Valaris (NYSE:VAL) Trading 4.2% Higher – Should You Buy?

Shares of Valaris Limited (NYSE:VAL) traded up 4.2% during trading on Monday . The stock traded as high as $42.80 and last traded at $42.75. 592,856 shares changed hands during trading, a decline of 48% from the average session volume of 1,133,187 shares. The stock had previously closed at $41.04.

Analysts Set New Price Targets

Several analysts recently issued reports on VAL shares. Benchmark downgraded Valaris from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Barclays restated an “equal weight” rating and issued a $49.00 price target (down previously from $59.00) on shares of Valaris in a report on Wednesday, December 18th. JPMorgan Chase & Co. assumed coverage on shares of Valaris in a research note on Friday, December 6th. They issued an “underweight” rating and a $40.00 target price for the company. Susquehanna cut their price objective on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, Citigroup downgraded Valaris from a “buy” rating to a “neutral” rating and lowered their target price for the company from $58.00 to $47.00 in a research note on Monday, December 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Valaris currently has a consensus rating of “Hold” and an average target price of $64.33.

Valaris Stock Up 4.4 %

The stock has a 50 day moving average of $46.67 and a 200 day moving average of $58.33. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 2.94 and a beta of 1.09. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.51.

Hedge Funds Weigh In On Valaris

A number of large investors have recently bought and sold shares of the business. Quarry LP acquired a new position in shares of Valaris during the third quarter valued at $25,000. Evergreen Capital Management LLC acquired a new position in Valaris during the 2nd quarter valued at about $204,000. Choreo LLC bought a new position in Valaris in the 2nd quarter worth about $204,000. Scientech Research LLC acquired a new stake in shares of Valaris in the second quarter valued at approximately $211,000. Finally, SkyView Investment Advisors LLC bought a new stake in shares of Valaris during the second quarter valued at approximately $224,000. Institutional investors 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.