Valaris (NYSE:VAL) Given New $75.00 Price Target at Susquehanna

Valaris (NYSE:VAL) had its price objective cut by Susquehanna from $98.00 to $75.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Susquehanna’s target price indicates a potential upside of 0.41% from the company’s previous close.

Separately, Weiss Ratings lowered Valaris from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Nine investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Valaris currently has an average rating of “Reduce” and a consensus target price of $60.31.

Valaris Trading Up 1.6%

Shares of VAL stock opened at $74.70 on Wednesday. The firm has a fifty day moving average of $90.28 and a 200-day moving average of $82.14. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 5.23 and a beta of 0.93. Valaris has a 52-week low of $43.53 and a 52-week high of $114.12. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.55 and a current ratio of 1.55.

Valaris (NYSE:VAL) last posted its quarterly earnings results on Monday, May 4th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.19). The business had revenue of $465.40 million during the quarter, compared to analyst estimates of $443.75 million. Valaris had a return on equity of 12.31% and a net margin of 45.37%.The business’s revenue for the quarter was down 25.0% on a year-over-year basis. During the same period last year, the company earned ($0.53) EPS. On average, equities research analysts forecast that Valaris will post 3.18 earnings per share for the current fiscal year.

Institutional Trading of Valaris

Several hedge funds have recently modified their holdings of the stock. Harbor Investment Advisory LLC acquired a new position in Valaris during the 2nd quarter worth $46,000. DV Trading LLC raised its position in shares of Valaris by 5,533.3% during the first quarter. DV Trading LLC now owns 16,900 shares of the company’s stock worth $1,657,000 after acquiring an additional 16,600 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Valaris by 103.4% during the first quarter. Janus Henderson Group PLC now owns 55,868 shares of the company’s stock valued at $5,481,000 after acquiring an additional 28,400 shares during the period. Amundi bought a new position in Valaris in the first quarter valued at about $787,000. Finally, California State Teachers Retirement System boosted its holdings in Valaris by 23.1% in the first quarter. California State Teachers Retirement System now owns 74,181 shares of the company’s stock valued at $7,273,000 after acquiring an additional 13,897 shares during the last quarter. 96.74% of the stock is owned by institutional investors.

Valaris Company Profile

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.