Morgan Stanley Lowers Superior Energy Services (NYSE:SPN) Price Target to $3.00

Superior Energy Services (NYSE:SPN) had its price target decreased by investment analysts at Morgan Stanley from $5.00 to $3.00 in a research report issued on Friday, BenzingaRatingsTable reports. The brokerage currently has an “underweight” rating on the oil and gas company’s stock. Morgan Stanley’s price target indicates a potential upside of 156.41% from the company’s current price.

A number of other brokerages also recently weighed in on SPN. ValuEngine downgraded Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Scotiabank downgraded Superior Energy Services from an “outperform” rating to a “sector perform” rating in a report on Wednesday, June 5th. Raymond James set a $8.00 target price on Superior Energy Services and gave the company a “buy” rating in a report on Wednesday, April 17th. Barclays raised their target price on NetEase from $300.00 to $320.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Finally, Jefferies Financial Group raised their target price on Broadcom from $314.00 to $341.00 and gave the company a “buy” rating in a report on Friday, March 15th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $6.26.

Shares of SPN stock opened at $1.17 on Friday. The firm has a fifty day simple moving average of $1.48. The firm has a market cap of $182.47 million, a P/E ratio of -1.30 and a beta of 2.31. Superior Energy Services has a fifty-two week low of $1.13 and a fifty-two week high of $11.14. The company has a debt-to-equity ratio of 5.18, a quick ratio of 1.76 and a current ratio of 2.12.

Superior Energy Services (NYSE:SPN) last issued its earnings results on Tuesday, April 23rd. The oil and gas company reported ($0.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.07). The business had revenue of $467.20 million during the quarter, compared to analyst estimates of $495.35 million. Superior Energy Services had a negative net margin of 40.00% and a negative return on equity of 19.11%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.34) EPS. Analysts expect that Superior Energy Services will post -0.86 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in SPN. Versant Capital Management Inc raised its position in Superior Energy Services by 1,609.3% during the 1st quarter. Versant Capital Management Inc now owns 6,427 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 6,051 shares during the last quarter. CIBC Asset Management Inc bought a new position in shares of Superior Energy Services in the 4th quarter worth about $67,000. Teza Capital Management LLC bought a new position in shares of Superior Energy Services in the 1st quarter worth about $68,000. CWM Advisors LLC raised its position in shares of Superior Energy Services by 116.8% in the 4th quarter. CWM Advisors LLC now owns 24,818 shares of the oil and gas company’s stock worth $83,000 after acquiring an additional 13,371 shares in the last quarter. Finally, Magnus Financial Group LLC bought a new position in shares of Superior Energy Services in the 4th quarter worth about $94,000. 98.84% of the stock is owned by institutional investors and hedge funds.

About Superior Energy Services

Superior Energy Services, Inc provides oilfield services and equipment to oil and natural gas exploration and production companies in the United States, the Gulf of Mexico, and internationally. The company operates in four segments: Drilling Products and Services, Onshore Completion and Workover Services, Production Services, and Technical Solutions.

Featured Story: Futures Contract

Analyst Recommendations for Superior Energy Services (NYSE:SPN)

Receive News & Ratings for Superior Energy Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Superior Energy Services and related companies with MarketBeat.com's FREE daily email newsletter.