Superior Energy Services Target of Unusually Large Options Trading (SPN)

Superior Energy Services, Inc. (NYSE:SPN) was the target of some unusual options trading activity on Wednesday. Stock traders acquired 989 call options on the stock. This represents an increase of approximately 1,495% compared to the typical volume of 62 call options.

Superior Energy Services (NYSE:SPN) opened at $9.54 on Monday. Superior Energy Services has a 52 week low of $7.66 and a 52 week high of $19.08. The stock has a market capitalization of $1,440.00, a PE ratio of -3.88 and a beta of 2.16. The company has a quick ratio of 1.64, a current ratio of 1.99 and a debt-to-equity ratio of 1.15.

Superior Energy Services (NYSE:SPN) last issued its quarterly earnings results on Monday, October 23rd. The oil and gas company reported ($0.33) earnings per share 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 business 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. Superior Energy Services’s revenue was up 55.1% on a year-over-year basis. equities research analysts expect that Superior Energy Services will post -1.64 EPS for the current fiscal year.

In related news, Director Peter D. Kinnear bought 20,000 shares of Superior Energy Services stock in a transaction that occurred on Monday, October 30th. The stock was acquired at an average price of $8.52 per share, for a total transaction of $170,400.00. Following the completion of the purchase, the director now owns 64,607 shares in the company, valued at $550,451.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.91% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. World Asset Management Inc lifted its holdings in Superior Energy Services by 0.3% in the second quarter. World Asset Management Inc now owns 11,665 shares of the oil and gas company’s stock valued at $122,000 after acquiring an additional 34 shares during the period. Teacher Retirement System of Texas lifted its holdings in Superior Energy Services by 3.7% in the second quarter. Teacher Retirement System of Texas now owns 12,602 shares of the oil and gas company’s stock valued at $131,000 after acquiring an additional 447 shares during the period. Arizona State Retirement System lifted its holdings in Superior Energy Services by 1.3% in the second quarter. Arizona State Retirement System now owns 64,400 shares of the oil and gas company’s stock valued at $672,000 after acquiring an additional 800 shares during the period. Comerica Bank lifted its holdings in Superior Energy Services by 0.8% in the second quarter. Comerica Bank now owns 130,803 shares of the oil and gas company’s stock valued at $1,366,000 after acquiring an additional 992 shares during the period. Finally, Neuberger Berman Group LLC lifted its holdings in Superior Energy Services by 8.1% in the second quarter. Neuberger Berman Group LLC now owns 17,109 shares of the oil and gas company’s stock valued at $178,000 after acquiring an additional 1,289 shares during the period.

A number of brokerages have commented on SPN. Wells Fargo & Co cut shares of Superior Energy Services from an “outperform” rating to a “market perform” rating in a research note on Monday, October 16th. Piper Jaffray Companies restated a “buy” rating on shares of Superior Energy Services in a research note on Tuesday, September 26th. Cowen set a $14.00 price target on shares of Superior Energy Services and gave the stock a “buy” rating in a research note on Friday, October 6th. Jefferies Group restated a “hold” rating and set a $11.00 price target on shares of Superior Energy Services in a research note on Monday, October 16th. Finally, Barclays set a $10.00 price target on shares of Superior Energy Services and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Superior Energy Services has an average rating of “Hold” and a consensus target price of $12.88.

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Superior Energy Services Company Profile

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