Brokerages Set Valaris Limited (NYSE:VAL) Target Price at $64.33

Shares of Valaris Limited (NYSE:VAL) have been assigned an average rating of “Hold” from the seven ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $64.33.

A number of equities analysts have weighed in on VAL shares. Barclays reaffirmed an “equal weight” rating and set a $49.00 price target (down previously from $59.00) on shares of Valaris in a research report on Wednesday, December 18th. Benchmark downgraded shares of Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. initiated coverage on shares of Valaris in a research report on Friday, December 6th. They set an “underweight” rating and a $40.00 price target on the stock. Citigroup cut Valaris from a “buy” rating to a “neutral” rating and reduced their price target for the company from $58.00 to $47.00 in a research report on Monday, December 9th. Finally, Susquehanna lowered their price target on Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st.

Valaris Stock Down 0.5 %

VAL stock opened at $44.74 on Wednesday. The business has a 50-day moving average of $46.17 and a 200-day moving average of $57.72. Valaris has a fifty-two week low of $39.90 and a fifty-two week high of $84.20. The stock has a market capitalization of $3.18 billion, a P/E ratio of 3.07 and a beta of 1.09. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.61.

Hedge Funds Weigh In On Valaris

Large investors have recently modified their holdings of the stock. Quarry LP bought a new stake in shares of Valaris during the 3rd quarter worth about $25,000. Choreo LLC acquired a new stake in Valaris during the second quarter worth approximately $204,000. Evergreen Capital Management LLC bought a new stake in shares of Valaris during the second quarter worth approximately $204,000. Scientech Research LLC acquired a new position in shares of Valaris in the second quarter valued at approximately $211,000. Finally, SkyView Investment Advisors LLC bought a new position in shares of Valaris during the second quarter worth approximately $224,000. 96.74% of the stock is owned by institutional investors.

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.