Valaris (NYSE:VAL) Shares Up 7% – Time to Buy?

Valaris Limited (NYSE:VAL)’s stock price traded up 7% on Monday . The company traded as high as $111.70 and last traded at $112.8420. 471,481 shares traded hands during trading, a decline of 66% from the average session volume of 1,376,442 shares. The stock had previously closed at $105.43.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VAL. Weiss Ratings cut Valaris from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Pareto Securities cut Valaris from a “hold” rating to a “sell” rating and set a $80.00 target price on the stock. in a report on Monday, February 23rd. Susquehanna lifted their target price on Valaris from $96.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, April 7th. BTIG Research cut Valaris from a “buy” rating to a “hold” rating in a report on Monday, March 9th. Finally, Zacks Research cut Valaris from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Nine investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $63.19.

Valaris Stock Up 6.7%

The company has a debt-to-equity ratio of 0.34, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a market cap of $7.79 billion, a PE ratio of 7.90 and a beta of 0.97. The business has a fifty day moving average price of $95.69 and a two-hundred day moving average price of $73.98.

Valaris (NYSE:VAL) last issued its quarterly earnings results on Monday, May 4th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.19). Valaris had a net margin of 45.37% and a return on equity of 12.31%. The business had revenue of $465.40 million for the quarter, compared to analysts’ expectations of $443.75 million. During the same quarter in the prior year, the firm posted ($0.53) EPS. The business’s quarterly revenue was down 25.0% compared to the same quarter last year. On average, analysts anticipate that Valaris Limited will post 3.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. grew its stake in Valaris by 50.5% in the third quarter. UMB Bank n.a. now owns 778 shares of the company’s stock valued at $38,000 after purchasing an additional 261 shares in the last quarter. Wexford Capital LP purchased a new position in Valaris in the third quarter valued at about $41,000. Signaturefd LLC grew its stake in Valaris by 22.1% in the fourth quarter. Signaturefd LLC now owns 1,133 shares of the company’s stock valued at $57,000 after purchasing an additional 205 shares in the last quarter. Strs Ohio grew its stake in Valaris by 100.0% in the third quarter. Strs Ohio now owns 1,200 shares of the company’s stock valued at $59,000 after purchasing an additional 600 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Valaris by 240.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,853 shares of the company’s stock valued at $78,000 after purchasing an additional 1,308 shares in the last quarter. 96.74% of the stock is 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.