Valaris Target of Unusually High Options Trading (NYSE:VAL)

Valaris Limited (NYSE:VAL) was the recipient of some unusual options trading on Tuesday. Investors acquired 5,483 put options on the stock. This represents an increase of approximately 108% compared to the average daily volume of 2,642 put options.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VAL. Susquehanna lowered their price target on Valaris from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. JPMorgan Chase & Co. began coverage on shares of Valaris in a research note on Friday, December 6th. They issued an “underweight” rating and a $40.00 price target on the stock. StockNews.com upgraded shares of Valaris to a “sell” rating in a research report on Thursday, February 20th. Barclays cut their price objective on Valaris from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 25th. Finally, Citigroup lifted their price target on Valaris from $47.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $55.00.

Institutional Trading of Valaris

Hedge funds have recently made changes to their positions in the company. Quarry LP increased its stake in Valaris by 51.7% during the fourth quarter. Quarry LP now owns 684 shares of the company’s stock worth $30,000 after acquiring an additional 233 shares during the last quarter. Arizona State Retirement System increased its position in shares of Valaris by 1.3% during the 4th quarter. Arizona State Retirement System now owns 19,002 shares of the company’s stock worth $841,000 after purchasing an additional 237 shares during the last quarter. Xponance Inc. raised its holdings in Valaris by 5.5% in the 4th quarter. Xponance Inc. now owns 9,273 shares of the company’s stock valued at $410,000 after buying an additional 487 shares during the period. State of Michigan Retirement System lifted its position in Valaris by 3.3% in the fourth quarter. State of Michigan Retirement System now owns 15,500 shares of the company’s stock valued at $686,000 after buying an additional 500 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Valaris by 41.0% during the fourth quarter. Blue Trust Inc. now owns 1,758 shares of the company’s stock worth $78,000 after buying an additional 511 shares during the period. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Valaris Price Performance

Shares of Valaris stock traded up $0.53 on Tuesday, hitting $33.38. 3,309,295 shares of the company were exchanged, compared to its average volume of 1,876,214. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average price of $44.85 and a 200 day moving average price of $49.37. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 6.49 and a beta of 1.10. Valaris has a 1-year low of $31.15 and a 1-year high of $84.20.

Valaris (NYSE:VAL) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.68. Valaris had a net margin of 15.81% and a return on equity of 17.40%. The firm had revenue of $584.40 million for the quarter, compared to analysts’ expectations of $578.01 million. As a group, sell-side analysts predict that Valaris will post 3.96 earnings per share for the current fiscal year.

About Valaris

Valaris Limited, together with its subsidiaries, provides offshore contract drilling services Gulf of Mexico, South America, North Sea, the Middle East, Africa, and the Asia Pacific. The company operates through four segments: Floaters, Jackups, ARO, and Other. It owns an offshore drilling rig fleet, which include drillships, dynamically positioned semisubmersible rigs, moored semisubmersible rig, and jackup rigs.