Superior Energy Services (SPN) Rating Increased to Positive at UBS Group

Superior Energy Services (NYSE:SPN) was upgraded by investment analysts at UBS Group from a “neutral” rating to a “positive” rating in a research report issued to clients and investors on Friday, January 5th, The Fly reports.

A number of other brokerages have also commented on SPN. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Superior Energy Services in a research report on Tuesday, September 26th. Jefferies Group set a $13.00 target price on shares of Superior Energy Services and gave the stock a “hold” rating in a research report on Thursday, October 5th. Cowen set a $14.00 target price on shares of Superior Energy Services and gave the stock a “buy” rating in a research report on Friday, October 6th. Royal Bank of Canada set a $14.00 target price on shares of Superior Energy Services and gave the stock a “hold” rating in a research report on Saturday, October 7th. Finally, Deutsche Bank began coverage on shares of Superior Energy Services in a report on Tuesday, October 10th. They set a “buy” rating and a $15.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company. Superior Energy Services 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 during trading hours on Friday, hitting $11.31. 5,007,800 shares of the company were exchanged, compared to its average volume of 4,231,378. 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. The company has a market cap of $1,730.00, a P/E ratio of -4.60 and a beta of 2.16.

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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.01). The firm had revenue of $506.00 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 55.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.73) EPS. equities research analysts predict that Superior Energy Services will post -1.64 earnings per share for the current fiscal year.

In other Superior Energy Services news, Director Peter D. Kinnear bought 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was bought at an average cost of $8.52 per share, for a total transaction of $170,400.00. Following the completion of the transaction, the director now directly owns 64,607 shares of the company’s stock, valued at approximately $550,451.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.49% of the company’s stock.

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

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Superior Energy Services Company Profile

The Fly

Analyst Recommendations for Superior Energy Services (NYSE:SPN)

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