Valaris Limited (NYSE:VAL) Given Average Recommendation of “Hold” by Brokerages

Shares of Valaris Limited (NYSE:VAL) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $64.33.

A number of brokerages have weighed in on VAL. JPMorgan Chase & Co. initiated coverage on Valaris in a research report on Friday, December 6th. They set an “underweight” rating and a $40.00 price target on the stock. Benchmark lowered Valaris from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Susquehanna dropped their price target on Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Barclays reaffirmed an “equal weight” rating and set a $49.00 price objective (down from $59.00) on shares of Valaris in a research report on Wednesday, December 18th. Finally, Citigroup lowered shares of Valaris from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $58.00 to $47.00 in a research report on Monday, December 9th.

Valaris Stock Up 2.7 %

Valaris stock opened at $46.47 on Wednesday. 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 company’s 50-day moving average is $45.92 and its 200-day moving average is $56.94. The firm has a market capitalization of $3.30 billion, a PE ratio of 3.19 and a beta of 1.10. Valaris has a fifty-two week low of $39.90 and a fifty-two week high of $84.20.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Retirement Systems of Alabama grew its position in Valaris by 2.2% during the third quarter. Retirement Systems of Alabama now owns 190,025 shares of the company’s stock worth $10,594,000 after buying an additional 4,065 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Valaris by 4.6% during the 3rd quarter. Franklin Resources Inc. now owns 37,429 shares of the company’s stock worth $1,956,000 after purchasing an additional 1,634 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Valaris by 4.6% in the third quarter. Geode Capital Management LLC now owns 1,519,644 shares of the company’s stock worth $84,736,000 after purchasing an additional 66,229 shares during the period. Orion Portfolio Solutions LLC raised its stake in Valaris by 64.5% in the third quarter. Orion Portfolio Solutions LLC now owns 16,066 shares of the company’s stock valued at $896,000 after purchasing an additional 6,299 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Valaris during the third quarter worth about $1,862,000. Institutional investors and hedge funds 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.