Valaris (NYSE:VAL) Shares Down 4.4% - Should You Sell?

Valaris Limited (NYSE:VAL - Get Free Report)'s stock price fell 4.4% on Tuesday . The stock traded as low as $41.89 and last traded at $41.51. 706,748 shares changed hands during trading, a decline of 56% from the average session volume of 1,593,925 shares. The stock had previously closed at $43.44.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on VAL shares. Evercore ISI reduced their price target 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. Citigroup reissued a "neutral" rating and issued a $47.00 target price (up from $44.00) on shares of Valaris in a report on Wednesday, June 18th. Wall Street Zen upgraded Valaris to a "sell" rating in a research note on Tuesday, May 13th. Susquehanna reduced their price target on shares of Valaris from $47.00 to $34.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Barclays upped their price target 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 research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $49.67.

Valaris Price Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.67 and a quick ratio of 1.67. The stock has a market cap of $2.98 billion, a PE ratio of 9.83 and a beta of 1.13. The company has a 50-day simple moving average of $38.12 and a 200-day simple moving average of $40.41.

Valaris (NYSE:VAL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.53) earnings per share 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 analysts' expectations of $582.87 million. The business's quarterly revenue was up 6.2% compared to the same quarter last year. Sell-side analysts anticipate that Valaris Limited will post 3.96 EPS for the current fiscal year.

Institutional Trading of Valaris

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lowe Wealth Advisors LLC purchased a new stake in shares of Valaris during the first quarter worth about $28,000. Quarry LP grew its position 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 purchasing an additional 233 shares during the period. Sterling Capital Management LLC grew its holdings in 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 purchasing an additional 622 shares during the period. UMB Bank n.a. purchased a new stake in shares of Valaris during the 1st quarter valued at $44,000. Finally, GAMMA Investing LLC grew its position in Valaris by 1,027.5% during 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 during the period. Hedge funds and other institutional investors 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.

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