Valaris (NYSE:VAL) Price Target Lowered to $61.00 at Susquehanna

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

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

Valaris Trading Down 0.7 %

VAL opened at $52.93 on Friday. The stock has a market cap of $3.83 billion, a PE ratio of 4.63 and a beta of 1.15. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.49. The business has a 50 day moving average of $58.38 and a 200-day moving average of $68.21. Valaris has a 52 week low of $51.78 and a 52 week high of $84.20.

Valaris (NYSE:VAL) last released its earnings results on Wednesday, July 31st. The company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $1.07. The company had revenue of $610.10 million during the quarter, compared to analysts’ expectations of $545.00 million. Valaris had a return on equity of 12.58% and a net margin of 49.33%. Equities research analysts predict 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 Valaris stock in a transaction on Monday, September 9th. The stock was sold at an average price of $56.64, for a total value of $872,425.92. Following the completion of the sale, 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 legal filing with the SEC, which is available at this link. In other Valaris news, COO Gilles Luca sold 30,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $56.86, for a total transaction of $1,705,800.00. Following the completion of the sale, the chief operating officer now owns 108,342 shares of the company’s stock, valued at approximately $6,160,326.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Davor Vukadin sold 15,403 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $56.64, for a total value of $872,425.92. Following the sale, the senior vice president now directly owns 13,334 shares of the company’s stock, valued at $755,237.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,403 shares of company stock valued at $4,028,246 over the last 90 days. Company insiders own 0.12% of the company’s stock.

Institutional Trading of Valaris

Hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its holdings in Valaris by 180.8% during the first quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $27,000 after purchasing an additional 235 shares during the period. Headlands Technologies LLC purchased a new position in shares of Valaris in the first quarter valued at about $149,000. Choreo LLC purchased a new position in shares of Valaris in the second quarter valued at about $204,000. Evergreen Capital Management LLC purchased a new position in shares of Valaris in the second quarter valued at about $204,000. Finally, Scientech Research LLC purchased a new position in shares of Valaris in the second quarter valued at about $211,000. 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.