Superior Energy Services (SPN) Price Target Raised to $12.00 at Credit Suisse Group

Superior Energy Services (NYSE:SPN) had its target price increased by Credit Suisse Group from $11.00 to $12.00 in a research report released on Wednesday. The firm currently has an outperform rating on the oil and gas company’s stock.

Other research analysts have also issued reports about the company. Zacks Investment Research raised Superior Energy Services from a hold rating to a buy rating and set a $11.00 target price on the stock in a research report on Tuesday, January 2nd. SunTrust Banks raised Superior Energy Services from a hold rating to a buy rating and set a $20.00 target price on the stock in a research report on Monday, November 20th. Scotiabank reaffirmed a buy rating on shares of Superior Energy Services in a research report on Friday, October 27th. Deutsche Bank reduced their target price on Superior Energy Services from $15.00 to $10.00 and set a buy rating on the stock in a research report on Wednesday, October 25th. Finally, Loop Capital set a $13.00 price objective on 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. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $12.85.

Superior Energy Services (NYSE SPN) opened at $9.31 on Wednesday. Superior Energy Services has a 1 year low of $7.66 and a 1 year high of $17.60. 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 announced its earnings results on Monday, February 19th. 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). Superior Energy Services had a negative net margin of 10.99% and a negative return on equity of 21.78%. The business had revenue of $497.00 million for the quarter, compared to analyst estimates of $509.27 million. During the same period in the prior year, the company earned ($0.74) earnings per share. The company’s quarterly revenue was up 40.2% on a year-over-year basis. equities research analysts anticipate that Superior Energy Services will post -0.81 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of SPN. Parametric Portfolio Associates LLC boosted its stake in shares of Superior Energy Services by 31.9% in the second quarter. Parametric Portfolio Associates LLC now owns 432,839 shares of the oil and gas company’s stock worth $4,515,000 after buying an additional 104,741 shares during the last quarter. Voya Investment Management LLC boosted its stake in shares of Superior Energy Services by 48.9% in the second quarter. Voya Investment Management LLC now owns 68,375 shares of the oil and gas company’s stock worth $713,000 after buying an additional 22,455 shares during the last quarter. State Street Corp boosted its stake 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 buying an additional 1,335,740 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Superior Energy Services by 53.9% during the second quarter. The Manufacturers Life Insurance Company now owns 339,603 shares of the oil and gas company’s stock worth $3,543,000 after purchasing an additional 118,972 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Superior Energy Services by 21.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 25,878 shares of the oil and gas company’s stock worth $270,000 after purchasing an additional 4,598 shares in the last quarter. Hedge funds and other institutional investors own 98.98% of the company’s stock.

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Superior Energy Services Company Profile

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.

Analyst Recommendations for Superior Energy Services (NYSE:SPN)

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