Valaris (NYSE:VAL) Price Target Cut to $35.00 by Analysts at Barclays

Valaris (NYSE:VAL) had its price target decreased by Barclays from $46.00 to $35.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential upside of 21.11% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. StockNews.com upgraded Valaris to a “sell” rating in a research note on Thursday, February 20th. Susquehanna decreased their price target on Valaris from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Evercore ISI lowered shares of Valaris from an “outperform” rating to an “in-line” rating and dropped their price objective for the company from $87.00 to $59.00 in a research note on Wednesday, January 15th. Finally, Citigroup reduced their target price on shares of Valaris from $48.00 to $44.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, Valaris has a consensus rating of “Hold” and an average price target of $52.50.

Valaris Stock Down 7.5 %

Shares of NYSE:VAL opened at $28.90 on Monday. The stock has a 50-day simple moving average of $39.98 and a 200-day simple moving average of $45.37. The stock has a market capitalization of $2.05 billion, a P/E ratio of 5.62 and a beta of 1.06. Valaris has a 1 year low of $27.73 and a 1 year high of $84.20. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.61 and a current ratio of 1.59.

Valaris (NYSE:VAL) last released its quarterly earnings data on Wednesday, February 19th. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.68. Valaris had a net margin of 15.81% and a return on equity of 17.40%. The company had revenue of $584.40 million during the quarter, compared to the consensus estimate of $578.01 million. Equities analysts forecast that Valaris will post 3.96 earnings per share for the current year.

Hedge Funds Weigh In On Valaris

Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP boosted its stake in Valaris by 51.7% during the 4th quarter. Quarry LP now owns 684 shares of the company’s stock valued at $30,000 after acquiring an additional 233 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Valaris by 1.3% in the 4th quarter. Arizona State Retirement System now owns 19,002 shares of the company’s stock valued at $841,000 after purchasing an additional 237 shares in the last quarter. Xponance Inc. lifted its position in shares of Valaris by 5.5% during the fourth quarter. Xponance Inc. now owns 9,273 shares of the company’s stock worth $410,000 after purchasing an additional 487 shares during the last quarter. State of Michigan Retirement System grew its stake in Valaris by 3.3% in the fourth quarter. State of Michigan Retirement System now owns 15,500 shares of the company’s stock worth $686,000 after purchasing an additional 500 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Valaris by 41.0% in the fourth quarter. Blue Trust Inc. now owns 1,758 shares of the company’s stock valued at $78,000 after buying an additional 511 shares during the last quarter. 96.74% of the stock is currently owned by hedge funds and other 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.