Shares of Superior Energy Services, Inc. (NYSE:SPN) have been given an average rating of “Hold” by the twenty-two ratings firms that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $4.20.
Several research firms have commented on SPN. Scotiabank set a $2.00 price target on shares of Superior Energy Services and gave the stock a “hold” rating in a research note on Monday, August 26th. Piper Jaffray Companies downgraded shares of Superior Energy Services from an “overweight” rating to a “neutral” rating and set a $1.00 price target on the stock. in a research note on Friday, July 26th. Morgan Stanley decreased their price target on shares of Superior Energy Services from $5.00 to $3.00 and set an “underweight” rating on the stock in a research note on Friday, July 12th. Susquehanna Bancshares downgraded shares of Superior Energy Services from a “positive” rating to a “neutral” rating and decreased their price target for the stock from $7.00 to $1.50 in a research note on Wednesday, July 10th. Finally, Bank of America dropped coverage on shares of Superior Energy Services in a research note on Wednesday, August 28th.
In other news, EVP Brian K. Moore bought 1,000,000 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were purchased at an average price of $0.09 per share, for a total transaction of $90,000.00. Following the completion of the acquisition, the executive vice president now owns 1,398,074 shares of the company’s stock, valued at $125,826.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James M. Funk bought 50,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was purchased at an average price of $0.83 per share, for a total transaction of $41,500.00. Following the acquisition, the director now directly owns 82,179 shares of the company’s stock, valued at approximately $68,208.57. The disclosure for this purchase can be found here. Insiders bought 2,215,002 shares of company stock worth $281,950 in the last 90 days. Company insiders own 4.02% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Nuveen Asset Management LLC bought a new position in shares of Superior Energy Services in the second quarter worth approximately $1,981,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Superior Energy Services by 23.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 431,145 shares of the oil and gas company’s stock worth $560,000 after purchasing an additional 83,000 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Superior Energy Services by 794.7% in the second quarter. Jane Street Group LLC now owns 130,587 shares of the oil and gas company’s stock worth $170,000 after purchasing an additional 115,992 shares during the last quarter. D. E. Shaw & Co. Inc. grew its holdings in shares of Superior Energy Services by 5.6% in the second quarter. D. E. Shaw & Co. Inc. now owns 5,601,581 shares of the oil and gas company’s stock worth $7,282,000 after purchasing an additional 296,570 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of Superior Energy Services in the second quarter worth approximately $32,000. Hedge funds and other institutional investors own 92.43% of the company’s stock.
SPN remained flat at $$0.15 on Thursday. The business has a 50 day moving average price of $0.27 and a 200 day moving average price of $1.68. The company has a market capitalization of $23.50 million, a P/E ratio of -0.17 and a beta of 2.46. The company has a current ratio of 2.48, a quick ratio of 2.07 and a debt-to-equity ratio of 7.56. Superior Energy Services has a one year low of $0.07 and a one year high of $11.14.
Superior Energy Services (NYSE:SPN) last announced its earnings results on Tuesday, July 23rd. The oil and gas company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.06). The company had revenue of $436.32 million during the quarter, compared to analysts’ expectations of $466.52 million. Superior Energy Services had a negative net margin of 44.19% and a negative return on equity of 33.30%. During the same period in the prior year, the business earned ($0.16) earnings per share. Sell-side analysts forecast that Superior Energy Services will post -0.97 earnings per share for the current fiscal year.
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.
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