Valaris (NYSE:VAL) Trading Down 4.4% - Here's Why

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

Wall Street Analysts Forecast Growth

VAL has been the topic of several recent research reports. Citigroup restated a "neutral" rating and issued a $47.00 price target (up previously from $44.00) on shares of Valaris in a research report on Wednesday, June 18th. Susquehanna dropped their target price on shares of Valaris from $47.00 to $34.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Barclays increased their target price on Valaris from $35.00 to $37.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Evercore ISI reduced their price objective on 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, Wall Street Zen upgraded shares of Valaris to a "sell" rating in a report on Tuesday, May 13th. 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 data from MarketBeat.com, Valaris presently has a consensus rating of "Hold" and an average price target of $49.67.

Valaris Stock Down 0.5%

The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 9.84 and a beta of 1.13. The business has a fifty day simple moving average of $38.79 and a two-hundred day simple moving average of $40.41.

Valaris (NYSE:VAL - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $582.87 million. The company's revenue for the quarter was up 6.2% on a year-over-year basis. Equities analysts expect that Valaris Limited will post 3.96 EPS for the current year.

Institutional Investors Weigh In On Valaris

Institutional investors have recently made changes to their positions in the stock. Dalal Street LLC bought a new position in Valaris during the 1st quarter worth approximately $56,046,000. Dimensional Fund Advisors LP grew its stake in Valaris by 55.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,300,577 shares of the company's stock valued at $101,771,000 after acquiring an additional 821,304 shares during the period. Norges Bank bought a new stake in shares of Valaris in the fourth quarter worth about $31,949,000. Condire Management LP raised its position in shares of 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 period. Finally, Tensile Capital Management LP acquired a new position in shares of Valaris in the 1st quarter valued at approximately $25,912,000. 96.74% of the stock is owned by institutional investors and hedge funds.

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.