Citigroup Cuts Valaris (NYSE:VAL) Price Target to $44.00

Valaris (NYSE:VAL) had its price objective decreased by Citigroup from $48.00 to $44.00 in a research report released on Wednesday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Other research analysts also recently issued research reports about the stock. Evercore ISI downgraded shares of Valaris from an “outperform” rating to an “in-line” rating and decreased their price target for the stock from $87.00 to $59.00 in a research note on Wednesday, January 15th. Susquehanna dropped their target price on Valaris from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. JPMorgan Chase & Co. started coverage on Valaris in a report on Friday, December 6th. They set an “underweight” rating and a $40.00 price target for the company. Barclays dropped their price objective on Valaris from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 25th. Finally, StockNews.com upgraded Valaris to a “sell” rating in a research note on Thursday, February 20th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, Valaris has an average rating of “Hold” and an average price target of $54.33.

Valaris Price Performance

Valaris stock opened at $39.68 on Wednesday. The company’s 50 day moving average is $43.07 and its two-hundred day moving average is $47.19. The firm has a market cap of $2.82 billion, a PE ratio of 7.72 and a beta of 1.16. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48. Valaris has a 52-week low of $31.15 and a 52-week high of $84.20.

Valaris (NYSE:VAL) last released its earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.68. Valaris had a return on equity of 17.40% and a net margin of 15.81%. The firm had revenue of $584.40 million during the quarter, compared to analyst estimates of $578.01 million. On average, research analysts expect that Valaris will post 3.96 EPS for the current fiscal year.

Institutional Trading of Valaris

A number of large investors have recently made changes to their positions in the company. Quarry LP purchased a new stake in Valaris in the third quarter valued at approximately $25,000. Sterling Capital Management LLC raised its position in Valaris by 518.3% in the 4th quarter. Sterling Capital Management LLC now owns 742 shares of the company’s stock valued at $33,000 after purchasing an additional 622 shares during the last quarter. Signaturefd LLC boosted its stake in Valaris by 395.0% during the 4th quarter. Signaturefd LLC now owns 1,475 shares of the company’s stock worth $65,000 after purchasing an additional 1,177 shares during the period. Blue Trust Inc. grew its position in Valaris by 41.0% during the 4th quarter. Blue Trust Inc. now owns 1,758 shares of the company’s stock worth $78,000 after purchasing an additional 511 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in Valaris by 326.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,874 shares of the company’s stock valued at $83,000 after purchasing an additional 1,435 shares during the period. 96.74% of the stock is owned by institutional investors and hedge funds.

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.