Valaris (NYSE:VAL) Rating Reiterated by Benchmark

Benchmark reissued their buy rating on shares of Valaris (NYSE:VAL) in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a $90.00 price objective on the stock.

Several other research firms have also commented on VAL. Evercore ISI lowered their price target on shares of Valaris from $107.00 to $105.00 and set an outperform rating for the company in a research report on Friday, February 23rd. Barclays decreased their target price on shares of Valaris from $105.00 to $102.00 and set an overweight rating for the company in a research report on Tuesday, March 5th. TheStreet raised Valaris from a c rating to a b- rating in a report on Thursday, February 22nd. Finally, StockNews.com raised Valaris to a sell rating in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Valaris has a consensus rating of Moderate Buy and an average price target of $100.00.

Valaris Stock Performance

Shares of VAL stock opened at $68.25 on Thursday. The company has a market cap of $4.94 billion, a P/E ratio of 5.97 and a beta of 1.20. The business has a 50 day moving average of $69.74 and a two-hundred day moving average of $67.82. Valaris has a 52 week low of $54.13 and a 52 week high of $78.92. The company has a quick ratio of 1.71, a current ratio of 1.57 and a debt-to-equity ratio of 0.53.

Valaris (NYSE:VAL) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The company had revenue of $525.00 million for the quarter, compared to analyst estimates of $503.00 million. Valaris had a net margin of 44.93% and a return on equity of 3.81%. As a group, analysts anticipate that Valaris will post 4.37 EPS for the current year.

Institutional Trading of Valaris

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in Valaris in the third quarter worth approximately $132,000. Xponance Inc. boosted its stake in Valaris by 1.9% during the third quarter. Xponance Inc. now owns 9,023 shares of the company’s stock valued at $677,000 after buying an additional 172 shares in the last quarter. Raymond James & Associates grew its holdings in Valaris by 33.6% during the third quarter. Raymond James & Associates now owns 33,327 shares of the company’s stock worth $2,499,000 after acquiring an additional 8,385 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Valaris by 2.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 6,940 shares of the company’s stock worth $520,000 after acquiring an additional 172 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its holdings in Valaris by 98.8% in the 3rd quarter. New York State Teachers Retirement System now owns 34,200 shares of the company’s stock valued at $2,564,000 after acquiring an additional 17,000 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.

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.