Valaris (NYSE:VAL) Trading Down 7.2% – Here’s Why

Valaris Limited (NYSE:VAL)’s stock price dropped 7.2% on Thursday . The company traded as low as $77.07 and last traded at $77.1020. Approximately 146,523 shares were traded during trading, a decline of 89% from the average daily volume of 1,277,848 shares. The stock had previously closed at $83.05.

Analyst Upgrades and Downgrades

VAL has been the subject of a number of recent analyst reports. Pareto Securities downgraded shares of Valaris from a “hold” rating to a “sell” rating and set a $80.00 target price for the company. in a research report on Monday, February 23rd. Susquehanna raised their price objective on shares of Valaris from $96.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 7th. BTIG Research downgraded shares of Valaris from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Weiss Ratings downgraded shares of Valaris from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Nine investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $63.19.

Valaris Trading Down 5.9%

The company has a market cap of $5.41 billion, a price-to-earnings ratio of 5.47 and a beta of 0.91. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.34. The firm’s 50-day moving average price is $95.24 and its 200 day moving average price is $80.24.

Valaris (NYSE:VAL) last announced its quarterly earnings data on Monday, May 4th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.19). The company had revenue of $465.40 million for 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 quarterly revenue was down 25.0% compared to the same quarter last year. During the same period last year, the business earned ($0.53) EPS. As a group, equities analysts expect that Valaris Limited will post 3.18 EPS for the current year.

Hedge Funds Weigh In On Valaris

Large investors have recently modified their holdings of the company. Wexford Capital LP bought a new position in shares of Valaris in the 3rd quarter worth $41,000. Parallel Advisors LLC lifted its holdings in shares of Valaris by 33.5% in the 1st quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $104,000 after purchasing an additional 267 shares in the last quarter. Longview Financial Advisors Inc. bought a new position in shares of Valaris in the 1st quarter worth $105,000. Signaturefd LLC lifted its holdings in shares of Valaris by 22.1% in the 4th quarter. Signaturefd LLC now owns 1,133 shares of the company’s stock worth $57,000 after purchasing an additional 205 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Valaris by 240.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,853 shares of the company’s stock worth $78,000 after purchasing an additional 1,308 shares in the last quarter. 96.74% of the stock is currently 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.