Superior Energy Services, Inc. (SPN) Stock Rating Reaffirmed by Jefferies Group LLC

Superior Energy Services, Inc. (NYSE:SPN)‘s stock had its “hold” rating restated by equities research analysts at Jefferies Group LLC in a research report issued to clients and investors on Monday, October 16th. They presently have a $11.00 price target on the oil and gas company’s stock. Jefferies Group LLC’s target price indicates a potential upside of 32.69% from the company’s current price. Jefferies Group also issued estimates for Superior Energy Services’ Q3 2017 earnings at ($0.36) EPS, FY2017 earnings at ($1.60) EPS, Q1 2018 earnings at ($0.18) EPS, Q2 2018 earnings at ($0.15) EPS, Q3 2018 earnings at ($0.11) EPS, Q4 2018 earnings at ($0.06) EPS, FY2018 earnings at ($0.50) EPS, FY2019 earnings at $0.30 EPS and FY2020 earnings at $1.25 EPS.

A number of other research analysts have also weighed in on the stock. Barclays PLC lowered shares of Superior Energy Services from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $18.00 to $11.00 in a research note on Wednesday, July 12th. ValuEngine lowered shares of Superior Energy Services from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Morgan Stanley reissued an “equal weight” rating and issued a $14.00 price target (down from $30.00) on shares of Superior Energy Services in a report on Wednesday, June 21st. Deutsche Bank AG reissued a “buy” rating and issued a $15.00 price target (down from $22.00) on shares of Superior Energy Services in a report on Thursday, July 27th. Finally, BidaskClub downgraded shares of Superior Energy Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $13.82.

Shares of Superior Energy Services (NYSE:SPN) traded up 5.07% during mid-day trading on Monday, hitting $8.29. The stock had a trading volume of 6,085,871 shares. The stock’s market cap is $1.27 billion. Superior Energy Services has a 12-month low of $7.72 and a 12-month high of $19.28. The firm’s 50-day moving average price is $9.91 and its 200 day moving average price is $10.48.

Superior Energy Services (NYSE:SPN) last issued its quarterly earnings results on Monday, October 23rd. The oil and gas company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.01). Superior Energy Services had a negative return on equity of 26.18% and a negative net margin of 24.59%. The company had revenue of $506.00 million for the quarter, compared to analysts’ expectations of $511.23 million. During the same quarter in the previous year, the business earned ($0.73) EPS. The company’s revenue for the quarter was up 55.1% on a year-over-year basis. Equities analysts forecast that Superior Energy Services will post ($1.60) EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Contrarius Investment Management Ltd purchased a new stake in Superior Energy Services in the second quarter worth about $3,279,000. Pzena Investment Management LLC grew its holdings in Superior Energy Services by 1.2% in the second quarter. Pzena Investment Management LLC now owns 3,998,348 shares of the oil and gas company’s stock worth $41,703,000 after purchasing an additional 48,531 shares during the period. Mitchell Group Inc. grew its holdings in Superior Energy Services by 17.7% in the second quarter. Mitchell Group Inc. now owns 2,534,080 shares of the oil and gas company’s stock worth $26,430,000 after purchasing an additional 381,150 shares during the period. Rhumbline Advisers grew its holdings in Superior Energy Services by 14.6% in the second quarter. Rhumbline Advisers now owns 322,557 shares of the oil and gas company’s stock worth $3,364,000 after purchasing an additional 41,064 shares during the period. Finally, Liberty Mutual Group Asset Management Inc. grew its holdings in Superior Energy Services by 1.8% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 68,737 shares of the oil and gas company’s stock worth $980,000 after purchasing an additional 1,192 shares during the period.

About Superior Energy Services

Analyst Recommendations for Superior Energy Services (NYSE:SPN)

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