Superior Energy Services, Inc. (NYSE:SPN) – Jefferies Group cut their FY2019 EPS estimates for Superior Energy Services in a research report issued on Thursday, according to Zacks Investment Research. Jefferies Group analyst B. Handler now anticipates that the oil and gas company will post earnings of $0.10 per share for the year, down from their prior estimate of $0.15. Jefferies Group has a “Hold” rating and a $10.00 price target on the stock.
Superior Energy Services (NYSE:SPN) last announced its quarterly earnings data on Monday, October 23rd. The oil and gas company reported ($0.33) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.01). Superior Energy Services had a negative net margin of 24.59% and a negative return on equity of 26.18%. The company had revenue of $506.00 million during the quarter, compared to the consensus estimate of $511.23 million. During the same quarter in the previous year, the firm posted ($0.73) EPS. The business’s revenue for the quarter was up 55.1% compared to the same quarter last year.
SPN has been the subject of several other research reports. Deutsche Bank assumed coverage on Superior Energy Services in a research report on Tuesday, October 10th. They issued a “buy” rating and a $15.00 price objective for the company. Howard Weil downgraded Superior Energy Services from a “sector outperform” rating to a “sector perform” rating in a report on Friday. Zacks Investment Research upgraded Superior Energy Services from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a report on Tuesday, January 2nd. Susquehanna Bancshares upgraded Superior Energy Services from a “neutral” rating to a “positive” rating and upped their target price for the company from $9.00 to $15.00 in a report on Friday, January 5th. Finally, SunTrust Banks upgraded Superior Energy Services from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Monday, November 20th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $12.72.
Shares of Superior Energy Services (SPN) traded up $0.26 during mid-day trading on Friday, reaching $11.31. The company’s stock had a trading volume of 5,010,000 shares, compared to its average volume of 3,344,217. 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 12-month low of $7.66 and a 12-month high of $18.87.
In related news, Director Peter D. Kinnear bought 20,000 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were purchased at an average cost of $8.52 per share, with a total value of $170,400.00. Following the completion of the purchase, the director now owns 64,607 shares in the company, valued at approximately $550,451.64. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.91% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comerica Bank grew its stake in shares of Superior Energy Services by 0.8% in the second quarter. Comerica Bank now owns 130,803 shares of the oil and gas company’s stock worth $1,366,000 after acquiring an additional 992 shares during the last quarter. Neuberger Berman Group LLC grew its stake in shares of Superior Energy Services by 8.1% in the second quarter. Neuberger Berman Group LLC now owns 17,109 shares of the oil and gas company’s stock worth $178,000 after acquiring an additional 1,289 shares during the last quarter. Broadview Advisors LLC grew its stake in shares of Superior Energy Services by 0.6% in the second quarter. Broadview Advisors LLC now owns 266,924 shares of the oil and gas company’s stock worth $2,784,000 after acquiring an additional 1,700 shares during the last quarter. Thrivent Financial For Lutherans grew its stake in shares of Superior Energy Services by 8.7% in the second quarter. Thrivent Financial For Lutherans now owns 30,970 shares of the oil and gas company’s stock worth $323,000 after acquiring an additional 2,480 shares during the last quarter. Finally, AMG National Trust Bank lifted its holdings in shares of Superior Energy Services by 8.4% during the second quarter. AMG National Trust Bank now owns 46,195 shares of the oil and gas company’s stock valued at $482,000 after purchasing an additional 3,576 shares in the last quarter.
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