Valaris (NYSE:VAL) Trading Up 4% – Here’s What Happened
by Doug Wharley · The Cerbat GemShares of Valaris Limited (NYSE:VAL – Get Free Report) shot up 4% during mid-day trading on Tuesday . The stock traded as high as $84.37 and last traded at $84.5460. 100,193 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 1,203,223 shares. The stock had previously closed at $81.27.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on VAL shares. Weiss Ratings raised shares of Valaris from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 17th. Susquehanna raised their target price on Valaris from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $66.60.
View Our Latest Analysis on Valaris
Valaris Stock Down 6.4%
The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.34. The business has a 50-day simple moving average of $82.38 and a 200-day simple moving average of $88.65. The stock has a market cap of $5.73 billion, a P/E ratio of 6.17 and a beta of 0.93.
Valaris (NYSE:VAL – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.41. Valaris had a net margin of 43.95% and a return on equity of 9.25%. The company had revenue of $539.20 million for the quarter, compared to analyst estimates of $488.52 million. During the same quarter last year, the firm posted $1.61 earnings per share. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. Analysts expect that Valaris Limited will post 3.25 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the company. HBK Investments L P acquired a new position in Valaris during the 2nd quarter worth $114,355,000. Engineers Gate Manager LP bought a new position in shares of Valaris in the second quarter worth about $1,068,000. Squarepoint Ops LLC increased its stake in shares of Valaris by 48.7% in the second quarter. Squarepoint Ops LLC now owns 238,445 shares of the company’s stock worth $17,311,000 after purchasing an additional 78,105 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Valaris in the second quarter worth about $276,000. Finally, BTG Pactual Asset Management US LLC acquired a new position in shares of Valaris during the 2nd quarter worth about $2,258,000. Institutional investors own 96.74% of the company’s stock.
About Valaris
Valaris Limited (NYSE: VAL) is an offshore contract drilling company that provides drilling services to energy companies worldwide. The company supports exploration and production activities in offshore oil and natural gas fields, operating mobile offshore drilling units for customers under contract.
Valaris’ fleet includes drillships, semisubmersible rigs and jackup rigs. These units are designed for a range of offshore environments, from relatively shallow waters to deepwater and harsh-environment locations.