Valaris (NYSE:VAL) Price Target Cut to $61.00 by Analysts at Susquehanna

Valaris (NYSE:VAL) had its price target lowered by Susquehanna from $62.00 to $61.00 in a report issued on Friday, Benzinga reports. Susquehanna currently has a neutral rating on the stock.

A number of other analysts have also weighed in on VAL. Pickering Energy Partners lowered shares of Valaris from an outperform rating to a neutral rating in a research note on Tuesday, July 16th. Benchmark restated a buy rating and set a $90.00 price objective on shares of Valaris in a research note on Monday, August 5th. Citigroup reduced their price objective on shares of Valaris from $95.00 to $71.00 and set a buy rating for the company in a research note on Thursday, September 12th. Finally, Barclays reduced their price objective on shares of Valaris from $98.00 to $91.00 and set an overweight rating for the company in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $86.33.

Valaris Stock Down 1.3 %

Shares of Valaris stock opened at $52.23 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.73 and a quick ratio of 1.73. The company has a 50-day moving average of $58.14 and a 200 day moving average of $67.98. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 4.57 and a beta of 1.15. Valaris has a 1 year low of $51.55 and a 1 year high of $84.20.

Valaris (NYSE:VAL) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $1.07. The company had revenue of $610.10 million during the quarter, compared to analyst estimates of $545.00 million. Valaris had a net margin of 49.33% and a return on equity of 12.58%. As a group, sell-side analysts anticipate that Valaris will post 4.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Davor Vukadin sold 15,403 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $56.64, for a total value of $872,425.92. Following the transaction, the senior vice president now owns 13,334 shares of the company’s stock, valued at approximately $755,237.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Valaris news, SVP Davor Vukadin sold 15,403 shares of Valaris stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $56.64, for a total transaction of $872,425.92. Following the transaction, the senior vice president now owns 13,334 shares of the company’s stock, valued at $755,237.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Matthew Lyne sold 26,000 shares of Valaris stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $55.77, for a total transaction of $1,450,020.00. Following the transaction, the senior vice president now directly owns 24,388 shares in the company, valued at $1,360,118.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,403 shares of company stock valued at $4,028,246. 0.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Valaris

Several large investors have recently added to or reduced their stakes in the company. Creative Planning lifted its holdings in Valaris by 20.4% during the third quarter. Creative Planning now owns 10,350 shares of the company’s stock valued at $577,000 after purchasing an additional 1,751 shares in the last quarter. Fermata Advisors LLC raised its position in shares of Valaris by 44.5% during the third quarter. Fermata Advisors LLC now owns 4,595 shares of the company’s stock valued at $256,000 after buying an additional 1,416 shares during the last quarter. Systrade AG bought a new stake in shares of Valaris during the third quarter valued at approximately $1,123,000. Insight Wealth Strategies LLC raised its position in shares of Valaris by 23.2% during the third quarter. Insight Wealth Strategies LLC now owns 9,174 shares of the company’s stock valued at $511,000 after buying an additional 1,729 shares during the last quarter. Finally, Deane Retirement Strategies Inc. raised its position in shares of Valaris by 0.6% during the third quarter. Deane Retirement Strategies Inc. now owns 40,504 shares of the company’s stock valued at $2,259,000 after buying an additional 251 shares during the last quarter. Hedge funds and other institutional investors 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.