Valaris (NYSE:VAL) Receives "Neutral" Rating from Citigroup

Citigroup reissued their neutral rating on shares of Valaris (NYSE:VAL - Free Report) in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. The firm currently has a $47.00 price objective on the stock, up from their previous price objective of $44.00.

Several other equities research analysts have also weighed in on the stock. Wall Street Zen upgraded shares of Valaris to a "sell" rating in a research note on Tuesday, May 13th. Evercore ISI dropped their price objective on shares of Valaris from $55.00 to $50.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. Barclays increased their price objective on shares of Valaris from $35.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Finally, Susquehanna dropped their price objective on shares of Valaris from $47.00 to $34.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $49.67.

Valaris Stock Down 0.8%

Shares of Valaris stock traded down $0.37 during trading on Wednesday, reaching $45.35. The company had a trading volume of 1,463,400 shares, compared to its average volume of 1,599,948. The company has a market cap of $3.22 billion, a price-to-earnings ratio of 10.64 and a beta of 1.13. The firm's fifty day moving average is $37.87 and its 200-day moving average is $40.46. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.67 and a current ratio of 1.67. Valaris has a fifty-two week low of $27.15 and a fifty-two week 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). The company had revenue of $620.70 million during the quarter, compared to analyst estimates of $582.87 million. Valaris had a net margin of 12.61% and a return on equity of 14.14%. The business's revenue was up 6.2% on a year-over-year basis. On average, analysts anticipate that Valaris will post 3.96 EPS for the current year.

Institutional Investors Weigh In On Valaris

Large investors have recently made changes to their positions in the company. Quarry LP boosted its holdings in shares of Valaris by 51.7% in the fourth quarter. Quarry LP now owns 684 shares of the company's stock valued at $30,000 after acquiring an additional 233 shares in the last quarter. Lowe Wealth Advisors LLC bought a new position in shares of Valaris in the first quarter valued at approximately $28,000. Sterling Capital Management LLC boosted its holdings in shares of Valaris by 518.3% in the fourth quarter. Sterling Capital Management LLC now owns 742 shares of the company's stock valued at $33,000 after acquiring an additional 622 shares in the last quarter. UMB Bank n.a. bought a new position in shares of Valaris in the first quarter valued at approximately $44,000. Finally, GAMMA Investing LLC boosted its holdings 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 valued at $53,000 after acquiring an additional 1,233 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company's stock.

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.