Traders Buy Superior Energy Services (SPN) on Weakness

Investors purchased shares of Superior Energy Services, Inc. (NYSE:SPN) on weakness during trading on Thursday. $22.79 million flowed into the stock on the tick-up and $9.73 million flowed out of the stock on the tick-down, for a money net flow of $13.06 million into the stock. Of all stocks tracked, Superior Energy Services had the 30th highest net in-flow for the day. Superior Energy Services traded down ($0.09) for the day and closed at $11.05

Several analysts have recently weighed in on SPN shares. Cowen set a $14.00 target price on shares of Superior Energy Services and gave the company a “buy” rating in a report on Friday, October 6th. Zacks Investment Research downgraded shares of Superior Energy Services from a “buy” rating to a “hold” rating in a report on Saturday, January 6th. UBS Group raised shares of Superior Energy Services from a “neutral” rating to a “positive” rating in a report on Friday, January 5th. Loop Capital set a $13.00 target price on shares of Superior Energy Services and gave the company a “buy” rating in a report on Wednesday, October 25th. They noted that the move was a valuation call. Finally, Royal Bank of Canada set a $10.00 target price on shares of Superior Energy Services and gave the company a “hold” rating in a report on Thursday, December 21st. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $12.61.

The firm has a market capitalization of $1,690.00, a price-to-earnings ratio of -4.49 and a beta of 2.16. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.99 and a quick ratio of 1.64.

Superior Energy Services (NYSE:SPN) last released its quarterly earnings data on Monday, October 23rd. The oil and gas company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.01). The company had revenue of $506.00 million for the quarter, compared to analysts’ expectations of $511.23 million. Superior Energy Services had a negative return on equity of 26.18% and a negative net margin of 24.59%. The firm’s quarterly revenue was up 55.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.73) EPS. research analysts expect that Superior Energy Services, Inc. will post -1.63 EPS for the current year.

In related news, Director Peter D. Kinnear acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were purchased at an average price of $8.52 per share, with a total value of $170,400.00. Following the completion of the acquisition, the director now owns 64,607 shares in the company, valued at $550,451.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.49% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in SPN. Schwab Charles Investment Management Inc. boosted its holdings in Superior Energy Services by 40.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 771,614 shares of the oil and gas company’s stock worth $8,048,000 after buying an additional 221,799 shares in the last quarter. Comerica Bank boosted its holdings in Superior Energy Services by 0.8% during the second quarter. Comerica Bank now owns 130,803 shares of the oil and gas company’s stock worth $1,366,000 after buying an additional 992 shares in the last quarter. Federated Investors Inc. PA boosted its holdings in Superior Energy Services by 4.9% during the second quarter. Federated Investors Inc. PA now owns 147,684 shares of the oil and gas company’s stock worth $1,540,000 after buying an additional 6,862 shares in the last quarter. Prudential Financial Inc. boosted its holdings in Superior Energy Services by 8.8% during the second quarter. Prudential Financial Inc. now owns 102,653 shares of the oil and gas company’s stock worth $1,071,000 after buying an additional 8,321 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in Superior Energy Services by 8.1% during the second quarter. Neuberger Berman Group LLC now owns 17,109 shares of the oil and gas company’s stock worth $178,000 after buying an additional 1,289 shares in the last quarter.

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