Superior Energy Services (SPN) Downgraded by Cleveland Research to Neutral

Superior Energy Services (NYSE:SPN) was downgraded by equities research analysts at Cleveland Research from a “buy” rating to a “neutral” rating in a research note issued on Thursday, The Fly reports.

Other analysts have also issued reports about the company. Zacks Investment Research raised Superior Energy Services from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. Bank of America began coverage on Superior Energy Services in a research note on Wednesday. They issued a “neutral” rating on the stock. SunTrust Banks reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Superior Energy Services in a research note on Friday, July 27th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $10.00 price objective on shares of Superior Energy Services in a research note on Thursday, July 26th. Finally, Capital One Financial reaffirmed an “overweight” rating on shares of Superior Energy Services in a research note on Wednesday, July 25th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $12.18.

SPN opened at $9.63 on Thursday. The firm has a market cap of $1.51 billion, a PE ratio of -5.84 and a beta of 2.12. Superior Energy Services has a 52-week low of $7.66 and a 52-week high of $12.73. The company has a current ratio of 1.97, a quick ratio of 1.56 and a debt-to-equity ratio of 1.22.

Superior Energy Services (NYSE:SPN) last released its quarterly earnings data on Tuesday, July 24th. The oil and gas company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.06. The business had revenue of $553.55 million for the quarter, compared to analyst estimates of $532.07 million. Superior Energy Services had a negative return on equity of 16.43% and a negative net margin of 6.76%. Superior Energy Services’s revenue was up 17.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.41) earnings per share. Equities analysts forecast that Superior Energy Services will post -0.79 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the business. Senvest Management LLC bought a new stake in shares of Superior Energy Services during the second quarter valued at approximately $18,384,000. Dimensional Fund Advisors LP increased its holdings in shares of Superior Energy Services by 14.6% during the second quarter. Dimensional Fund Advisors LP now owns 12,933,972 shares of the oil and gas company’s stock valued at $125,977,000 after acquiring an additional 1,648,465 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Superior Energy Services by 128.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 2,430,284 shares of the oil and gas company’s stock valued at $23,671,000 after acquiring an additional 1,366,854 shares in the last quarter. Standard Life Aberdeen plc increased its holdings in shares of Superior Energy Services by 105.3% during the second quarter. Standard Life Aberdeen plc now owns 1,715,147 shares of the oil and gas company’s stock valued at $16,714,000 after acquiring an additional 879,681 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of Superior Energy Services by 25.3% during the second quarter. FMR LLC now owns 3,536,332 shares of the oil and gas company’s stock valued at $34,444,000 after acquiring an additional 713,410 shares in the last quarter.

Superior Energy Services Company Profile

Superior Energy Services, Inc provides oilfield services and equipment to oil and natural gas exploration and production companies in the United States, the Gulf of Mexico, and internationally. The company operates in four segments: Drilling Products and Services, Onshore Completion and Workover Services, Production Services, and Technical Solutions.

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