Superior Energy Services (SPN) Shares Down 7.3%

Superior Energy Services, Inc. (NYSE:SPN) fell 7.3% during mid-day trading on Friday . The stock traded as low as $5.38 and last traded at $5.45. 4,595,723 shares were traded during trading, an increase of 37% from the average session volume of 3,348,469 shares. The stock had previously closed at $5.88.

Several brokerages have recently issued reports on SPN. ValuEngine downgraded shares of Superior Energy Services from a “hold” rating to a “sell” rating in a research report on Wednesday, November 21st. Seaport Global Securities set a $11.00 price objective on shares of Superior Energy Services and gave the stock a “buy” rating in a research report on Wednesday, October 24th. BMO Capital Markets lowered their price objective on shares of Superior Energy Services from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Wednesday, October 24th. Piper Jaffray Companies set a $9.00 price objective on shares of Superior Energy Services and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. Finally, Barclays set a $10.00 price objective on shares of Superior Energy Services and gave the stock a “hold” rating in a research report on Wednesday, October 24th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $11.76.

The company has a current ratio of 2.03, a quick ratio of 1.65 and a debt-to-equity ratio of 1.24.

Superior Energy Services (NYSE:SPN) last announced its quarterly earnings data on Monday, October 22nd. The oil and gas company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). Superior Energy Services had a negative net margin of 4.76% and a negative return on equity of 14.06%. The firm had revenue of $573.07 million during the quarter, compared to the consensus estimate of $563.47 million. During the same period last year, the business earned ($0.33) EPS. The business’s revenue was up 13.2% on a year-over-year basis. On average, equities research analysts expect that Superior Energy Services, Inc. will post -0.9 earnings per share for the current fiscal year.

In other news, Director James M. Funk acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, November 1st. The stock was bought at an average price of $7.98 per share, with a total value of $39,900.00. Following the transaction, the director now directly owns 16,961 shares in the company, valued at approximately $135,348.78. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Westervelt T. Ballard, Jr. acquired 4,000 shares of the firm’s stock in a transaction dated Wednesday, October 24th. The stock was purchased at an average cost of $7.68 per share, with a total value of $30,720.00. Following the transaction, the chief financial officer now owns 88,004 shares in the company, valued at $675,870.72. The disclosure for this purchase can be found here. Company insiders own 3.81% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in SPN. Prudential Financial Inc. lifted its stake in shares of Superior Energy Services by 59.3% during the 3rd quarter. Prudential Financial Inc. now owns 5,937,629 shares of the oil and gas company’s stock worth $57,832,000 after buying an additional 2,210,112 shares during the last quarter. Senvest Management LLC acquired a new stake in shares of Superior Energy Services during the 2nd quarter worth about $18,384,000. Dimensional Fund Advisors LP lifted its stake in shares of Superior Energy Services by 14.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,933,972 shares of the oil and gas company’s stock worth $125,977,000 after buying an additional 1,648,465 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Superior Energy Services during the 3rd quarter worth about $14,728,000. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of Superior Energy Services by 128.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,430,284 shares of the oil and gas company’s stock worth $23,671,000 after buying an additional 1,366,854 shares during the last quarter.

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About Superior Energy Services (NYSE:SPN)

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.

Further Reading: Dollar Cost Averaging

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