According to Zacks, “Superior Energy Services, Inc. serves the drilling, completion and production-related needs of oil and gas companies worldwide through a diversified portfolio of specialized oilfield services and equipment that are used throughout the economic life cycle of oil and gas wells. The world’s energy producers rely on them for the services, tools, equipment and exceptionally trained personnel needed to develop and produce oil and gas. Superior Energy has a history of developing specialized tools and technologies designed to meet customer needs. In its earliest days, the company pioneered the use of rigless plugging and abandonment services. Since then, Superior has been on the leading edge of a number of developments that benefit oil and gas producers throughout the life cycle of the well. “
Several other equities research analysts have also issued reports on SPN. Citigroup reaffirmed a buy rating and set a $25.00 target price on shares of Propetro in a research report on Tuesday, July 2nd. Bank of America reaffirmed an underperform rating and set a $1.25 target price (down from $4.50) on shares of Superior Energy Services in a research report on Tuesday, June 25th. JPMorgan Chase & Co. initiated coverage on INTL CONS AIRL/S in a research report on Tuesday, June 4th. They set an overweight rating for the company. Morgan Stanley set a $207.00 target price on Alibaba Group and gave the company a buy rating in a research report on Friday, July 12th. Finally, Susquehanna Bancshares decreased their target price on Helmerich & Payne from $72.00 to $62.00 in a research report on Wednesday, July 10th. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $6.26.
Superior Energy Services (NYSE:SPN) last announced its earnings results on Tuesday, April 23rd. The oil and gas company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.07). Superior Energy Services had a negative net margin of 40.00% and a negative return on equity of 19.11%. The business had revenue of $467.20 million for the quarter, compared to analysts’ expectations of $495.35 million. During the same period in the prior year, the business earned ($0.34) earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, research analysts anticipate that Superior Energy Services will post -0.88 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Superior Energy Services by 34.2% during the 4th quarter. BlackRock Inc. now owns 24,180,395 shares of the oil and gas company’s stock worth $81,002,000 after acquiring an additional 6,165,927 shares during the period. D. E. Shaw & Co. Inc. grew its stake in shares of Superior Energy Services by 156.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 3,313,766 shares of the oil and gas company’s stock worth $11,101,000 after acquiring an additional 2,022,800 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Superior Energy Services by 4.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,944,064 shares of the oil and gas company’s stock worth $6,513,000 after acquiring an additional 76,626 shares during the period. Geode Capital Management LLC grew its stake in shares of Superior Energy Services by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 1,595,329 shares of the oil and gas company’s stock worth $5,344,000 after acquiring an additional 70,168 shares during the period. Finally, Norges Bank bought a new position in Superior Energy Services in the 4th quarter worth about $4,970,000. Institutional investors own 98.84% of the company’s stock.
Superior Energy Services Company Profile
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.
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