Zacks Investment Research cut shares of Superior Energy Services (NYSE:SPN) from a buy rating to a hold rating in a report published on Saturday, January 6th.
According to Zacks, “Superior Energy Services, Inc. serves the drilling, completion and production-related needs of oil and gas companies worldwide through a diversified portfolio of specialized oilfield services and equipment that are used throughout the economic life cycle of oil and gas wells. The world’s energy producers rely on us for the services, tools, equipment and exceptionally trained personnel needed to develop and produce oil and gas. Superior Energy has a history of developing specialized tools and technologies designed to meet customer needs. In its earliest days, the company pioneered the use of rigless plugging and abandonment services. Since then, Superior has been on the leading edge of a number of developments that benefit oil and gas producers throughout the life cycle of the well. “
SPN has been the topic of a number of other research reports. Wells Fargo & Co downgraded Superior Energy Services from an outperform rating to a market perform rating in a research note on Monday, October 16th. Piper Jaffray Companies restated a buy rating on shares of Superior Energy Services in a research note on Tuesday, September 26th. Cowen set a $14.00 target price on Superior Energy Services and gave the company a buy rating in a research note on Friday, October 6th. Jefferies Group reiterated a hold rating and set a $11.00 price target on shares of Superior Energy Services in a research note on Monday, October 16th. Finally, Barclays set a $10.00 price target on Superior Energy Services and gave the stock a hold rating in a research note on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $12.78.
Superior Energy Services (NYSE:SPN) traded down $0.13 during trading hours on Friday, reaching $10.45. The company had a trading volume of 2,592,126 shares, compared to its average volume of 3,982,873. The firm has a market capitalization of $1,639.52, a price-to-earnings ratio of -3.72 and a beta of 2.16. Superior Energy Services has a 52-week low of $7.66 and a 52-week high of $18.81. The company has a quick ratio of 1.64, a current ratio of 1.99 and a debt-to-equity ratio of 1.15.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Superior Energy Services by 2.8% during 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 purchasing an additional 353,628 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in 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 valued at $86,287,000 after acquiring an additional 2,095,988 shares in the last quarter. Van ECK Associates Corp raised its holdings in 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 valued at $80,923,000 after acquiring an additional 89,538 shares in the last quarter. State Street Corp raised its holdings in 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 valued at $61,185,000 after acquiring an additional 1,335,740 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in 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 valued at $56,470,000 after acquiring an additional 682,774 shares in the last quarter.
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About Superior Energy Services
Superior Energy Services, Inc provides a range of services and products to the energy industry related to the exploration, development and production of oil and natural gas. The Company’s segments include Drilling Products and Services, which rents and sells bottom hole assemblies, drill pipe, tubulars and specialized equipment for use with onshore and offshore oil and gas well drilling, production and workover activities; Onshore Completion and Workover Services, which provides pressure pumping services used to complete and stimulate production in new oil and gas wells, fluid handling services and well servicing rigs that provide a range of well completion and maintenance services; Production Services, which provides intervention services, such as coiled tubing, cased hole and mechanical wireline, hydraulic workover and snubbing, and remedial pumping services, and Technical Solutions, which provides services requiring specialized engineering, manufacturing or project planning.
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