Valaris (NYSE:VAL) Hits New 1-Year Low on Analyst Downgrade

Valaris Limited (NYSE:VAL)’s share price reached a new 52-week low during mid-day trading on Tuesday after Barclays lowered their price target on the stock from $49.00 to $46.00. Barclays currently has an equal weight rating on the stock. Valaris traded as low as $39.31 and last traded at $39.66, with a volume of 419876 shares. The stock had previously closed at $40.89.

Several other research firms also recently commented on VAL. Evercore ISI downgraded shares of Valaris from an “outperform” rating to an “in-line” rating and lowered their price objective for the stock from $87.00 to $59.00 in a research note on Wednesday, January 15th. Susquehanna lowered their price target on shares of Valaris from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday. JPMorgan Chase & Co. began coverage on Valaris in a research note on Friday, December 6th. They set an “underweight” rating and a $40.00 target price for the company. Citigroup lifted their price objective on shares of Valaris from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, StockNews.com upgraded Valaris to a “sell” rating in a report on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $55.00.

Hedge Funds Weigh In On Valaris

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Valaris by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 6,454,159 shares of the company’s stock valued at $285,532,000 after acquiring an additional 23,509 shares in the last quarter. Lingotto Investment Management LLP boosted its holdings in Valaris by 2.5% during the fourth quarter. Lingotto Investment Management LLP now owns 3,637,207 shares of the company’s stock worth $160,910,000 after buying an additional 87,420 shares in the last quarter. Condire Management LP boosted its stake in shares of Valaris by 34.1% during the 4th quarter. Condire Management LP now owns 2,618,678 shares of the company’s stock worth $115,850,000 after acquiring an additional 665,718 shares in the last quarter. State Street Corp increased its stake in Valaris by 4.8% in the 3rd quarter. State Street Corp now owns 2,446,006 shares of the company’s stock worth $136,365,000 after purchasing an additional 112,216 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Valaris by 55.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,300,577 shares of the company’s stock worth $101,771,000 after purchasing an additional 821,304 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Valaris Trading Down 4.4 %

The company has a 50-day moving average price of $45.38 and a 200 day moving average price of $50.36. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 7.62 and a beta of 1.10. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48.

Valaris (NYSE:VAL) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.20 by $0.68. Valaris had a return on equity of 17.40% and a net margin of 15.81%. The company had revenue of $584.40 million for the quarter, compared to the consensus estimate of $578.01 million. As a group, research analysts anticipate that Valaris Limited will post 3.96 earnings per share for the current fiscal year.

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.