Citigroup Lowers Valaris (NYSE:VAL) Price Target to $58.00

Valaris (NYSE:VAL) had its target price dropped by research analysts at Citigroup from $62.00 to $58.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective indicates a potential upside of 15.70% from the company’s previous close.

Several other equities research analysts also recently commented on VAL. Susquehanna boosted their target price on shares of Valaris from $49.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Zacks Research raised Valaris from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Wall Street Zen raised Valaris from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Capital One Financial set a $55.00 target price on Valaris in a research report on Monday, September 15th. Finally, SEB Equity Research set a $45.50 price target on Valaris in a research report on Monday, September 1st. One research analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Valaris currently has an average rating of “Hold” and an average target price of $53.56.

Valaris Stock Up 1.2%

NYSE:VAL traded up $0.62 on Monday, hitting $50.13. The stock had a trading volume of 126,980 shares, compared to its average volume of 1,532,501. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.44. Valaris has a 52 week low of $27.15 and a 52 week high of $61.70. The business’s fifty day moving average is $54.68 and its 200 day moving average is $50.34. The company has a market cap of $3.49 billion, a PE ratio of 8.94 and a beta of 1.16.

Valaris (NYSE:VAL) last issued its earnings results on Wednesday, October 29th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $1.65. Valaris had a return on equity of 17.27% and a net margin of 16.51%.The company had revenue of $595.70 million for the quarter, compared to analyst estimates of $568.41 million. The firm’s revenue was down 7.4% compared to the same quarter last year. On average, equities research analysts expect that Valaris will post 3.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Valaris

Several large investors have recently added to or reduced their stakes in VAL. Schf GPE LLC bought a new stake in Valaris during the second quarter valued at $77,675,000. Tensile Capital Management LP purchased a new stake in shares of Valaris in the 1st quarter valued at about $25,912,000. American Century Companies Inc. boosted its position in shares of Valaris by 87.1% during the 3rd quarter. American Century Companies Inc. now owns 1,274,038 shares of the company’s stock valued at $62,135,000 after acquiring an additional 592,971 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its holdings in shares of Valaris by 8,034.0% during the third quarter. ANTIPODES PARTNERS Ltd now owns 580,198 shares of the company’s stock worth $28,298,000 after purchasing an additional 573,065 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC raised its stake in Valaris by 108.9% in the third quarter. Goehring & Rozencwajg Associates LLC now owns 902,440 shares of the company’s stock valued at $44,012,000 after purchasing an additional 470,419 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

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.