Valaris (NYSE:VAL) Sets New 52-Week Low – What’s Next?

Valaris Limited (NYSE:VAL) hit a new 52-week low on Monday . The company traded as low as $35.11 and last traded at $35.33, with a volume of 149317 shares changing hands. The stock had previously closed at $35.70.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Citigroup boosted their price target on Valaris from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Evercore ISI downgraded Valaris from an “outperform” rating to an “in-line” rating and dropped their target price for the stock from $87.00 to $59.00 in a report on Wednesday, January 15th. Barclays reduced their price target on Valaris from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, February 25th. 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. Finally, Susquehanna cut their price objective on shares of Valaris from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $55.00.

Valaris Price Performance

The firm has a 50-day moving average of $44.70 and a 200 day moving average of $49.17. The company has a market capitalization of $2.42 billion, a PE ratio of 6.62 and a beta of 1.10. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.59 and a quick ratio of 1.61.

Valaris (NYSE:VAL) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $578.01 million. As a group, research analysts anticipate that Valaris Limited will post 3.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Valaris

A number of hedge funds have recently added to or reduced their stakes in the stock. Lingotto Investment Management LLP grew its holdings in shares of Valaris by 2.5% in the fourth quarter. Lingotto Investment Management LLP now owns 3,637,207 shares of the company’s stock worth $160,910,000 after acquiring an additional 87,420 shares during the period. Centiva Capital LP purchased a new position in Valaris in the third quarter worth about $930,000. XTX Topco Ltd purchased a new position in Valaris in the third quarter worth about $1,862,000. Waverton Investment Management Ltd grew its stake in shares of Valaris by 20.4% during the 3rd quarter. Waverton Investment Management Ltd now owns 670,885 shares of the company’s stock valued at $37,412,000 after purchasing an additional 113,509 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its position in shares of Valaris by 19.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 31,391 shares of the company’s stock valued at $1,750,000 after purchasing an additional 5,184 shares during the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Valaris Company Profile

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.