Superior Energy Services (SPN) PT Set at $10.00 by Royal Bank of Canada

Superior Energy Services (NYSE:SPN) received a $10.00 target price from Royal Bank of Canada in a note issued to investors on Thursday. The firm currently has a “hold” rating on the oil and gas company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 4.82% from the stock’s current price.

A number of other equities analysts have also recently weighed in on SPN. ValuEngine cut Superior Energy Services from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Piper Jaffray Companies reiterated a “buy” rating on shares of Superior Energy Services in a research note on Tuesday, September 26th. Jefferies Group set a $13.00 target price on Superior Energy Services and gave the company a “hold” rating in a research note on Thursday, October 5th. Cowen set a $14.00 target price on Superior Energy Services and gave the company a “buy” rating in a research note on Friday, October 6th. Finally, Deutsche Bank started coverage on Superior Energy Services in a research note on Tuesday, October 10th. They set a “buy” rating and a $15.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.88.

Shares of Superior Energy Services (NYSE:SPN) opened at $9.54 on Thursday. The company has a current ratio of 1.99, a quick ratio of 1.64 and a debt-to-equity ratio of 1.15. Superior Energy Services has a fifty-two week low of $7.66 and a fifty-two week high of $19.08. The stock has a market capitalization of $1,393.06, a PE ratio of -3.40 and a beta of 2.16.

Superior Energy Services (NYSE:SPN) last issued its earnings results on Monday, October 23rd. The oil and gas company reported ($0.33) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.01). Superior Energy Services had a negative return on equity of 26.18% and a negative net margin of 24.59%. The firm had revenue of $506.00 million for the quarter, compared to analysts’ expectations of $511.23 million. During the same quarter in the previous year, the firm posted ($0.73) EPS. The firm’s revenue for the quarter was up 55.1% compared to the same quarter last year. research analysts expect that Superior Energy Services will post -1.64 earnings per share for the current fiscal year.

In related news, Director Peter D. Kinnear bought 20,000 shares of the company’s stock in a transaction on Monday, October 30th. The shares were purchased at an average cost of $8.52 per share, with a total value of $170,400.00. Following the completion of the transaction, the director now directly owns 64,607 shares of the company’s stock, valued at $550,451.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.91% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Superior Energy Services by 221.9% during the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 4,285,600 shares of the oil and gas company’s stock worth $44,699,000 after purchasing an additional 2,954,100 shares in the last quarter. Balyasny Asset Management LLC raised its holdings in Superior Energy Services by 535.0% during the second quarter. Balyasny Asset Management LLC now owns 3,008,663 shares of the oil and gas company’s stock worth $31,380,000 after acquiring an additional 2,534,833 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Superior Energy Services by 33.9% during the second quarter. Dimensional Fund Advisors LP now owns 8,272,972 shares of the oil and gas company’s stock worth $86,287,000 after acquiring an additional 2,095,988 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Superior Energy Services by 43.6% during the third quarter. Bank of New York Mellon Corp now owns 4,731,504 shares of the oil and gas company’s stock worth $50,530,000 after acquiring an additional 1,437,552 shares in the last quarter. Finally, GMT Capital Corp raised its holdings in Superior Energy Services by 96.9% during the second quarter. GMT Capital Corp now owns 2,757,830 shares of the oil and gas company’s stock worth $27,358,000 after acquiring an additional 1,357,300 shares in the last quarter.

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Superior Energy Services Company Profile

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