Superior Energy Services (SPN) Given a $14.00 Price Target at Cowen

Cowen set a $14.00 target price on Superior Energy Services (NYSE:SPN) in a report released on Thursday morning. The firm currently has a buy rating on the oil and gas company’s stock.

SPN has been the topic of several other reports. Royal Bank of Canada set a $10.00 target price on shares of Superior Energy Services and gave the stock a hold rating in a research note on Thursday, December 21st. ValuEngine downgraded shares of Superior Energy Services from a sell rating to a strong sell rating in a research note on Sunday, December 31st. Jefferies Group set a $13.00 target price on shares of Superior Energy Services and gave the stock a hold rating in a research note on Thursday, October 5th. Deutsche Bank initiated coverage on shares of Superior Energy Services in a research note on Tuesday, October 10th. They issued a buy rating and a $15.00 target price on the stock. Finally, Scotiabank reaffirmed a buy rating on shares of Superior Energy Services in a research note on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $12.72.

Shares of Superior Energy Services (NYSE:SPN) traded up $0.26 on Thursday, hitting $11.31. 5,007,867 shares of the stock were exchanged, compared to its average volume of 4,231,378. The company has a market cap of $1,731.37, a price-to-earnings ratio of -4.02 and a beta of 2.16. The company has a current ratio of 1.99, a quick ratio of 1.64 and a debt-to-equity ratio of 1.15. Superior Energy Services has a 1 year low of $7.66 and a 1 year high of $18.81.

Superior Energy Services (NYSE:SPN) last issued its earnings results on Monday, October 23rd. The oil and gas company reported ($0.33) EPS for the quarter, missing the 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 firm had revenue of $506.00 million during the quarter, compared to analysts’ expectations of $511.23 million. During the same period in the previous year, the firm earned ($0.73) earnings per share. The firm’s quarterly revenue was up 55.1% compared to the same quarter last year. equities research analysts forecast that Superior Energy Services will post -1.64 EPS for the current year.

In other Superior Energy Services news, Director Peter D. Kinnear bought 20,000 shares of Superior Energy Services 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 transaction, the director now directly owns 64,607 shares of the company’s stock, valued at $550,451.64. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.49% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Superior Energy Services by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 12,918,988 shares of the oil and gas company’s stock worth $134,745,000 after buying an additional 353,628 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Superior Energy Services by 33.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,272,972 shares of the oil and gas company’s stock worth $86,287,000 after buying an additional 2,095,988 shares during the period. Van ECK Associates Corp grew its position in shares of Superior Energy Services by 1.2% in the 3rd quarter. Van ECK Associates Corp now owns 7,577,016 shares of the oil and gas company’s stock worth $80,923,000 after buying an additional 89,538 shares during the period. State Street Corp grew its position in shares of Superior Energy Services by 29.5% in the 2nd quarter. State Street Corp now owns 5,866,537 shares of the oil and gas company’s stock worth $61,185,000 after buying an additional 1,335,740 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Superior Energy Services by 14.4% in the 2nd quarter. Franklin Resources Inc. now owns 5,414,205 shares of the oil and gas company’s stock worth $56,470,000 after buying an additional 682,774 shares during the period.

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