BidaskClub lowered shares of Superior Energy Services, Inc. (NYSE:SPN) from a hold rating to a sell rating in a research report sent to investors on Wednesday.
Several other equities research analysts have also recently weighed in on SPN. Jefferies Group LLC restated a hold rating and set a $19.00 target price on shares of Superior Energy Services in a report on Wednesday, March 22nd. Tudor Pickering started coverage on Superior Energy Services in a report on Thursday, March 23rd. They set a hold rating for the company. Scotiabank set a $22.00 target price on Superior Energy Services and gave the company a buy rating in a report on Saturday, April 1st. Royal Bank Of Canada restated a hold rating and set a $20.00 target price on shares of Superior Energy Services in a report on Monday, April 3rd. Finally, BMO Capital Markets reiterated a market perform rating and issued a $16.00 price objective on shares of Superior Energy Services in a report on Wednesday, April 12th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the stock. Superior Energy Services has an average rating of Hold and an average price target of $17.63.
Shares of Superior Energy Services (NYSE SPN) opened at 10.95 on Wednesday. The company’s market capitalization is $1.67 billion. Superior Energy Services has a one year low of $8.99 and a one year high of $19.39. The firm has a 50-day moving average price of $10.69 and a 200-day moving average price of $14.36.
Superior Energy Services (NYSE:SPN) last issued its earnings results on Tuesday, April 25th. The oil and gas company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.02. The company had revenue of $400.94 million during the quarter, compared to analysts’ expectations of $388.26 million. Superior Energy Services had a negative return on equity of 27.75% and a negative net margin of 62.02%. Superior Energy Services’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.49) EPS. Equities analysts forecast that Superior Energy Services will post ($1.70) earnings per share for the current year.
In related news, insider David D. Dunlap acquired 45,000 shares of Superior Energy Services stock in a transaction that occurred on Friday, April 28th. The stock was bought at an average price of $12.26 per share, with a total value of $551,700.00. Following the transaction, the insider now directly owns 530,657 shares in the company, valued at $6,505,854.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.91% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position 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 worth $334,036,000 after buying an additional 23,199,606 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new position in Superior Energy Services during the first quarter worth $18,987,000. Anchor Capital Advisors LLC bought a new position in Superior Energy Services during the first quarter worth $16,380,000. Norges Bank bought a new position in Superior Energy Services during the fourth quarter worth $18,930,000. Finally, GMT Capital Corp raised its position 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 worth $19,972,000 after buying an additional 1,108,800 shares during the period.
About Superior Energy Services
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