Valaris (NYSE:VAL) Reaches New 12-Month High at $80.97

Shares of Valaris Limited (NYSE:VAL) hit a new 52-week high on Thursday . The stock traded as high as $80.97 and last traded at $80.79, with a volume of 369272 shares changing hands. The stock had previously closed at $76.86.

Wall Street Analysts Forecast Growth

VAL has been the subject of several recent research reports. Barclays reduced their price target on Valaris from $102.00 to $98.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Pickering Energy Partners cut Valaris from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 16th. StockNews.com upgraded Valaris to a “sell” rating in a research report on Friday, April 26th. Finally, Benchmark reiterated a “buy” rating and set a $90.00 price target on shares of Valaris in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $99.20.

Valaris Price Performance

The firm has a market capitalization of $5.79 billion, a PE ratio of 6.99 and a beta of 1.21. The stock has a 50-day moving average price of $74.81 and a 200 day moving average price of $70.74. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.53.

Valaris (NYSE:VAL) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The business had revenue of $525.00 million during the quarter, compared to analysts’ expectations of $503.00 million. Valaris had a net margin of 44.93% and a return on equity of 3.81%. Equities analysts forecast that Valaris Limited will post 4.37 EPS for the current fiscal year.

Institutional Trading of Valaris

A number of institutional investors have recently made changes to their positions in the company. SeaCrest Wealth Management LLC boosted its stake in shares of Valaris by 1.0% in the first quarter. SeaCrest Wealth Management LLC now owns 16,124 shares of the company’s stock worth $1,213,000 after acquiring an additional 152 shares during the last quarter. Smith Anglin Financial LLC boosted its stake in shares of Valaris by 5.4% in the first quarter. Smith Anglin Financial LLC now owns 3,740 shares of the company’s stock worth $281,000 after acquiring an additional 190 shares during the last quarter. Insight Wealth Strategies LLC boosted its stake in shares of Valaris by 3.0% in the first quarter. Insight Wealth Strategies LLC now owns 7,119 shares of the company’s stock worth $536,000 after acquiring an additional 210 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Valaris by 180.8% in the first quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $27,000 after acquiring an additional 235 shares during the last quarter. Finally, World Equity Group Inc. boosted its stake in shares of Valaris by 1.9% in the second quarter. World Equity Group Inc. now owns 12,827 shares of the company’s stock worth $956,000 after acquiring an additional 238 shares during the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

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.