,388 shares of the company’s stock, valued at approximately $1,360,118.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Davor Vukadin sold 15,403 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $56.64, for a total transaction of $872,425.92. Following the completion of the transaction, the senior vice president now directly owns 13,334 shares of the company’s stock, valued at approximately $755,237.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,403 shares of company stock valued at $4,028,246 over the last quarter. Corporate insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Valaris

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