Valaris (NYSE:VAL) Stock Bumped Down to Sell by Wall Street Zen

Key Points

• Wall Street Zen downgraded Valaris from “hold” to “sell.” The broader analyst consensus is “Reduce,” with six Hold ratings, one Sell rating, and an average price target of $68.50.
• Valaris reported quarterly EPS of $0.72, beating the $0.31 consensus estimate, while revenue of $539.2 million exceeded expectations but declined 12.4% year over year.
• Institutional investors own approximately 96.74% of Valaris shares. The stock opened at $105.35, with a 52-week range of $48.08 to $114.12 and a market capitalization of about $7.32 billion.

Valaris (NYSE:VAL - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other research firms have also issued reports on VAL. Weiss Ratings raised Valaris from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, August 17th. Susquehanna boosted their price objective on Valaris from $80.00 to $86.00 and gave the stock a "neutral" rating in a research report on Monday, October 5th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Valaris currently has a consensus rating of "Reduce" and an average target price of $68.50.

Valaris Stock Performance

NYSE:VAL opened at $105.35 on Friday. Valaris has a 52 week low of $48.08 and a 52 week high of $114.12. The company has a fifty day simple moving average of $86.57 and a two-hundred day simple moving average of $85.67. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.34. The company has a market cap of $7.32 billion, a price-to-earnings ratio of 7.87 and a beta of 1.04.

Valaris (NYSE:VAL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.41. The business had revenue of $539.20 million for the quarter, compared to analysts' expectations of $488.52 million. Valaris had a return on equity of 9.25% and a net margin of 43.95%. The company's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period last year, the firm earned $1.61 earnings per share. As a group, equities analysts anticipate that Valaris will post 3.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Valaris

Several institutional investors have recently modified their holdings of VAL. PNC Financial Services Group Inc. lifted its position in shares of Valaris by 0.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 31,465 shares of the company's stock worth $3,085,000 after buying an additional 169 shares during the last quarter. State of Michigan Retirement System grew its position in shares of Valaris by 1.3% in the 1st quarter. State of Michigan Retirement System now owns 15,500 shares of the company's stock valued at $1,520,000 after buying an additional 200 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Valaris by 7.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,030 shares of the company's stock valued at $238,000 after buying an additional 201 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Valaris by 6.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,162 shares of the company's stock valued at $248,000 after buying an additional 203 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in Valaris by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,176 shares of the company's stock worth $1,292,000 after acquiring an additional 239 shares in the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

About Valaris

Valaris plc is an offshore contract drilling company that provides drilling services to oil and gas operators worldwide. The company works with customers to support offshore exploration, appraisal and development programs in shallow-water and deepwater environments.

Valaris operates a fleet that includes drillships, semisubmersible rigs and jackup rigs. Its services include mobile offshore drilling, well construction support and related rig-management and operational services. The company's fleet is designed to serve a range of offshore projects, from conventional shelf developments to technically demanding deepwater wells.

With operations spanning major offshore energy regions, Valaris has served customers in areas including the Gulf of Mexico, the North Sea, Brazil, West Africa, the Middle East and the Asia-Pacific region.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.