Susquehanna Has Lowered Expectations for Valaris (NYSE:VAL) Stock Price

Valaris (NYSE:VAL) had its target price dropped by research analysts at Susquehanna from $61.00 to $55.00 in a report released on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Susquehanna’s price objective would indicate a potential upside of 11.74% from the company’s previous close.

VAL has been the subject of several other reports. Barclays reduced their price target on Valaris from $91.00 to $61.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Benchmark cut Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Citigroup reduced their price target on shares of Valaris from $95.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Finally, Pickering Energy Partners lowered shares of Valaris from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Valaris has a consensus rating of “Hold” and a consensus price target of $80.33.

Valaris Trading Down 2.7 %

NYSE VAL traded down $1.38 during trading hours on Friday, hitting $49.22. 484,364 shares of the company’s stock were exchanged, compared to its average volume of 1,040,606. The business’s 50 day moving average is $54.83 and its 200-day moving average is $65.97. 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 has a 12-month low of $48.43 and a 12-month high of $84.20. The firm has a market capitalization of $3.58 billion, a P/E ratio of 3.38 and a beta of 1.15.

Valaris (NYSE:VAL) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $1.07. Valaris had a return on equity of 13.75% and a net margin of 47.52%. The business had revenue of $610.10 million for the quarter, compared to analysts’ expectations of $545.00 million. As a group, analysts anticipate that Valaris will post 4.37 EPS for the current fiscal year.

Insider Activity

In other news, COO Gilles Luca sold 30,000 shares of the 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 transaction, the chief operating officer now directly owns 108,342 shares in the company, valued at approximately $6,160,326.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Matthew Lyne sold 26,000 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $55.77, for a total value of $1,450,020.00. Following the completion of the transaction, the senior vice president now owns 24,388 shares of the company’s stock, valued at approximately $1,360,118.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Gilles Luca sold 30,000 shares of the stock in a transaction on 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 transaction, the chief operating officer now owns 108,342 shares of the company’s stock, valued at $6,160,326.12. This trade 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 in the last three months. Company insiders own 0.12% of the company’s stock.

Institutional Trading of Valaris

A number of hedge funds have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Valaris during the 2nd quarter valued at about $28,884,000. Dimensional Fund Advisors LP increased its stake in Valaris by 23.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company’s stock valued at $88,573,000 after purchasing an additional 225,283 shares in the last quarter. Condire Management LP raised its stake 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. AQR Capital Management LLC lifted its holdings in shares of Valaris by 338.5% in the second quarter. AQR Capital Management LLC now owns 236,379 shares of the company’s stock valued at $17,426,000 after purchasing an additional 182,467 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Valaris in the 2nd quarter valued at approximately $13,306,000. Hedge funds and other 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.