Valaris (NYSE:VAL) Given New $35.00 Price Target at Barclays

Valaris (NYSE:VAL) had its price target lowered by research analysts at Barclays from $46.00 to $35.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 14.94% from the stock’s current price.

Several other research firms have also recently issued reports on VAL. Evercore ISI cut shares of Valaris from an “outperform” rating to an “in-line” rating and decreased their price objective for the company from $87.00 to $59.00 in a report on Wednesday, January 15th. Susquehanna cut their target price on Valaris from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Citigroup dropped their price objective on Valaris from $48.00 to $44.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Finally, StockNews.com upgraded Valaris to a “sell” rating in a report on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, Valaris presently has a consensus rating of “Hold” and an average price target of $52.50.

Valaris Stock Performance

Shares of NYSE VAL traded up $0.88 during midday trading on Monday, hitting $30.45. 1,675,343 shares of the company’s stock were exchanged, compared to its average volume of 1,901,878. Valaris has a twelve month low of $27.73 and a twelve month high of $84.20. The firm has a market cap of $2.16 billion, a P/E ratio of 5.92 and a beta of 1.06. The stock’s 50 day moving average price is $41.07 and its 200-day moving average price is $45.85. 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 released its quarterly earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.68. The company had revenue of $584.40 million during the quarter, compared to analysts’ expectations of $578.01 million. Valaris had a return on equity of 17.40% and a net margin of 15.81%. Equities research analysts anticipate that Valaris will post 3.96 EPS for the current year.

Institutional Investors Weigh In On Valaris

A number of institutional investors and hedge funds have recently modified their holdings of VAL. Hara Capital LLC increased its stake in Valaris by 65.1% in the 4th quarter. Hara Capital LLC now owns 94,193 shares of the company’s stock worth $4,167,000 after purchasing an additional 37,158 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Valaris by 14.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 143,399 shares of the company’s stock valued at $6,344,000 after acquiring an additional 18,107 shares during the period. Teza Capital Management LLC purchased a new stake in shares of Valaris in the 4th quarter valued at approximately $923,000. Point72 Asset Management L.P. boosted its stake in Valaris by 376.7% in the 4th quarter. Point72 Asset Management L.P. now owns 96,023 shares of the company’s stock worth $4,248,000 after purchasing an additional 130,723 shares during the period. Finally, ProShare Advisors LLC grew its position in Valaris by 38.4% during the 4th quarter. ProShare Advisors LLC now owns 20,430 shares of the company’s stock worth $904,000 after purchasing an additional 5,665 shares in the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

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.