Valaris (NYSE:VAL) Stock Price Up 3.5% – What’s Next?

Valaris Limited (NYSE:VAL) shot up 3.5% during trading on Thursday . The stock traded as high as $53.77 and last traded at $53.64. 496,118 shares were traded during trading, a decline of 51% from the average session volume of 1,006,242 shares. The stock had previously closed at $51.83.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Barclays decreased their target price on Valaris from $98.00 to $91.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Citigroup reduced their target price on Valaris from $95.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Benchmark reissued a “buy” rating and issued a $90.00 price objective on shares of Valaris in a research note on Monday, August 5th. Pickering Energy Partners cut shares of Valaris from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 16th. Finally, Susquehanna began coverage on shares of Valaris in a report on Tuesday, September 24th. They set a “neutral” rating and a $62.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.50.

Valaris Trading Up 4.0 %

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 has a market cap of $3.92 billion, a price-to-earnings ratio of 4.53 and a beta of 1.15. The firm’s fifty day moving average is $59.08 and its 200-day moving average is $68.44.

Valaris (NYSE:VAL) last announced its earnings results on Wednesday, July 31st. The company reported $2.03 EPS for the quarter, beating 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. Equities analysts anticipate that Valaris Limited will post 4.37 earnings per share for the current year.

Insider Buying and Selling

In other Valaris news, SVP Matthew Lyne sold 26,000 shares of Valaris stock in a transaction on Monday, September 30th. The shares were sold at an average price of $55.77, for a total value of $1,450,020.00. Following the completion of the sale, the senior vice president now directly 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 document filed with the SEC, which is accessible through this hyperlink. In other Valaris news, SVP Matthew Lyne sold 26,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $55.77, for a total value of $1,450,020.00. Following the completion of the sale, the senior vice president now owns 24,388 shares of the company’s stock, valued at approximately $1,360,118.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Gilles Luca sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $56.86, for a total value of $1,705,800.00. Following the transaction, the chief operating officer now directly owns 108,342 shares in the company, valued at $6,160,326.12. The trade was 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 ninety days. 0.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Valaris

Several hedge funds and other institutional investors have recently made changes to their positions in VAL. Fermata Advisors LLC boosted its stake in Valaris by 44.5% during the 3rd quarter. Fermata Advisors LLC now owns 4,595 shares of the company’s stock valued at $256,000 after purchasing an additional 1,416 shares during the last quarter. Systrade AG purchased a new position in shares of Valaris during the third quarter valued at approximately $1,123,000. Insight Wealth Strategies LLC grew its holdings in Valaris by 23.2% during the third quarter. Insight Wealth Strategies LLC now owns 9,174 shares of the company’s stock worth $511,000 after buying an additional 1,729 shares in the last quarter. Deane Retirement Strategies Inc. raised its position in Valaris by 0.6% in the 3rd quarter. Deane Retirement Strategies Inc. now owns 40,504 shares of the company’s stock valued at $2,259,000 after buying an additional 251 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Valaris during the 2nd quarter valued at $28,884,000. 96.74% of the stock is owned by institutional investors.

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.