Valaris (NYSE:VAL) Downgraded by StockNews.com

StockNews.com lowered shares of Valaris (NYSE:VAL – Get Rating) from a hold rating to a sell rating in a research report report published on Wednesday morning.

VAL stock opened at $57.55 on Wednesday. Valaris has a 12 month low of $20.56 and a 12 month high of $61.70. The business has a 50-day moving average of $51.73. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.53.

Valaris (NYSE:VAL – Get Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.38. Valaris had a negative net margin of 291.76% and a negative return on equity of 344.10%.

Hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. purchased a new position in Valaris during the 1st quarter valued at about $52,000. CI Investments Inc. boosted its stake in Valaris by 34.6% in the 1st quarter. CI Investments Inc. now owns 1,750 shares of the company’s stock worth $91,000 after purchasing an additional 450 shares in the last quarter. FORA Capital LLC acquired a new stake in Valaris in the 1st quarter worth approximately $218,000. Pecaut & CO. acquired a new stake in Valaris in the 1st quarter worth approximately $260,000. Finally, Seven Eight Capital LP acquired a new stake in Valaris in the 1st quarter worth approximately $324,000. 80.47% of the stock is currently owned by institutional investors.

Valaris Company Profile (Get Rating)

Valaris Limited offers offshore contract drilling services to oil and gas industry in Bermuda and internationally. The company owns an offshore drilling rig fleet of 56 rigs, which include 11 drillships, 4 dynamically positioned semisubmersible rigs, 1 moored semisubmersible rig, and 40 jackup rigs. It serves international, government-owned, and independent oil and gas companies in the Gulf of Mexico, the North Sea, the Middle East, West Africa, Australia, and Southeast Asia.

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