Valaris (NYSE:VAL) Hits New 12-Month Low – Here’s What Happened

Valaris Limited (NYSE:VAL)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $30.59 and last traded at $30.25, with a volume of 1322601 shares. The stock had previously closed at $34.50.

Wall Street Analyst Weigh In

VAL has been the topic of a number of recent research reports. Susquehanna dropped their target price on Valaris from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Evercore ISI cut shares of Valaris from an “outperform” rating to an “in-line” rating and reduced their target price for the stock from $87.00 to $59.00 in a report on Wednesday, January 15th. Citigroup decreased their target price on shares of Valaris from $48.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Barclays cut their price target on Valaris from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 25th. Finally, StockNews.com raised Valaris to a “sell” rating in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $54.33.

Valaris Stock Down 14.5 %

The business’s fifty day simple moving average is $41.07 and its two-hundred day simple moving average is $45.92. The company has a market cap of $2.09 billion, a PE ratio of 5.74 and a beta of 1.06. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.59 and a quick ratio of 1.61.

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

Institutional Investors Weigh In On Valaris

Large investors have recently bought and sold shares of the company. Quarry LP purchased a new position in shares of Valaris in the third quarter valued at approximately $25,000. Sterling Capital Management LLC raised its stake in Valaris by 518.3% in the 4th quarter. Sterling Capital Management LLC now owns 742 shares of the company’s stock valued at $33,000 after purchasing an additional 622 shares during the last quarter. Signaturefd LLC raised its stake in Valaris by 395.0% in the 4th quarter. Signaturefd LLC now owns 1,475 shares of the company’s stock valued at $65,000 after purchasing an additional 1,177 shares during the last quarter. Blue Trust Inc. lifted its holdings in Valaris by 41.0% in the 4th quarter. Blue Trust Inc. now owns 1,758 shares of the company’s stock valued at $78,000 after purchasing an additional 511 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Valaris by 326.9% during the 4th quarter. Quadrant Capital Group LLC now owns 1,874 shares of the company’s stock worth $83,000 after purchasing an additional 1,435 shares during the last quarter. 96.74% of the stock is currently owned by hedge funds and other 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.