Valaris (NYSE:VAL) Trading Down 4.3%

Valaris Limited (NYSE:VAL)’s stock price was down 4.3% during mid-day trading on Wednesday . The stock traded as low as $60.22 and last traded at $60.31. Approximately 177,075 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 946,056 shares. The stock had previously closed at $62.99.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Benchmark reissued a “buy” rating and set a $90.00 target price on shares of Valaris in a research report on Monday, August 5th. Pickering Energy Partners downgraded shares of Valaris from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 16th. Finally, Barclays lowered their target price on shares of Valaris from $98.00 to $91.00 and set an “overweight” rating for the company in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.80.

Valaris Stock Performance

The firm has a market capitalization of $4.39 billion, a P/E ratio of 5.21 and a beta of 1.21. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a 50-day moving average price of $71.09 and a two-hundred day moving average price of $70.93.

Valaris (NYSE:VAL) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.03 EPS for the quarter, topping the consensus estimate of $0.96 by $1.07. The company had revenue of $610.10 million for the quarter, compared to the consensus estimate of $545.00 million. Valaris had a net margin of 49.33% and a return on equity of 12.58%. On average, analysts forecast that Valaris Limited will post 4.37 EPS for the current fiscal year.

Institutional Trading of Valaris

A number of large investors have recently modified their holdings of VAL. EverSource Wealth Advisors LLC increased its position in Valaris by 180.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $27,000 after purchasing an additional 235 shares during the period. Spire Wealth Management bought a new position in Valaris in the fourth quarter worth approximately $101,000. Assetmark Inc. raised its position in shares of Valaris by 88.3% in the 4th quarter. Assetmark Inc. now owns 1,747 shares of the company’s stock worth $120,000 after acquiring an additional 819 shares in the last quarter. Headlands Technologies LLC purchased a new position in Valaris in the first quarter valued at about $149,000. Finally, Evergreen Capital Management LLC bought a new position in Valaris in the second quarter worth about $204,000. 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.