Valaris (NYSE:VAL) Given New $39.00 Price Target at Barclays

Valaris (NYSE:VAL - Get Free Report) had its target price increased by analysts at Barclays from $37.00 to $39.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's price objective suggests a potential downside of 22.94% from the stock's current price.

Several other brokerages have also recently issued reports on VAL. Citigroup restated a "neutral" rating on shares of Valaris in a research report on Thursday. Wall Street Zen raised shares of Valaris to a "sell" rating in a research note on Tuesday, May 13th. Evercore ISI lowered their target price on shares of Valaris from $55.00 to $50.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Finally, Susquehanna lifted their target price on shares of Valaris from $40.00 to $46.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 1st. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $52.00.

Valaris Price Performance

VAL stock traded up $1.09 during trading on Thursday, reaching $50.61. 1,673,490 shares of the company were exchanged, compared to its average volume of 1,854,415. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.67 and a quick ratio of 1.67. Valaris has a twelve month low of $27.15 and a twelve month high of $84.20. The company has a 50-day moving average of $41.20 and a two-hundred day moving average of $40.55. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 11.88 and a beta of 1.15.

Valaris (NYSE:VAL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($1.63). Valaris had a net margin of 12.61% and a return on equity of 14.14%. The business had revenue of $620.70 million during the quarter, compared to analyst estimates of $582.87 million. The business's quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities analysts predict that Valaris will post 3.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Valaris

Large investors have recently bought and sold shares of the stock. Dalal Street LLC acquired a new position in shares of Valaris during the first quarter valued at about $56,046,000. Dimensional Fund Advisors LP boosted its holdings in Valaris by 55.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,300,577 shares of the company's stock worth $101,771,000 after purchasing an additional 821,304 shares during the last quarter. Norges Bank purchased a new position in Valaris during the fourth quarter worth about $31,949,000. Condire Management LP boosted its holdings in Valaris by 34.1% during the fourth quarter. Condire Management LP now owns 2,618,678 shares of the company's stock worth $115,850,000 after purchasing an additional 665,718 shares during the last quarter. Finally, Tensile Capital Management LP purchased a new position in Valaris during the first quarter worth about $25,912,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.