Valaris (NYSE:VAL) Stock Price Expected to Rise, Citigroup Analyst Says

Valaris (NYSE:VAL) had its price target raised by research analysts at Citigroup from $47.00 to $48.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential upside of 0.13% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Barclays reiterated an “equal weight” rating and set a $49.00 target price (down from $59.00) on shares of Valaris in a research note on Wednesday, December 18th. Evercore ISI downgraded shares of Valaris from an “outperform” rating to an “in-line” rating and reduced their price objective for the company from $87.00 to $59.00 in a research note on Wednesday, January 15th. Susquehanna decreased their price objective on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Benchmark lowered shares of Valaris from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. started coverage on Valaris in a research note on Friday, December 6th. They issued an “underweight” rating and a $40.00 price target for the company. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $56.83.

Valaris Stock Performance

NYSE:VAL opened at $47.94 on Thursday. The firm has a 50-day moving average of $45.35 and a two-hundred day moving average of $54.13. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a market cap of $3.41 billion, a P/E ratio of 3.29 and a beta of 1.10. Valaris has a 1-year low of $39.90 and a 1-year high of $84.20.

Valaris (NYSE:VAL) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.48). Valaris had a net margin of 47.52% and a return on equity of 13.67%. The business had revenue of $643.10 million during the quarter, compared to analysts’ expectations of $588.00 million. During the same period in the prior year, the company posted $0.17 EPS. On average, research analysts expect that Valaris will post 4.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Valaris

Institutional investors have recently modified their holdings of the business. Centiva Capital LP acquired a new position in Valaris in the third quarter valued at approximately $930,000. XTX Topco Ltd acquired a new position in Valaris during the 3rd quarter valued at approximately $1,862,000. Diversify Advisory Services LLC grew its stake in Valaris by 14.8% during the 3rd quarter. Diversify Advisory Services LLC now owns 137,572 shares of the company’s stock worth $7,670,000 after buying an additional 17,690 shares during the last quarter. Waverton Investment Management Ltd increased its position in Valaris by 20.4% in the third quarter. Waverton Investment Management Ltd now owns 670,885 shares of the company’s stock worth $37,412,000 after buying an additional 113,509 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its position in Valaris by 19.8% in the third quarter. State of New Jersey Common Pension Fund D now owns 31,391 shares of the company’s stock worth $1,750,000 after buying an additional 5,184 shares during the period. 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.