Valaris (NYSE:VAL) Price Target Lowered to $71.00 at Citigroup

Valaris (NYSE:VAL) had its price objective cut by Citigroup from $95.00 to $71.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently commented on VAL. Benchmark reiterated a buy rating and set a $90.00 target price on shares of Valaris in a research note on Monday, August 5th. Barclays decreased their price objective on shares of Valaris from $98.00 to $91.00 and set an overweight rating on the stock in a report on Friday, August 9th. Finally, Pickering Energy Partners cut shares of Valaris from an outperform rating to a neutral rating in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $91.40.

Valaris Stock Performance

Shares of VAL opened at $54.42 on Thursday. The company has a market cap of $3.96 billion, a PE ratio of 4.76 and a beta of 1.17. The firm has a 50-day moving average of $67.35 and a 200-day moving average of $70.18. Valaris has a one year low of $53.06 and a one year high of $84.20. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.73 and a quick ratio of 1.73.

Valaris (NYSE:VAL) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $1.07. The business had revenue of $610.10 million during the quarter, compared to analysts’ expectations of $545.00 million. Valaris had a return on equity of 12.58% and a net margin of 49.33%. As a group, equities analysts forecast that Valaris will post 4.37 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Davor Vukadin sold 15,403 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $56.64, for a total value of $872,425.92. Following the completion of the sale, the senior vice president now owns 13,334 shares of the company’s stock, valued at $755,237.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Davor Vukadin sold 15,403 shares of Valaris stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $56.64, for a total value of $872,425.92. Following the completion of the sale, the senior vice president now directly owns 13,334 shares in the company, valued at $755,237.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Gilles Luca sold 30,000 shares of the 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 sale, the chief operating officer now directly owns 108,342 shares in the company, valued at approximately $6,160,326.12. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of VAL. EverSource Wealth Advisors LLC grew its stake in Valaris by 180.8% during the first quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $27,000 after buying an additional 235 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Valaris by 88.3% during the 4th quarter. Assetmark Inc. now owns 1,747 shares of the company’s stock worth $120,000 after acquiring an additional 819 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Valaris during the 1st quarter worth approximately $149,000. Choreo LLC bought a new position in Valaris in the second quarter valued at approximately $204,000. Finally, Evergreen Capital Management LLC acquired a new position in Valaris during the second quarter valued at approximately $204,000. Institutional investors own 96.74% of the company’s stock.

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.