Short interest for Valaris gives investors a sense of the degree to which investors are betting on the decline of Valaris's stock. Short interest data is updated every two weeks.

Valaris Stock (NYSE:VAL), Short Interest Report

Valaris

Valaris Ltd is the industry leader in offshore drilling services across all water depths and geographies. It is a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups. It operates in Floaters, Jackups, ARO and Others. Its majority of the revenue comes from Floaters segment which includes drillships and semisubmersible rigs.

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Citigourp Global Markets 2% Protected Notes Linked To The Djia

U.S. stock futures were lower this morning, with the Dow futures falling around 50 points on Tuesday.

Calix Issues Weak Q1 Forecast, Joins Diageo And Other Big Stocks Moving Lower In Tuesday&#39;s Pre-Market Session

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Valaris Ltd (NYSE: VAL) won a 1,064-day contract for drillship VALARIS DS-4 from Petroleo Brasileiro S.A.- Petrobras  (NYSE: PBR) offshore Brazil for around $519 million, including mobilization fees &lt;

Valaris Strikes $519M Drillship Deal with Petrobras, Eyes Soaring Earnings in Rig Reshuffle

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Valaris Ltd (NYSE: VAL) reported Q3 2023 revenues of $455.1 million, missing the 

Valaris Misses Q3 Earnings On Weak Floater Revenue Efficiency &amp; Contract Delays

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Shares of oil and gas companies are trading lower amid reports of Middle East peace talks.

The rig&#39;s contract was previously scheduled to end in December 2024. The suspension notice is for a period of up to twelve months and ARO is in discussions with Aramco to determine the effective date of the suspension.

Valaris Says ARO Drilling, Its JV In Saudi Arabia, Received Notice Of Suspension From Aramco For One Of Its 19 Contracted Rigs, Jackup VALARIS 143

Barclays analyst David Anderson maintains Valaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VAL#NYSE">VAL</a>) with a Overweight and lowers the price target from $105 to $102.

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Barclays Maintains Overweight on Valaris, Lowers Price Target to $102

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Earnings Scheduled For February 22, 2024

The company reported quarterly sales of $483.80 million which missed the analyst consensus estimate of $485.43 million by 0.34 percent. This is a 11.58 percent increase over sales of $433.60 million the same period last year.
Q4&nbsp;Net income increased to $829 million from $17 million in the third quarter 2023. Net income for the fourth quarter 2023 included a tax benefit of $790 million.

Valaris Q4 EPS $11.30, Sales $483.80M Miss $485.43M Estimate

Valaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VAL#NYSE">VAL</a>) is set to give its latest quarterly earnings report on Thursday, 2024-02-22. Here's what investors need to know before the announcement.
Analysts estimate that Valaris will report an earnings per share (EPS) of $0.14. 
Valaris bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company missed EPS by $0.11, which was followed by a 2.3% drop in the share price the next day.
Here's a look at Valaris's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.28</td>
<td>-0.26</td>
<td>-0.35</td>
<td>0.57</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.17</td>
<td>-0.39</td>
<td>0.61</td>
<td>0.38</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-2.3%</td>
<td>-1.26%</td>
<td>-4.39%</td>
<td>-8.99%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1708527651_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Valaris were trading at $62.94 as of February 20. Over the last 52-week period, shares are down 1.01%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release. 
<a href="https://www.benzinga.com/quote/VAL/earnings">To track all earnings releases for Valaris visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Outlook For Valaris

U.S. stock futures were lower this morning, with the Dow futures falling around 50 points on Tuesday.
Shares of Calix, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/calx#NYSE">CALX</a>) fell sharply in pre-market trading after the company issued first-quarter adjusted EPS and revenue <a href="https://www.benzinga.com/quote/CALX/earnings">guidance below estimates</a>.
Calix said it sees first-quarter adjusted earnings of 17 cents to 23 cents per share, versus analysts&rsquo; estimates of 38 cents per share. It expects revenue of $225 million to $231 million, versus expectations of $267.57 million, according to data from <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Calix shares dipped 25.4% to $33.03 in pre-market trading.
Here are some big stocks recording losses in today&rsquo;s pre-market trading session.
<ul>
<li>Nyxoah S.A. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nyxh#NASDAQ">NYXH</a>) shares dipped 22.4% to $9.58 in pre-market trading after surging 31% on Monday.</li>
<li>Borr Drilling Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/borr#NYSE">BORR</a>) shares fell 8.9% to $6.72 in pre-market trading.</li>
<li>PDD Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pdd#NASDAQ">PDD</a>) shares slipped 4.8% to $123.95 in pre-market trading after dipping over 8% on Monday.</li>
<li>MINISO Group Holding Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mnso#NYSE">MNSO</a>) shares declined 4.6% to $16.85 in pre-market trading after dipping over 10% on Monday.</li>
<li>Valaris Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/val#NYSE">VAL</a>) shares fell 4.6% to $65.35 in pre-market trading.</li>
<li>BrightSpring Health Services, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/btsg#NASDAQ">BTSG</a>) shares declined 4.3% to $10.11 in pre-market trading following a 4% fall on Monday.</li>
<li>J-Long Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jl#NASDAQ">JL</a>) shares declined 4.1% to $10.90 in pre-market trading after gaining 13% on Monday. J-Long Group&rsquo;s began trading on the Nasdaq Global Market on Jan. 24. The company announced the closing of its initial public offering of 1,400,000 ordinary shares at a public offering price of $5.00 per share and listed the aggregate gross proceeds from the offering at $7 million.</li>
<li>Diageo plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/deo#NYSE">DEO</a>) shares fell 3.2% to $139.90 in pre-market trading as the company reported a decline in profit for the first half of fiscal 2024.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/01/36838488/investor-optimism-improves-slightly-ahead-of-big-earnings-feds-policy-decision"> Investor Optimism Improves Slightly Ahead Of Big Earnings, Fed&#39;s Policy Decision</a>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a>

Calix Issues Weak Q1 Forecast, Joins Diageo And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

Floater Contract Awards
<ul>
<li>A previously announced 1,064-day contract for drillship VALARIS DS-4 with Petrobras offshore Brazil. Based on the firm contract term, the total contract value is approximately $519 million, inclusive of mobilization fees and additional services. The contract is anticipated to commence late in the fourth quarter 2024, following completion of the rig's current contract with Petrobras, which is expected to finish in September 2024. Upon completion of its current contract, the rig is expected to be out of service for approximately 90 days to complete customer-required capital upgrades prior to commencement of the new contract.</li>
<li>Two-year contract extension with Anadarko Petroleum Corporation (a wholly owned subsidiary of Occidental) in the U.S. Gulf of Mexico for drillship VALARIS DS-16, commencing in June 2024 in direct continuation of the existing firm program. This extension replaces the one-year priced option which was agreed in July 2021. An additional day rate will be charged when MPD services are provided.</li>
<li>60-day priced option exercised by Equinor offshore Brazil for drillship VALARIS DS-17. The 60-day option is expected to commence in March 2025 in direct continuation of the existing firm contract. The operating day rate for the priced option period is approximately $447,000 including MPD and additional services.</li>
</ul>
Jackup Contract Awards
<ul>
<li>Three-year contract extension with Harbour Energy in the UK North Sea for heavy duty harsh environment jackup VALARIS 120. The extension period is expected to commence in the third quarter 2025 in direct continuation of the existing firm program.</li>
<li>A rig contract with TotalEnergies in the UK North Sea for heavy duty ultra-harsh environment jackup VALARIS Stavanger. The contract is expected to commence in March 2024 and has an estimated duration of 330 days excluding options. The approximate total contract value is $48 million including minor rig modifications.</li>
<li>Two one-well priced options exercised by Shell in the UK North Sea for heavy duty harsh environment jackup VALARIS 121. The options are expected to commence in the summer of 2024, in direct continuation of the existing firm program, and have an estimated duration of 406 days. The priced option periods have an estimated total contract value of approximately $55 million.</li>
<li>One-well contract with Ithaca Energy in the UK North Sea for heavy duty harsh environment jackup VALARIS 123. The contract is expected to commence in April 2024 and has an estimated duration of between 45 and 72 days. The minimum total contract value is $6.3 million.</li>
<li>One well contract with Eni for heavy duty ultra-harsh environment jackup VALARIS 247. The contract is expected to commence in the third quarter 2024 in direct continuation of the rig's current program, with another operator, and has a minimum duration of 45 days. The operating day rate is $180,000.</li>
<li>One-well option exercised by an undisclosed operator offshore Trinidad for heavy duty ultra-harsh environment jackup VALARIS 249. The one-well option will extend the firm term of the contract by a minimum of 35 days. The operating day rate for the option period is $137,500.</li>
<li>300-day contract with an undisclosed operator offshore Trinidad for heavy duty ultra-harsh environment jackup VALARIS 249. The contract is expected to commence in the fourth quarter 2024 in direct continuation of a program with another operator. The operating day rate is $162,500.</li>
<li>In conjunction with the above-mentioned contract extension and award for VALARIS 249, a previously disclosed one-well contract with the same operator offshore Australia for VALARIS 107 has been terminated. The terminated contract was expected to commence in the first quarter 2024 with an estimated duration of 60 days. The operating day rate for the terminated contract was $120,000.</li>
</ul>
Other Fleet Status Updates
<ul>
<li>Drillship VALARIS DS-8 commenced a previously disclosed three-year contract with Petrobras offshore Brazil on December 31, 2023. The backlog associated with this contract is not included in the above-mentioned incremental backlog that has been awarded since the Company's most recent fleet status report.</li>
<li>As previously announced, Valaris has exercised its options and taken delivery of newbuild drillships VALARIS DS-13 and DS-14 for an aggregate purchase price of approximately $337 million. The rigs are being mobilized from South Korea to Las Palmas, Spain, where they will be stacked until they are contracted for work.</li>
</ul>

Valaris Announces ~$1.14B Contract Awards

Valaris Ltd&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/val#NYSE">VAL</a>) won a 1,064-day contract for drillship VALARIS DS-4 from&nbsp;Petroleo Brasileiro S.A.- Petrobras&nbsp;&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pbr#NYSE">PBR</a>) offshore Brazil for around $519 million, including mobilization fees&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/24/01/b36450298/valaris-announces-multi-year-contract-award-for-drillship-valaris-ds-4" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">and additional services</a>.
The company won the contract following a competitive bidding process.
Valaris expects the contract to start late in Q4 2024, following the completion of the rig&#39;s current contract with Petrobras, which is projected to finish in September 2024.&nbsp;
Post completion of its current contract, the rig is expected to be out of service for about 90 days to complete customer-required capital upgrades before the commencement of the new agreement.
Anton Dibowitz, President and Chief Executive Officer, said, &quot;We have previously stated that we expect Valaris&#39; earnings and cash flow to increase meaningfully as rigs are recontracted at market rates. This contract award for VALARIS DS-4 is a great example of how we are executing on the operating leverage inherent in our business, with the rig repricing from a day rate in the low $200,000s to an effective day rate in the high $400,000s.&quot;
Last month, VAL exercised its options and took delivery of newbuild drillships VALARIS DS-13 and DS-14&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/12/b36342751/valaris-takes-delivery-of-newbuild-drillships-valaris-ds-13-and-ds-14" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">for about $337 million</a>.
As of September 30, 2023, VAL&#39;s cash and equivalents&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/11/b35634886/valaris-reports-third-quarter-2023-results" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">stood at $1.1 billion.</a>
Price Action: VAL shares are trading higher by 1.41% at $69.54 on the last check Tuesday.

Valaris Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VAL#NYSE">VAL</a>) ("Valaris" or the "Company") announced today that it has been awarded a 1,064-day contract for drillship VALARIS DS-4 with Petrobras offshore Brazil following a competitive bidding process. Based on the firm contract term, the total contract value is approximately $519 million, inclusive of mobilization fees and additional services.
The contract is anticipated to commence late in the fourth quarter 2024, following completion of the rig's current contract with Petrobras, which is expected to finish in September 2024. Upon completion of its current contract, the rig is expected to be out of service for approximately 90 days to complete customer-required capital upgrades prior to commencement of the new contract.
President and Chief Executive Officer Anton Dibowitz said, "We are delighted to have secured further work for drillship VALARIS DS-4 with Petrobras for their upcoming Buzios program and we look forward to continuing to partner with Petrobras on their programs offshore Brazil, a market where we expect to see continued growth over the next several years. We have previously stated that we expect Valaris' earnings and cash flow to increase meaningfully as rigs are recontracted at market rates. This contract award for VALARIS DS-4 is a great example of how we are executing on the operating leverage inherent in our business, with the rig repricing from a day rate in the low $200,000s to an effective day rate in the high $400,000s."

Valaris Announces Multi-Year Contract Award For Drillship VALARIS DS-4; Total Contract Value Is ~$519M, Inclusive Of Mobilization Fees And Additional Services

VALARIS DS-13 and DS-14 will be mobilized from South Korea to Las Palmas, Spain, where the rigs will be stacked until they are contracted for work. The purchase of the rigs is expected to increase the Company's fourth quarter 2023 capital expenditures by approximately $355 million, representing the purchase price for the rigs and costs associated with preparing the rigs to mobilize from South Korea to Las Palmas. In addition, the Company anticipates 2024 capital expenditures of approximately $35 million primarily related to mobilization costs.

Valaris Limited Announced Today That It Exercised Its Options And Taken Delivery Of Newbuild Drillships Valaris DS-13 And DS-14 For An Aggregate Purchase Price Of ~$337M

Over the past 3 months, 4 analysts have published their opinion on Valaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VAL#NYSE">VAL</a>) stock. These analysts are typically employed by large Wall Street banks and tasked with understanding a company's business to predict how a stock will trade over the upcoming year.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
These 4 analysts have an average price target of $99.0 versus the current price of Valaris at $65.03, implying upside.
Below is a summary of how these 4 analysts rated Valaris over the past 3 months. The greater the number of bullish ratings, the more positive analysts are on the stock and the greater the number of bearish ratings, the more negative analysts are on the stock
<img src="https://www.benzinga.com/files/images/story/2023/1699470038_0.png" alt="price target chart" />
This current average has not changed from the previous average price target. 
<a href="https://www.benzinga.com/quote/VAL/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Valaris analyst ratings.</a>
<h1>Analyst Ratings: What Are They?</h1>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings for Valaris

Benchmark analyst Kurt Hallead reiterates Valaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VAL#NYSE">VAL</a>) with a Buy and maintains $90 price target.

Reiteration

Benchmark Reiterates Buy on Valaris, Maintains $90 Price Target

Valaris Ltd&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/val#NYSE">VAL</a>) reported Q3 2023 revenues of $455.1 million, missing the&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/11/b35634886/valaris-reports-third-quarter-2023-results" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">consensus of $469.4 million</a>.
Excluding reimbursable items, revenues increased to $427.2 million sequentially on two jackups and one floater commencing contracts and an increase in average daily revenue for both the floater and jackup fleets.
In Q3, the company got new contracts and extensions, with an associated contract backlog of around $465 million, increasing to $3.2 billion.&nbsp;
Contract drilling expenses stood at $390.9 million (vs. $336.7 million in Q3 FY22). Adjusted EBITDA stood at $40.0 million vs. $83.5 million a year ago.
EPS of $0.17 was worse than the consensus<a class="editor-rtfLink" href="https://www.benzinga.com/calendars/earnings" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">&nbsp;of $0.28</a>.
The Q3 FY23 results were lower than prior guidance, mainly due to lower-than-expected floater revenue efficiency and two contract commencement delays.
Capital expenditures increased to $106 million in Q3 from $71.0 million in Q2 2023. As of September 30, 2023, cash and equivalents stood at $1.1 billion.
Valaris repurchased $85 million of shares in Q3 and $171 million to date. The company reiterated the 2023 share repurchase target at $200 million.
&quot;The outlook for Valaris is positive, with increasing demand and constrained supply tightening the market. We are confident in the strength and duration of this upcycle, and we expect to deliver meaningfully improved earnings in both 2024 and 2025 due to the impact of recent and ongoing drillship reactivations at attractive day rates, as well as the repricing of rigs from legacy day rate contracts to higher markets rates,&quot; said Anton Dibowitz, President and CEO.
Price Action: VAL shares closed lower by 3.14% at $66.96 on Monday.

Valaris Misses Q3 Earnings On Weak Floater Revenue Efficiency & Contract Delays

Valaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VAL#NYSE">VAL</a>) reported quarterly earnings of $0.17 per share which missed the analyst consensus estimate of $0.28 by 39.29 percent. This is a 82.65 percent decrease over earnings of $0.98 per share from the same period last year. The company reported quarterly sales of $455.10 million which missed the analyst consensus estimate of $473.72 million by 3.93 percent. This is a 4.09 percent increase over sales of $437.20 million the same period last year.

Valaris Q3 EPS $0.17 Misses $0.28 Estimate, Sales $455.10M Miss $473.72M Estimate

Valaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VAL#NYSE">VAL</a>) is set to give its latest quarterly earnings report on Tuesday, 2023-11-07. Here's what investors need to know before the announcement.
Analysts estimate that Valaris will report an earnings per share (EPS) of $0.28. 
Valaris bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company missed EPS by $0.13, which was followed by a 1.26% drop in the share price the next day.
Here's a look at Valaris's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
<th>Q3 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-0.26</td>
<td>-0.35</td>
<td>0.57</td>
<td>0.37</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-0.39</td>
<td>0.61</td>
<td>0.38</td>
<td>0.98</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-1.26%</td>
<td>-4.39%</td>
<td>-8.99%</td>
<td>-5.99%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2023/1699279287_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Valaris were trading at $69.13 as of November 02. Over the last 52-week period, shares are up 3.44%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<a href="https://www.benzinga.com/quote/VAL/earnings">To track all earnings releases for Valaris visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Preview Of Valaris's Earnings

Citigroup analyst Nikhil Gupta maintains Valaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VAL#NYSE">VAL</a>) with a Buy and lowers the price target from $113 to $103.

Citigroup Maintains Buy on Valaris, Lowers Price Target to $103

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CVX</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/20/23</td>
<td>$145.00</td>
<td>$80.0K</td>
<td>11.0K</td>
<td>10.0K</td>
</tr>
<tr>
<td>EC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/20/23</td>
<td>$10.00</td>
<td>$52.9K</td>
<td>410</td>
<td>1.4K</td>
</tr>
<tr>
<td>SLB</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/16/24</td>
<td>$45.00</td>
<td>$29.9K</td>
<td>1.3K</td>
<td>911</td>
</tr>
<tr>
<td>NOG</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/19/24</td>
<td>$20.00</td>
<td>$1.1 million</td>
<td>833</td>
<td>570</td>
</tr>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/17/23</td>
<td>$65.00</td>
<td>$71.0K</td>
<td>10.0K</td>
<td>296</td>
</tr>
<tr>
<td>XOM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/19/24</td>
<td>$100.00</td>
<td>$25.8K</td>
<td>19.9K</td>
<td>253</td>
</tr>
<tr>
<td>HES</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/19/24</td>
<td>$160.00</td>
<td>$141.0K</td>
<td>556</td>
<td>100</td>
</tr>
<tr>
<td>VAL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$100.00</td>
<td>$25.7K</td>
<td>198</td>
<td>22</td>
</tr>
<tr>
<td>EOG</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>10/06/23</td>
<td>$100.00</td>
<td>$38.1K</td>
<td>0</td>
<td>15</td>
</tr>
<tr>
<td>COP</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$95.00</td>
<td>$29.1K</td>
<td>0</td>
<td>10</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For CVX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), we notice a put option trade that happens to be bearish, expiring in 25 day(s) on October 20, 2023. This event was a transfer of 10000 contract(s) at a $145.00 strike. The total cost received by the writing party (or parties) was $80.0K, with a price of $8.0 per contract. There were 11084 open contracts at this strike prior to today, and today 10014 contract(s) were bought and sold. 
• For EC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EC#NYSE">EC</a>), we notice a call option sweep that happens to be bearish, expiring in 25 day(s) on October 20, 2023. This event was a transfer of 200 contract(s) at a $10.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $52.9K, with a price of $265.0 per contract. There were 410 open contracts at this strike prior to today, and today 1448 contract(s) were bought and sold. 
• For SLB (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>), we notice a put option sweep that happens to be bullish, expiring in 144 day(s) on February 16, 2024. This event was a transfer of 389 contract(s) at a $45.00 strike. This particular put needed to be split into 14 different trades to become filled. The total cost received by the writing party (or parties) was $29.9K, with a price of $78.0 per contract. There were 1377 open contracts at this strike prior to today, and today 911 contract(s) were bought and sold. 
• Regarding NOG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOG#NYSE">NOG</a>), we observe a call option trade with neutral sentiment. It expires in 116 day(s) on January 19, 2024. Parties traded 570 contract(s) at a $20.00 strike. The total cost received by the writing party (or parties) was $1.1 million, with a price of $1989.0 per contract. There were 833 open contracts at this strike prior to today, and today 570 contract(s) were bought and sold. 
• Regarding OXY (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>), we observe a put option sweep with bearish sentiment. It expires in 53 day(s) on November 17, 2023. Parties traded 200 contract(s) at a $65.00 strike. This particular put needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $71.0K, with a price of $355.0 per contract. There were 10061 open contracts at this strike prior to today, and today 296 contract(s) were bought and sold. 
• For XOM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), we notice a put option trade that happens to be bearish, expiring in 116 day(s) on January 19, 2024. This event was a transfer of 200 contract(s) at a $100.00 strike. The total cost received by the writing party (or parties) was $25.8K, with a price of $129.0 per contract. There were 19939 open contracts at this strike prior to today, and today 253 contract(s) were bought and sold. 
• Regarding HES (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>), we observe a put option trade with bearish sentiment. It expires in 116 day(s) on January 19, 2024. Parties traded 100 contract(s) at a $160.00 strike. The total cost received by the writing party (or parties) was $141.0K, with a price of $1410.0 per contract. There were 556 open contracts at this strike prior to today, and today 100 contract(s) were bought and sold. 
• Regarding VAL (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VAL#NYSE">VAL</a>), we observe a call option sweep with bearish sentiment. It expires in 452 day(s) on December 20, 2024. Parties traded 31 contract(s) at a $100.00 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $25.7K, with a price of $830.0 per contract. There were 198 open contracts at this strike prior to today, and today 22 contract(s) were bought and sold. 
• For EOG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>), we notice a call option trade that happens to be neutral, expiring in 11 day(s) on October 6, 2023. This event was a transfer of 15 contract(s) at a $100.00 strike. The total cost received by the writing party (or parties) was $38.1K, with a price of $2543.0 per contract. There were 0 open contracts at this strike prior to today, and today 15 contract(s) were bought and sold. 
• For COP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), we notice a call option trade that happens to be bearish, expiring in 235 day(s) on May 17, 2024. This event was a transfer of 10 contract(s) at a $95.00 strike. The total cost received by the writing party (or parties) was $29.1K, with a price of $2910.0 per contract. There were 0 open contracts at this strike prior to today, and today 10 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

10 Energy Stocks With Whale Alerts In Today's Session

<ul>
<li>VALARIS DS-15 &ndash; Estimated Schedule:</li>
</ul>
<table cellspacing="0">
<tbody>
<tr>
<td colspan="1" rowspan="1">
Customer
</td>
<td colspan="1" rowspan="1">
Location
</td>
<td colspan="1" rowspan="1">
Contract Start
Date
</td>
<td colspan="1" rowspan="1">
Contract End
Date(1)
</td>
<td colspan="1" rowspan="1">
Day Rate(2)
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Total Energies
</td>
<td colspan="1" rowspan="1">
Brazil
</td>
<td colspan="1" rowspan="1">
Jun 21
</td>
<td colspan="1" rowspan="1">
Feb 24
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
BP
</td>
<td colspan="1" rowspan="1">
Brazil
</td>
<td colspan="1" rowspan="1">
Mar 24
</td>
<td colspan="1" rowspan="1">
May 24
</td>
<td colspan="1" rowspan="1">
$410,000
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
TotalEnergies
</td>
<td colspan="1" rowspan="1">
Brazil
</td>
<td colspan="1" rowspan="1">
Jun 24
</td>
<td colspan="1" rowspan="1">
Sep 24
</td>
<td colspan="1" rowspan="1">
$254,000
</td>
</tr>
</tbody>
</table>

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