Valaris (NYSE:VAL) Given New $37.00 Price Target at Barclays

Valaris (NYSE:VAL - Free Report) had its target price hoisted by Barclays from $35.00 to $37.00 in a report issued on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other equities research analysts also recently commented on the stock. StockNews.com upgraded shares of Valaris to a "sell" rating in a research report on Thursday, February 20th. Citigroup reduced their price target on Valaris from $48.00 to $44.00 and set a "neutral" rating for the company in a report on Wednesday, March 19th. Susquehanna dropped their price objective on Valaris from $47.00 to $34.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Evercore ISI reduced their target price on Valaris from $55.00 to $50.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $49.17.

Valaris Stock Performance

Valaris stock traded up $0.85 during mid-day trading on Monday, reaching $38.32. 1,370,375 shares of the company were exchanged, compared to its average volume of 1,526,870. The firm's 50-day simple moving average is $35.18 and its two-hundred day simple moving average is $42.04. Valaris has a twelve month low of $27.15 and a twelve month high of $84.20. The firm has a market cap of $2.72 billion, a PE ratio of 7.46 and a beta of 1.09. 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of $1.10 by ($1.63). The company had revenue of $620.70 million for the quarter, compared to analyst estimates of $582.87 million. Valaris had a return on equity of 17.40% and a net margin of 15.81%. The firm's revenue was up 6.2% compared to the same quarter last year. Equities analysts predict that Valaris will post 3.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Valaris

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of Valaris by 55.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,300,577 shares of the company's stock worth $101,771,000 after buying an additional 821,304 shares during the last quarter. Norges Bank purchased a new stake in shares of Valaris in the fourth quarter valued at about $31,949,000. Condire Management LP grew its position in shares of Valaris by 34.1% in the fourth quarter. Condire Management LP now owns 2,618,678 shares of the company's stock valued at $115,850,000 after purchasing an additional 665,718 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Valaris during the 4th quarter worth approximately $21,747,000. Finally, Waverton Investment Management Ltd raised its position in shares of Valaris by 49.7% during the 1st quarter. Waverton Investment Management Ltd now owns 1,131,601 shares of the company's stock worth $44,455,000 after purchasing an additional 375,466 shares during the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

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.