Valaris Target of Unusually Large Options Trading (NYSE:VAL)

Valaris Limited (NYSE:VAL) was the target of unusually large options trading on Tuesday. Stock investors bought 5,483 put options on the stock. This represents an increase of approximately 108% compared to the average daily volume of 2,642 put options.

Valaris Price Performance

VAL stock opened at $33.87 on Wednesday. The firm has a 50-day moving average of $44.70 and a 200 day moving average of $49.17. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.59 and a quick ratio of 1.61. The company has a market cap of $2.41 billion, a P/E ratio of 6.59 and a beta of 1.10. Valaris has a 1 year low of $31.15 and a 1 year high of $84.20.

Valaris (NYSE:VAL) last released its earnings results on Wednesday, February 19th. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates 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%. On average, sell-side analysts forecast that Valaris will post 3.96 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on VAL. Susquehanna decreased their target price on Valaris from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Barclays lowered their price target on shares of Valaris from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 25th. StockNews.com raised Valaris to a “sell” rating in a research note on Thursday, February 20th. Evercore ISI cut Valaris from an “outperform” rating to an “in-line” rating and cut their target price for the stock from $87.00 to $59.00 in a research note on Wednesday, January 15th. Finally, JPMorgan Chase & Co. initiated coverage on Valaris in a research report on Friday, December 6th. They set an “underweight” rating and a $40.00 price target for the company. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $55.00.

Hedge Funds Weigh In On Valaris

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning increased its stake in shares of Valaris by 20.4% in the 3rd quarter. Creative Planning now owns 10,350 shares of the company’s stock worth $577,000 after acquiring an additional 1,751 shares in the last quarter. Private Advisor Group LLC grew its holdings in Valaris by 22.5% in the third quarter. Private Advisor Group LLC now owns 5,524 shares of the company’s stock worth $308,000 after purchasing an additional 1,015 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Valaris by 14.3% during the third quarter. State of Alaska Department of Revenue now owns 7,735 shares of the company’s stock valued at $431,000 after purchasing an additional 965 shares in the last quarter. Hara Capital LLC lifted its holdings in shares of Valaris by 8.8% during the third quarter. Hara Capital LLC now owns 57,035 shares of the company’s stock valued at $3,180,000 after purchasing an additional 4,616 shares during the last quarter. Finally, Fiera Capital Corp boosted its position in shares of Valaris by 2.3% in the 3rd quarter. Fiera Capital Corp now owns 283,854 shares of the company’s stock worth $15,825,000 after purchasing an additional 6,330 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

About Valaris

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.