Valaris (NYSE:VAL) Receives New Coverage from Analysts at Susquehanna

Susquehanna started coverage on shares of Valaris (NYSE:VAL) in a report issued on Tuesday morning, MarketBeat Ratings reports. The firm issued a neutral rating and a $62.00 target price on the stock.

VAL has been the topic of several other reports. Barclays dropped their price objective on shares of Valaris from $98.00 to $91.00 and set an overweight rating on the stock in a research report on Friday, August 9th. Benchmark restated a buy rating and set a $90.00 price objective on shares of Valaris in a research report on Monday, August 5th. Citigroup reduced their price objective on Valaris from $95.00 to $71.00 and set a buy rating for the company in a report on Thursday, September 12th. Finally, Pickering Energy Partners cut Valaris from an outperform rating to a neutral rating in a report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Valaris currently has an average rating of Moderate Buy and a consensus target price of $86.50.

Valaris Stock Up 4.4 %

Shares of VAL stock opened at $56.10 on Tuesday. Valaris has a 52-week low of $53.06 and a 52-week high of $84.20. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of 4.91 and a beta of 1.17. The firm’s 50-day moving average is $62.84 and its 200-day moving average is $69.40. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.73 and a current ratio of 1.73.

Valaris (NYSE:VAL) last released its quarterly earnings data on Wednesday, July 31st. The company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $1.07. Valaris had a return on equity of 12.58% and a net margin of 49.33%. The firm had revenue of $610.10 million for the quarter, compared to analyst estimates of $545.00 million. Sell-side analysts predict that Valaris will post 4.37 EPS for the current year.

Insider Activity at Valaris

In other Valaris 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 transaction, the senior vice president now directly owns 13,334 shares of the company’s stock, valued at approximately $755,237.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Valaris news, COO Gilles Luca sold 30,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $56.86, for a total transaction of $1,705,800.00. Following the sale, the chief operating officer now directly owns 108,342 shares in the company, valued at $6,160,326.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Davor Vukadin sold 15,403 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $56.64, for a total transaction of $872,425.92. Following the completion of the transaction, the senior vice president now owns 13,334 shares of the company’s stock, valued at $755,237.76. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.

Institutional Trading of Valaris

Several large investors have recently made changes to their positions in the company. Lingotto Investment Management LLP raised its position in Valaris by 1.2% during the second quarter. Lingotto Investment Management LLP now owns 3,040,610 shares of the company’s stock valued at $226,525,000 after purchasing an additional 36,870 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Valaris by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 1,893,667 shares of the company’s stock worth $129,849,000 after buying an additional 77,490 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Valaris by 5.9% during the 2nd quarter. Marshall Wace LLP now owns 1,882,846 shares of the company’s stock worth $140,272,000 after buying an additional 105,330 shares during the last quarter. Condire Management LP lifted its position in shares of Valaris by 14.7% during the 1st quarter. Condire Management LP now owns 1,452,097 shares of the company’s stock worth $109,285,000 after buying an additional 186,076 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Valaris by 23.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company’s stock valued at $88,573,000 after buying an additional 225,283 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

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.