Valaris (NYSE:VAL) Price Target Cut to $91.00 by Analysts at Barclays

Valaris (NYSE:VAL) had its target price cut by Barclays from $98.00 to $91.00 in a report released on Friday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also commented on VAL. Benchmark reaffirmed a buy rating and issued a $90.00 price target on shares of Valaris in a report on Monday, August 5th. StockNews.com upgraded Valaris to a sell rating in a research note on Friday, April 26th. Finally, Pickering Energy Partners cut Valaris from an outperform rating to a neutral rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Valaris currently has an average rating of Moderate Buy and a consensus target price of $97.80.

Valaris Stock Performance

Shares of NYSE VAL traded down $0.56 during trading on Friday, reaching $64.73. The stock had a trading volume of 1,065,299 shares, compared to its average volume of 960,724. The firm’s 50 day moving average price is $73.65 and its two-hundred day moving average price is $71.02. Valaris has a one year low of $60.06 and a one year high of $84.20. The stock has a market cap of $4.69 billion, a PE ratio of 5.66 and a beta of 1.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.73 and a current ratio of 1.73.

Institutional Investors Weigh In On Valaris

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in shares of Valaris by 23.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company’s stock worth $88,573,000 after buying an additional 225,283 shares in the last quarter. BOKF NA lifted its position in Valaris by 61.7% in the second quarter. BOKF NA now owns 26,219 shares of the company’s stock worth $1,953,000 after purchasing an additional 10,000 shares during the period. Choreo LLC bought a new position in Valaris during the 2nd quarter valued at $204,000. Emerald Advisers LLC increased its position in shares of Valaris by 12.8% during the 2nd quarter. Emerald Advisers LLC now owns 254,883 shares of the company’s stock valued at $18,989,000 after purchasing an additional 28,933 shares during the period. Finally, Emerald Mutual Fund Advisers Trust boosted its stake in Valaris by 18.8% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 215,263 shares of the company’s stock valued at $16,037,000 after buying an additional 34,040 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors.

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.