Barclays Cuts Valaris (NYSE:VAL) Price Target to $46.00

Valaris (NYSE:VAL) had its price target decreased by Barclays from $49.00 to $46.00 in a research note published on Tuesday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

VAL has been the subject of a number of other research reports. Evercore ISI downgraded shares of Valaris from an “outperform” rating to an “in-line” rating and decreased their price objective for the company from $87.00 to $59.00 in a research report on Wednesday, January 15th. JPMorgan Chase & Co. assumed coverage on Valaris in a report on Friday, December 6th. They set an “underweight” rating and a $40.00 price target for the company. Susquehanna dropped their price objective on Valaris from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Citigroup lifted their target price on Valaris from $47.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, StockNews.com raised Valaris to a “sell” rating in a report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, Valaris currently has an average rating of “Hold” and an average price target of $55.00.

Valaris Stock Performance

Shares of NYSE VAL opened at $36.59 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.61 and a current ratio of 1.59. The stock has a 50 day moving average price of $45.12 and a 200 day moving average price of $49.99. The stock has a market capitalization of $2.60 billion, a PE ratio of 7.12 and a beta of 1.10. Valaris has a 52 week low of $36.55 and a 52 week high of $84.20.

Valaris (NYSE:VAL) last released its quarterly earnings data on Wednesday, February 19th. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.20 by $0.68. The company had revenue of $584.40 million during the quarter, compared to the consensus estimate of $578.01 million. Valaris had a return on equity of 17.40% and a net margin of 15.81%. Analysts predict that Valaris will post 3.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Valaris

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP acquired a new position in Valaris in the 3rd quarter valued at $25,000. Sterling Capital Management LLC boosted its position in shares of Valaris by 518.3% in the fourth quarter. Sterling Capital Management LLC now owns 742 shares of the company’s stock valued at $33,000 after acquiring an additional 622 shares during the period. Signaturefd LLC grew its stake in shares of Valaris by 395.0% in the fourth quarter. Signaturefd LLC now owns 1,475 shares of the company’s stock valued at $65,000 after acquiring an additional 1,177 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Valaris by 41.0% in the fourth quarter. Blue Trust Inc. now owns 1,758 shares of the company’s stock valued at $78,000 after acquiring an additional 511 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its position in Valaris by 326.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,874 shares of the company’s stock worth $83,000 after acquiring an additional 1,435 shares during the period. Institutional investors and hedge funds 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.