Superior Energy Services, Inc. (NYSE:SPN) Given Hold Rating at Jefferies Group LLC

Jefferies Group LLC reissued their hold rating on shares of Superior Energy Services, Inc. (NYSE:SPN) in a research note issued to investors on Friday. The brokerage currently has a $14.00 price target on the oil and gas company’s stock.

SPN has been the topic of a number of other reports. Seaport Global Securities lowered shares of Superior Energy Services from a buy rating to a neutral rating and dropped their price target for the company from $13.00 to $10.00 in a research report on Wednesday, June 21st. Nomura set a $13.00 price target on shares of Superior Energy Services and gave the company a hold rating in a research report on Thursday, April 27th. Loop Capital reissued a buy rating on shares of Superior Energy Services in a research report on Monday, July 3rd. BMO Capital Markets dropped their price target on shares of Superior Energy Services from $16.00 to $15.00 and set a market perform rating on the stock in a research report on Tuesday, May 2nd. Finally, BidaskClub lowered shares of Superior Energy Services from a hold rating to a sell rating in a research report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $17.63.

Shares of Superior Energy Services (SPN) traded down 1.17% during midday trading on Friday, hitting $10.95. 3,533,627 shares of the stock were exchanged. Superior Energy Services has a 1-year low of $8.99 and a 1-year high of $19.39. The stock’s market capitalization is $1.67 billion. The firm’s 50 day moving average is $10.69 and its 200-day moving average is $14.36.

Superior Energy Services (NYSE:SPN) last issued its quarterly earnings data on Tuesday, April 25th. The oil and gas company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.02. The firm had revenue of $400.94 million during the quarter, compared to analysts’ expectations of $388.26 million. Superior Energy Services had a negative net margin of 62.02% and a negative return on equity of 27.75%. The business’s revenue was down 3.0% on a year-over-year basis. During the same period last year, the company earned ($0.49) earnings per share. On average, analysts predict that Superior Energy Services will post ($1.70) EPS for the current year.

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In other Superior Energy Services news, insider David D. Dunlap purchased 45,000 shares of the stock in a transaction dated Friday, April 28th. The shares were bought at an average price of $12.26 per share, with a total value of $551,700.00. Following the completion of the transaction, the insider now directly owns 530,657 shares in the company, valued at approximately $6,505,854.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.91% of the company’s stock.

Several hedge funds have recently bought and sold shares of SPN. BlackRock Inc. raised its stake in Superior Energy Services by 10,301.4% in the first quarter. BlackRock Inc. now owns 23,424,814 shares of the oil and gas company’s stock valued at $334,036,000 after buying an additional 23,199,606 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new stake in Superior Energy Services during the first quarter valued at about $18,987,000. Anchor Capital Advisors LLC acquired a new stake in Superior Energy Services during the first quarter valued at about $16,380,000. Norges Bank acquired a new stake in Superior Energy Services during the fourth quarter valued at about $18,930,000. Finally, GMT Capital Corp raised its stake in Superior Energy Services by 380.1% in the first quarter. GMT Capital Corp now owns 1,400,530 shares of the oil and gas company’s stock valued at $19,972,000 after buying an additional 1,108,800 shares during the period.

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