Superior Energy Services (NYSE:SPN) Raised to Hold at ValuEngine

ValuEngine upgraded shares of Superior Energy Services (NYSE:SPN) from a sell rating to a hold rating in a report released on Thursday, ValuEngine reports.

Several other research analysts have also recently commented on SPN. Wolfe Research upgraded shares of Superior Energy Services from an underperform rating to an outperform rating and set a $4.00 target price for the company in a research report on Tuesday, June 4th. Citigroup set a $1.00 target price on shares of Superior Energy Services and gave the stock a buy rating in a research report on Friday, July 26th. Gabelli cut shares of Superior Energy Services from a buy rating to a hold rating and set a $8.00 target price for the company. in a research report on Thursday, April 25th. Susquehanna Bancshares cut shares of Superior Energy Services from a positive rating to a neutral rating and decreased their target price for the stock from $7.00 to $1.50 in a research report on Wednesday, July 10th. Finally, Bank of America restated an underperform rating and issued a $1.25 target price (down previously from $4.50) on shares of Superior Energy Services in a research report on Tuesday, June 25th. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $5.53.

SPN traded up $0.15 on Thursday, hitting $0.69. 244,042 shares of the company’s stock were exchanged, compared to its average volume of 3,352,594. The firm has a market capitalization of $84.96 million, a price-to-earnings ratio of -0.77 and a beta of 2.30. Superior Energy Services has a twelve month low of $0.54 and a twelve month high of $11.14. The company’s fifty day simple moving average is $1.13. The company has a current ratio of 2.48, a quick ratio of 2.07 and a debt-to-equity ratio of 7.56.

Superior Energy Services (NYSE:SPN) last released its quarterly earnings data on Tuesday, July 23rd. The oil and gas company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.06). The business had revenue of $436.32 million for the quarter, compared to analyst estimates of $466.52 million. Superior Energy Services had a negative return on equity of 33.30% and a negative net margin of 44.19%. During the same quarter last year, the company earned ($0.16) EPS. On average, equities analysts expect that Superior Energy Services will post -0.97 EPS for the current fiscal year.

In other Superior Energy Services news, Director James M. Funk bought 50,000 shares of Superior Energy Services stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average cost of $0.83 per share, for a total transaction of $41,500.00. Following the completion of the acquisition, the director now owns 82,179 shares of the company’s stock, valued at approximately $68,208.57. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.02% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Advisory Services Network LLC raised its stake in shares of Superior Energy Services by 8,975.2% in the second quarter. Advisory Services Network LLC now owns 44,650 shares of the oil and gas company’s stock worth $58,000 after acquiring an additional 44,158 shares during the last quarter. Performa Ltd US LLC raised its stake in shares of Superior Energy Services by 1,767.6% in the second quarter. Performa Ltd US LLC now owns 63,500 shares of the oil and gas company’s stock worth $83,000 after acquiring an additional 60,100 shares during the last quarter. KBC Group NV bought a new position in shares of Superior Energy Services in the second quarter worth about $173,000. BNP Paribas Arbitrage SA raised its stake in shares of Superior Energy Services by 30.0% in the second quarter. BNP Paribas Arbitrage SA now owns 204,771 shares of the oil and gas company’s stock worth $266,000 after acquiring an additional 47,297 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Superior Energy Services by 34.4% in the second quarter. SG Americas Securities LLC now owns 153,446 shares of the oil and gas company’s stock worth $199,000 after acquiring an additional 39,287 shares during the last quarter. Hedge funds and other institutional investors own 97.69% of the company’s stock.

About Superior Energy Services

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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Analyst Recommendations for Superior Energy Services (NYSE:SPN)

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