Citigroup Lowers Valaris (NYSE:VAL) Price Target to $58.00

Valaris (NYSE:VAL) had its price target decreased by research analysts at Citigroup from $62.00 to $58.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective indicates a potential upside of 16.89% from the company’s current price.

A number of other equities analysts also recently weighed in on VAL. BTIG Research boosted their target price on shares of Valaris from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Clarkson Capital lowered shares of Valaris from a “buy” rating to a “neutral” rating and set a $54.00 price target for the company. in a report on Tuesday, September 2nd. Wall Street Zen raised Valaris from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. SEB Equity Research set a $45.50 price objective on Valaris in a research report on Monday, September 1st. Finally, Barclays boosted their target price on Valaris from $43.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. One analyst has rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $53.56.

Valaris Trading Down 0.5%

Shares of VAL opened at $49.62 on Monday. The stock has a fifty day moving average price of $54.73 and a two-hundred day moving average price of $50.47. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.87 and a current ratio of 1.87. Valaris has a 52-week low of $27.15 and a 52-week high of $61.70. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 8.84 and a beta of 1.16.

Valaris (NYSE:VAL) last announced its earnings results on Wednesday, October 29th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $1.65. The company had revenue of $595.70 million during the quarter, compared to analyst estimates of $568.41 million. Valaris had a return on equity of 17.27% and a net margin of 16.51%.The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. Analysts predict that Valaris will post 3.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nuveen LLC acquired a new stake in shares of Valaris during the first quarter worth $6,375,000. HighTower Advisors LLC boosted its holdings in Valaris by 35.8% during the first quarter. HighTower Advisors LLC now owns 15,946 shares of the company’s stock worth $626,000 after buying an additional 4,204 shares during the last quarter. American Century Companies Inc. grew its position in shares of Valaris by 244.2% during the 1st quarter. American Century Companies Inc. now owns 115,211 shares of the company’s stock worth $4,523,000 after buying an additional 81,737 shares during the period. Jump Financial LLC bought a new stake in shares of Valaris in the 1st quarter valued at about $6,907,000. Finally, Old West Investment Management LLC raised its position in shares of Valaris by 88.1% in the 1st quarter. Old West Investment Management LLC now owns 66,855 shares of the company’s stock valued at $2,625,000 after acquiring an additional 31,320 shares during the period. 96.74% of the stock is currently owned by institutional investors.

Valaris Company Profile

Valaris PLC is a leading provider of offshore drilling services to the global energy industry. The company operates a diverse fleet of mobile offshore drilling units, including drillships, semisubmersibles and jackup rigs, designed to support exploration and production activities in deepwater, ultra-deepwater and harsh‐environment settings. Valaris serves a wide range of international oil and gas customers, offering turnkey drilling solutions, project management and advanced technology integration to enhance operational efficiency and safety.

Headquartered in Houston, Texas, Valaris maintains a significant presence in key offshore basins around the world.