Citigroup Cuts Valaris (NYSE:VAL) Price Target to $44.00

Valaris (NYSE:VAL) had its target price decreased by Citigroup from $48.00 to $44.00 in a research report released on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other research firms have also issued reports on VAL. Evercore ISI lowered Valaris from an “outperform” rating to an “in-line” rating and reduced their target price for the company from $87.00 to $59.00 in a research note on Wednesday, January 15th. Susquehanna reduced their price objective on Valaris from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. StockNews.com upgraded Valaris to a “sell” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. started coverage on shares of Valaris in a report on Friday, December 6th. They issued an “underweight” rating and a $40.00 target price on the stock. Finally, Barclays lowered their price target on shares of Valaris from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $54.33.

Valaris Stock Down 1.7 %

Valaris stock opened at $39.68 on Wednesday. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 7.72 and a beta of 1.16. 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 has a fifty-two week low of $31.15 and a fifty-two week high of $84.20. The stock’s fifty day moving average is $43.07 and its two-hundred day moving average is $47.19.

Valaris (NYSE:VAL) last posted its earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share for the quarter, beating 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 firm had revenue of $584.40 million during the quarter, compared to the consensus estimate of $578.01 million. Analysts predict that Valaris will post 3.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of VAL. Quarry LP acquired a new stake in shares of Valaris in the third quarter worth approximately $25,000. Sterling Capital Management LLC boosted its holdings in shares of Valaris by 518.3% in the 4th quarter. Sterling Capital Management LLC now owns 742 shares of the company’s stock valued at $33,000 after purchasing an additional 622 shares during the last quarter. Signaturefd LLC grew its stake in shares of Valaris by 395.0% during the 4th quarter. Signaturefd LLC now owns 1,475 shares of the company’s stock valued at $65,000 after buying an additional 1,177 shares during the period. Blue Trust Inc. increased its holdings in shares of Valaris by 41.0% during the 4th quarter. Blue Trust Inc. now owns 1,758 shares of the company’s stock worth $78,000 after buying an additional 511 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Valaris by 326.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,874 shares of the company’s stock worth $83,000 after buying an additional 1,435 shares during the period. Institutional investors and hedge funds 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.