Superior Energy Services (SPN) Given Average Recommendation of “Hold” by Brokerages

Superior Energy Services (NYSE:SPN) has been assigned an average rating of “Hold” from the twenty-six ratings firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $13.02.

A number of research analysts recently weighed in on SPN shares. Royal Bank of Canada set a $11.00 target price on Superior Energy Services and gave the stock a “hold” rating in a report on Saturday, February 17th. Raymond James boosted their target price on Superior Energy Services from $15.00 to $19.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 26th. Credit Suisse Group boosted their target price on Superior Energy Services from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, February 21st. Jefferies Group reissued a “hold” rating and set a $11.00 target price on shares of Superior Energy Services in a report on Thursday, April 26th. Finally, ValuEngine raised Superior Energy Services from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 9th.

Shares of Superior Energy Services traded up $0.65, reaching $12.47, on Thursday, MarketBeat reports. 3,431,300 shares of the company were exchanged, compared to its average volume of 3,476,126. Superior Energy Services has a one year low of $11.58 and a one year high of $11.87. The stock has a market cap of $1.79 billion, a P/E ratio of -7.56 and a beta of 2.05. The company has a quick ratio of 1.48, a current ratio of 1.86 and a debt-to-equity ratio of 1.19.

Superior Energy Services (NYSE:SPN) last announced its quarterly earnings data on Tuesday, April 24th. The oil and gas company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. The company had revenue of $482.32 million for the quarter, compared to analysts’ expectations of $494.41 million. Superior Energy Services had a negative return on equity of 19.29% and a negative net margin of 8.90%. The business’s revenue was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.59) EPS. sell-side analysts expect that Superior Energy Services will post -0.75 EPS for the current year.

In other news, CEO David D. Dunlap acquired 30,000 shares of the firm’s stock in a transaction on Thursday, April 26th. The shares were purchased at an average cost of $10.89 per share, with a total value of $326,700.00. Following the acquisition, the chief executive officer now directly owns 660,414 shares in the company, valued at approximately $7,191,908.46. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.81% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of SPN. Boston Partners acquired a new position in Superior Energy Services in the 1st quarter valued at $89,796,000. Millennium Management LLC grew its holdings in shares of Superior Energy Services by 477.2% during the 4th quarter. Millennium Management LLC now owns 5,373,514 shares of the oil and gas company’s stock worth $51,747,000 after purchasing an additional 4,442,479 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Superior Energy Services by 38.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,285,507 shares of the oil and gas company’s stock worth $95,137,000 after purchasing an additional 3,118,109 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of Superior Energy Services during the 4th quarter worth $15,582,000. Finally, Neuberger Berman Group LLC acquired a new stake in shares of Superior Energy Services during the 1st quarter worth $11,656,000.

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.

Analyst Recommendations for Superior Energy Services (NYSE:SPN)

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