Valaris (NYSE:VAL) Given New $98.00 Price Target at Susquehanna

Key Points

• Susquehanna raised its price target on Valaris to $98.00 and kept a "neutral" rating, with the new target implying essentially no upside (about 0.06% downside) from the current share price.
• Analyst consensus is tepid to negative — ten Hold ratings and one Sell, an average rating of "Reduce" and an average target of $61.72, well below today's price.
• Valaris recently traded around $98.06, near its 52‑week high, with a $6.79B market cap and heavy institutional ownership (~96.74%), including a new position by Norges Bank.

Valaris (NYSE:VAL - Get Free Report) had its price objective increased by stock analysts at Susquehanna from $96.00 to $98.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Susquehanna's price objective points to a potential downside of 0.06% from the company's current price.

VAL has been the topic of several other research reports. BTIG Research downgraded shares of Valaris from a "buy" rating to a "hold" rating in a research note on Monday, March 9th. Citigroup reduced their target price on shares of Valaris from $62.00 to $58.00 and set a "neutral" rating on the stock in a research note on Monday, December 22nd. Pareto Securities downgraded shares of Valaris from a "hold" rating to a "sell" rating and set a $80.00 target price on the stock. in a research note on Monday, February 23rd. Zacks Research cut Valaris from a "strong-buy" rating to a "hold" rating in a report on Wednesday, January 28th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Valaris in a report on Wednesday, January 21st. Ten equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $61.72.

Valaris Price Performance

Shares of NYSE:VAL traded up $0.62 on Tuesday, hitting $98.06. The stock had a trading volume of 161,143 shares, compared to its average volume of 1,557,880. Valaris has a twelve month low of $27.15 and a twelve month high of $105.35. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.77 and a current ratio of 1.77. The firm's 50 day moving average price is $87.54 and its 200-day moving average price is $65.37. The company has a market capitalization of $6.79 billion, a price-to-earnings ratio of 7.01 and a beta of 1.04.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in VAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Valaris by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,689 shares of the company's stock valued at $1,440,000 after buying an additional 1,605 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Valaris by 3.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,662 shares of the company's stock valued at $5,797,000 after buying an additional 4,263 shares during the last quarter. Prudential Financial Inc. raised its holdings in shares of Valaris by 4.1% in the second quarter. Prudential Financial Inc. now owns 5,885 shares of the company's stock valued at $248,000 after buying an additional 230 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Valaris by 17.3% in the second quarter. Russell Investments Group Ltd. now owns 13,539 shares of the company's stock valued at $570,000 after buying an additional 1,996 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Valaris in the second quarter valued at about $17,748,000. 96.74% of the stock is owned by institutional investors.

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.

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