Valaris (NYSE:VAL) Issues Earnings Results

Valaris (NYSE:VAL) issued its earnings results on Thursday. The company reported $10.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $9.86, FiscalAI reports. Valaris had a return on equity of 17.27% and a net margin of 16.51%.The business had revenue of $537.40 million during the quarter, compared to analysts’ expectations of $499.16 million.

Valaris Stock Performance

Shares of NYSE:VAL traded up $1.71 during trading on Thursday, reaching $92.71. 2,127,238 shares of the company’s stock traded hands, compared to its average volume of 1,993,472. The stock has a market capitalization of $6.45 billion, a P/E ratio of 16.53 and a beta of 1.18. Valaris has a 12 month low of $27.15 and a 12 month high of $96.40. The company has a 50 day moving average of $59.44 and a 200-day moving average of $54.63. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.87 and a quick ratio of 1.87.

Analysts Set New Price Targets

Several analysts recently issued reports on VAL shares. Barclays increased their price target on Valaris from $43.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Valaris in a research note on Wednesday, January 21st. Citigroup dropped their price target on shares of Valaris from $62.00 to $58.00 and set a “neutral” rating for the company in a research note on Monday, December 22nd. BTIG Research upped their target price on shares of Valaris from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Zacks Research lowered Valaris from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $53.56.

Institutional Investors Weigh In On Valaris

Large investors have recently made changes to their positions in the company. Wexford Capital LP acquired a new position in shares of Valaris during the third quarter worth approximately $41,000. EverSource Wealth Advisors LLC increased its position in Valaris by 240.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,853 shares of the company’s stock valued at $78,000 after acquiring an additional 1,308 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in Valaris during the 4th quarter valued at $99,000. Mackenzie Financial Corp acquired a new position in Valaris during the 4th quarter worth $202,000. Finally, Stifel Financial Corp bought a new position in shares of Valaris in the fourth quarter worth $206,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

About Valaris

Valaris PLC is a leading provider of offshore drilling services to the global energy industry. The company operates a diverse fleet of mobile offshore drilling units, including drillships, semisubmersibles and jackup rigs, designed to support exploration and production activities in deepwater, ultra-deepwater and harsh?environment settings. Valaris serves a wide range of international oil and gas customers, offering turnkey drilling solutions, project management and advanced technology integration to enhance operational efficiency and safety.

Headquartered in Houston, Texas, Valaris maintains a significant presence in key offshore basins around the world.