Valaris (NYSE:VAL) Stock Rating Lowered by Evercore ISI

Valaris (NYSE:VAL) was downgraded by research analysts at Evercore ISI from an “outperform” rating to an “in-line” rating in a research report issued on Wednesday, Marketbeat Ratings reports. They presently have a $59.00 price objective on the stock, down from their previous price objective of $87.00. Evercore ISI’s price objective suggests a potential upside of 21.65% from the company’s current price.

VAL has been the topic of a number of other research reports. Citigroup cut Valaris from a “buy” rating to a “neutral” rating and cut their price target for the company from $58.00 to $47.00 in a report on Monday, December 9th. JPMorgan Chase & Co. initiated coverage on shares of Valaris in a research note on Friday, December 6th. They set an “underweight” rating and a $40.00 target price on the stock. Benchmark lowered shares of Valaris from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Susquehanna lowered their price objective on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Finally, Barclays restated an “equal weight” rating and issued a $49.00 target price (down from $59.00) on shares of Valaris in a research report on Wednesday, December 18th. Two investment 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, Valaris has an average rating of “Hold” and an average target price of $56.67.

Valaris Stock Up 4.7 %

VAL stock opened at $48.50 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.51. The firm’s 50-day simple moving average is $45.59 and its 200 day simple moving average is $55.99. The stock has a market cap of $3.45 billion, a PE ratio of 3.33 and a beta of 1.10. Valaris has a fifty-two week low of $39.90 and a fifty-two week high of $84.20.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VAL. Lingotto Investment Management LLP boosted its stake in shares of Valaris by 1.2% during the 2nd quarter. Lingotto Investment Management LLP now owns 3,040,610 shares of the company’s stock worth $226,525,000 after acquiring an additional 36,870 shares in the last quarter. State Street Corp lifted its holdings in shares of Valaris by 4.8% during the third quarter. State Street Corp now owns 2,446,006 shares of the company’s stock valued at $136,365,000 after purchasing an additional 112,216 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Valaris by 5.9% during the second quarter. Marshall Wace LLP now owns 1,882,846 shares of the company’s stock valued at $140,272,000 after purchasing an additional 105,330 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Valaris by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,519,644 shares of the company’s stock valued at $84,736,000 after purchasing an additional 66,229 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Valaris by 23.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company’s stock worth $88,573,000 after purchasing an additional 225,283 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

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.