Valaris (NYSE:VAL) Rating Lowered to “In-Line” at Evercore ISI

Valaris (NYSE:VAL) was downgraded by investment analysts at Evercore ISI from an “outperform” rating to an “in-line” rating in a research report issued on Wednesday, MarketBeat.com reports. They currently have a $59.00 target price on the stock, down from their prior target price of $87.00. Evercore ISI’s price objective would suggest a potential upside of 21.66% from the stock’s previous close.

Several other analysts also recently issued reports on VAL. Susquehanna lowered their price objective on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Barclays reaffirmed an “equal weight” rating and set a $49.00 price target (down from $59.00) on shares of Valaris in a report on Wednesday, December 18th. JPMorgan Chase & Co. began coverage on shares of Valaris in a report on Friday, December 6th. They issued an “underweight” rating and a $40.00 price objective on the stock. Benchmark cut shares of Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Finally, Citigroup lowered Valaris from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $58.00 to $47.00 in a research report on Monday, December 9th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, Valaris has a consensus rating of “Hold” and a consensus price target of $56.67.

Valaris Price Performance

Shares of NYSE VAL opened at $48.50 on Wednesday. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 3.33 and a beta of 1.10. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.61. Valaris has a 1-year low of $39.90 and a 1-year high of $84.20. The business has a 50-day moving average of $45.54 and a 200-day moving average of $55.95.

Institutional Investors Weigh In On Valaris

Institutional investors have recently modified their holdings of the stock. Lingotto Investment Management LLP grew its stake in Valaris by 1.2% in the second quarter. Lingotto Investment Management LLP now owns 3,040,610 shares of the company’s stock worth $226,525,000 after purchasing an additional 36,870 shares in the last quarter. State Street Corp lifted its holdings in Valaris by 4.8% during the 3rd quarter. State Street Corp now owns 2,446,006 shares of the company’s stock worth $136,365,000 after buying an additional 112,216 shares during the last quarter. Marshall Wace LLP grew its position in shares of Valaris by 5.9% in the 2nd quarter. Marshall Wace LLP now owns 1,882,846 shares of the company’s stock worth $140,272,000 after acquiring an additional 105,330 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Valaris by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,519,644 shares of the company’s stock valued at $84,736,000 after acquiring an additional 66,229 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Valaris by 23.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company’s stock valued at $88,573,000 after acquiring an additional 225,283 shares in the last quarter. Institutional investors and hedge funds 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.