Valaris (NYSE:VAL) Price Target Raised to $47.00 at Citigroup

Valaris (NYSE:VAL - Get Free Report) had its price objective hoisted by equities research analysts at Citigroup from $44.00 to $47.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Citigroup's target price indicates a potential upside of 0.53% from the stock's previous close.

A number of other research firms have also recently issued reports on VAL. Wall Street Zen raised Valaris to a "sell" rating in a research report on Tuesday, May 13th. Susquehanna cut their price target on Valaris from $47.00 to $34.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Evercore ISI reduced their price objective on shares of Valaris from $55.00 to $50.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Finally, Barclays increased their price objective on shares of Valaris from $35.00 to $37.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $49.67.

Valaris Stock Performance

NYSE VAL opened at $46.75 on Wednesday. The firm has a market capitalization of $3.32 billion, a P/E ratio of 10.98 and a beta of 1.13. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.49. The firm's fifty day moving average price is $37.04 and its two-hundred day moving average price is $40.44. Valaris has a 1 year low of $27.15 and a 1 year high of $84.20.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in VAL. Lowe Wealth Advisors LLC acquired a new stake in Valaris during the first quarter worth approximately $28,000. Quarry LP lifted its position in shares of Valaris by 51.7% during the 4th quarter. Quarry LP now owns 684 shares of the company's stock valued at $30,000 after acquiring an additional 233 shares during the period. Sterling Capital Management LLC grew its holdings in shares of Valaris by 518.3% during the 4th quarter. Sterling Capital Management LLC now owns 742 shares of the company's stock worth $33,000 after purchasing an additional 622 shares in the last quarter. UMB Bank n.a. bought a new position in shares of Valaris in the first quarter worth $44,000. Finally, GAMMA Investing LLC increased its position in shares of Valaris by 1,027.5% in the first quarter. GAMMA Investing LLC now owns 1,353 shares of the company's stock worth $53,000 after purchasing an additional 1,233 shares during the period. Institutional investors and hedge funds own 96.74% of the company's stock.

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.

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