Valaris (NYSE:VAL) Earns “Neutral” Rating from Citigroup

Valaris (NYSE:VALGet Free Report)‘s stock had its “neutral” rating reissued by research analysts at Citigroup in a research note issued to investors on Wednesday, Marketbeat reports. They currently have a $47.00 price target on the stock, up from their prior price target of $44.00. Citigroup’s price target would indicate a potential upside of 3.00% from the stock’s previous close.

A number of other brokerages have also recently issued reports on VAL. Barclays lifted their price objective on Valaris from $35.00 to $37.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Susquehanna cut their price objective on Valaris from $47.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Evercore ISI cut their price target on Valaris from $55.00 to $50.00 and set an “in-line” rating for the company in a report on Friday, May 2nd. Finally, Wall Street Zen raised Valaris to a “sell” rating in a report on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $49.67.

Get Our Latest Stock Report on VAL

Valaris Stock Down 1.6%

Shares of NYSE VAL opened at $45.63 on Wednesday. The stock has a market cap of $3.24 billion, a PE ratio of 10.71 and a beta of 1.13. The business has a fifty day moving average of $37.59 and a two-hundred day moving average of $40.47. Valaris has a 52-week low of $27.15 and a 52-week high of $84.20. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.67 and a current ratio of 1.67.

Valaris (NYSE:VALGet Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($1.63). The company had revenue of $620.70 million for the quarter, compared to the consensus estimate of $582.87 million. Valaris had a net margin of 12.61% and a return on equity of 14.14%. Valaris’s revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts expect that Valaris will post 3.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Lingotto Investment Management LLP raised its holdings in Valaris by 2.5% during the 4th quarter. Lingotto Investment Management LLP now owns 3,637,207 shares of the company’s stock worth $160,910,000 after purchasing an additional 87,420 shares during the last quarter. Aigen Investment Management LP bought a new stake in Valaris during the 4th quarter worth about $611,000. Raymond James Financial Inc. bought a new stake in Valaris during the 4th quarter worth about $875,000. Deutsche Bank AG raised its holdings in Valaris by 94.7% during the 4th quarter. Deutsche Bank AG now owns 207,291 shares of the company’s stock worth $9,171,000 after purchasing an additional 100,812 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Valaris by 14.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 143,399 shares of the company’s stock worth $6,344,000 after purchasing an additional 18,107 shares during the last quarter. 96.74% of the stock is owned by institutional investors.

Valaris Company Profile

(Get Free Report)

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.

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