Valaris (NYSE:VAL) Earns Neutral Rating from BTIG Research

Key Points

• BTIG Research reissued a neutral rating on Valaris, and the analyst consensus is a "Reduce" with a consensus price target of $56.50 after recent downgrades from firms including Citigroup, Pareto and Zacks.
• Shares opened at $87.52 (12‑month range $27.15–$102.19) and thus trade well above the consensus target, even as the company shows a low P/E of 6.26, modest leverage (debt/equity 0.34) and heavy institutional ownership (~96.7%).

Valaris (NYSE:VAL - Get Free Report)'s stock had its "neutral" rating reissued by equities researchers at BTIG Research in a research note issued on Monday,Benzinga reports.

Several other equities analysts have also recently weighed in on VAL. Citigroup cut their price target on Valaris from $62.00 to $58.00 and set a "neutral" rating for the company in a report on Monday, December 22nd. Pareto Securities cut Valaris from a "hold" rating to a "sell" rating and set a $80.00 price objective on the stock. in a report on Monday, February 23rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Valaris in a research report on Wednesday, January 21st. Finally, Zacks Research lowered shares of Valaris from a "strong-buy" rating to a "hold" rating in a report on Wednesday, January 28th. Ten 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.com, the company has a consensus rating of "Reduce" and a consensus price target of $56.50.

Valaris Trading Down 3.4%

Shares of Valaris stock opened at $87.52 on Monday. Valaris has a twelve month low of $27.15 and a twelve month high of $102.19. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $69.54 and a 200-day moving average price of $58.64. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of 6.26 and a beta of 1.07.

Institutional Investors Weigh In On Valaris

Several hedge funds and other institutional investors have recently made changes to their positions in VAL. Virtu Financial LLC purchased a new stake in Valaris in the 4th quarter worth about $580,000. Invesco Ltd. increased its stake in Valaris by 7.6% in the fourth quarter. Invesco Ltd. now owns 510,426 shares of the company's stock worth $25,725,000 after purchasing an additional 36,001 shares during the period. Corient Private Wealth LLC lifted its position in shares of Valaris by 82.9% during the fourth quarter. Corient Private Wealth LLC now owns 14,235 shares of the company's stock worth $708,000 after purchasing an additional 6,450 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Valaris during the fourth quarter valued at $202,000. Finally, Empowered Funds LLC purchased a new stake in shares of Valaris during the fourth quarter valued at $1,324,000. Hedge funds and other institutional investors own 96.74% of the company's stock.

About Valaris

Valaris PLC is a leading provider of offshore drilling services to the global energy industry. The company operates a diverse fleet of mobile offshore drilling units, including drillships, semisubmersibles and jackup rigs, designed to support exploration and production activities in deepwater, ultra-deepwater and harsh‐environment settings. Valaris serves a wide range of international oil and gas customers, offering turnkey drilling solutions, project management and advanced technology integration to enhance operational efficiency and safety.

Headquartered in Houston, Texas, Valaris maintains a significant presence in key offshore basins around the world.

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.