Valaris (NYSE:VAL) Hits New 1-Year High at $84.20

Valaris Limited (NYSE:VAL) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $84.20 and last traded at $83.34, with a volume of 300010 shares traded. The stock had previously closed at $78.59.

Wall Street Analyst Weigh In

VAL has been the topic of several analyst reports. Pickering Energy Partners lowered Valaris from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 16th. StockNews.com raised Valaris to a “sell” rating in a research note on Friday, April 26th. Barclays reduced their price objective on Valaris from $102.00 to $98.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Finally, Benchmark reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Valaris in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $99.20.

Valaris Stock Up 2.5 %

The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a market capitalization of $5.83 billion, a P/E ratio of 6.89 and a beta of 1.21. The firm has a 50-day simple moving average of $74.89 and a 200 day simple moving average of $71.05.

Valaris (NYSE:VAL) last posted its earnings results on Wednesday, May 1st. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). The firm had revenue of $525.00 million during the quarter, compared to the consensus estimate of $503.00 million. Valaris had a net margin of 44.93% and a return on equity of 3.81%. On average, equities research analysts forecast that Valaris Limited will post 4.37 EPS for the current year.

Hedge Funds Weigh In On Valaris

Several large investors have recently bought and sold shares of the company. nVerses Capital LLC bought a new position in Valaris in the second quarter valued at about $298,000. Hosking Partners LLP raised its position in shares of Valaris by 8.0% during the second quarter. Hosking Partners LLP now owns 256,484 shares of the company’s stock worth $19,108,000 after acquiring an additional 19,016 shares during the last quarter. Meixler Investment Management Ltd. raised its position in shares of Valaris by 2.6% during the second quarter. Meixler Investment Management Ltd. now owns 34,044 shares of the company’s stock worth $2,536,000 after acquiring an additional 853 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Valaris by 5.2% during the second quarter. Bank of New York Mellon Corp now owns 586,228 shares of the company’s stock worth $43,674,000 after acquiring an additional 29,128 shares during the last quarter. Finally, World Equity Group Inc. raised its position in shares of Valaris by 1.9% during the second quarter. World Equity Group Inc. now owns 12,827 shares of the company’s stock worth $956,000 after acquiring an additional 238 shares during the last quarter. 96.74% of the stock is currently owned by 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.