Superior Energy Services, Inc. (NYSE:SPN) had its price objective decreased by equities researchers at Deutsche Bank AG from $15.00 to $10.00 in a research note issued to investors on Wednesday, October 25th. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Deutsche Bank AG’s price target would indicate a potential upside of 5.82% from the company’s current price.
A number of other analysts have also recently commented on SPN. BMO Capital Markets set a $9.00 price target on shares of Superior Energy Services and gave the company a “hold” rating in a research note on Tuesday, October 24th. Cowen and Company set a $12.00 price target on shares of Superior Energy Services and gave the company an “outperform” rating in a research note on Wednesday, October 25th. Loop Capital set a $13.00 target price on shares of Superior Energy Services and gave the stock a “buy” rating in a research note on Wednesday, October 25th. They noted that the move was a valuation call. Jefferies Group LLC restated a “hold” rating and set a $11.00 target price on shares of Superior Energy Services in a research note on Monday, October 16th. Finally, Wells Fargo & Company cut shares of Superior Energy Services from an “outperform” rating to a “market perform” rating in a research note on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $13.82.
Shares of Superior Energy Services (NYSE SPN) traded down $0.16 during mid-day trading on Wednesday, hitting $9.45. 2,115,100 shares of the stock traded hands, compared to its average volume of 4,090,100. The company has a quick ratio of 1.64, a current ratio of 1.99 and a debt-to-equity ratio of 1.15. Superior Energy Services has a 52 week low of $7.66 and a 52 week high of $19.28.
Superior Energy Services (NYSE:SPN) last released its earnings results on Monday, October 23rd. The oil and gas company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.01). The business had revenue of $506.00 million during the quarter, compared to the consensus estimate of $511.23 million. Superior Energy Services had a negative net margin of 24.59% and a negative return on equity of 26.18%. The firm’s revenue for the quarter was up 55.1% on a year-over-year basis. During the same period last year, the business posted ($0.73) EPS. research analysts anticipate that Superior Energy Services will post -1.63 EPS for the current fiscal year.
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In other news, Director Peter D. Kinnear bought 20,000 shares of Superior Energy Services stock in a transaction dated Monday, October 30th. The stock was purchased at an average price of $8.52 per share, for a total transaction of $170,400.00. Following the purchase, the director now directly owns 64,607 shares in the company, valued at approximately $550,451.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.91% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Contrarius Investment Management Ltd bought a new position in Superior Energy Services during the second quarter valued at about $3,279,000. Shell Asset Management Co. purchased a new stake in Superior Energy Services during the third quarter valued at about $3,317,000. Pzena Investment Management LLC lifted its holdings in Superior Energy Services by 1.2% during the second quarter. Pzena Investment Management LLC now owns 3,998,348 shares of the oil and gas company’s stock valued at $41,703,000 after purchasing an additional 48,531 shares during the last quarter. Mitchell Group Inc. lifted its holdings in Superior Energy Services by 17.7% during the second quarter. Mitchell Group Inc. now owns 2,534,080 shares of the oil and gas company’s stock valued at $26,430,000 after purchasing an additional 381,150 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Superior Energy Services by 14.6% during the second quarter. Rhumbline Advisers now owns 322,557 shares of the oil and gas company’s stock valued at $3,364,000 after purchasing an additional 41,064 shares during the last quarter.
About Superior Energy Services
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