Valaris (NYSE:VAL) Reaches New 1-Year High – Here’s What Happened

Valaris Limited (NYSE:VAL) reached a new 52-week high on Wednesday . The company traded as high as $62.23 and last traded at $62.13, with a volume of 1278222 shares traded. The stock had previously closed at $58.69.

Wall Street Analyst Weigh In

VAL has been the subject of several recent analyst reports. Citigroup dropped their price target on Valaris from $62.00 to $58.00 and set a “neutral” rating for the company in a research note on Monday, December 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Valaris in a research report on Wednesday, January 21st. BTIG Research lifted their price target on shares of Valaris from $55.00 to $65.00 and gave the company a “buy” rating in a report on Friday, October 31st. Barclays increased their price objective on shares of Valaris from $43.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Finally, Zacks Research cut Valaris from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. One analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Valaris presently has a consensus rating of “Hold” and a consensus price target of $53.56.

Valaris Stock Up 5.9%

The business’s 50 day simple moving average is $54.29 and its 200 day simple moving average is $52.17. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $4.32 billion, a PE ratio of 11.07 and a beta of 1.18.

Institutional Investors Weigh In On Valaris

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its stake in shares of Valaris by 22.1% in the 4th quarter. Signaturefd LLC now owns 1,133 shares of the company’s stock valued at $57,000 after purchasing an additional 205 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Valaris by 1.4% during the 3rd quarter. Quadrant Capital Group LLC now owns 15,301 shares of the company’s stock valued at $746,000 after buying an additional 214 shares during the period. Prudential Financial Inc. lifted its position in Valaris by 4.1% in the second quarter. Prudential Financial Inc. now owns 5,885 shares of the company’s stock worth $248,000 after buying an additional 230 shares during the last quarter. Blume Capital Management Inc. boosted its stake in Valaris by 56.5% during the second quarter. Blume Capital Management Inc. now owns 665 shares of the company’s stock worth $28,000 after buying an additional 240 shares during the period. Finally, UMB Bank n.a. boosted its stake in Valaris by 50.5% during the third quarter. UMB Bank n.a. now owns 778 shares of the company’s stock worth $38,000 after buying an additional 261 shares during the period. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

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.