Superior Energy Services, Inc. (NYSE:SPN) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totalling 27,869,741 shares, an increase of 20.2% from the June 15th total of 23,193,237 shares. Currently, 18.7% of the company’s shares are sold short. Based on an average trading volume of 5,823,021 shares, the short-interest ratio is currently 4.8 days.
SPN has been the subject of several research analyst reports. Tudor Pickering initiated coverage on Superior Energy Services in a research report on Thursday, March 23rd. They issued a “hold” rating for the company. Instinet reissued a “neutral” rating and issued a $13.00 price objective (down from $15.00) on shares of Superior Energy Services in a research report on Saturday, April 29th. BidaskClub raised Superior Energy Services from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Deutsche Bank AG lowered their price objective on Superior Energy Services from $26.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, April 28th. Finally, Barclays PLC reissued a “buy” rating and issued a $18.00 price objective on shares of Superior Energy Services in a research report on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company. Superior Energy Services presently has an average rating of “Hold” and an average price target of $17.63.
Superior Energy Services (NYSE:SPN) opened at 10.95 on Tuesday. The stock has a 50 day moving average price of $10.69 and a 200-day moving average price of $14.36. The stock’s market cap is $1.67 billion. Superior Energy Services has a 52 week low of $8.99 and a 52 week high of $19.39.
Superior Energy Services (NYSE:SPN) last posted its quarterly earnings results on Tuesday, April 25th. The oil and gas company reported ($0.59) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.61) by $0.02. Superior Energy Services had a negative net margin of 62.02% and a negative return on equity of 27.75%. The firm had revenue of $400.94 million for the quarter, compared to analysts’ expectations of $388.26 million. During the same quarter in the prior year, the company posted ($0.49) earnings per share. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, equities analysts anticipate that Superior Energy Services will post ($1.70) EPS for the current fiscal year.
In other Superior Energy Services news, insider David D. Dunlap acquired 45,000 shares of the stock in a transaction dated Friday, April 28th. The stock was purchased at an average cost of $12.26 per share, with a total value of $551,700.00. Following the transaction, the insider now owns 530,657 shares in the company, valued at approximately $6,505,854.82. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.91% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Independent Portfolio Consultants Inc. purchased a new stake in Superior Energy Services during the first quarter worth approximately $105,000. Flinton Capital Management LLC boosted its stake in Superior Energy Services by 9.1% in the first quarter. Flinton Capital Management LLC now owns 8,708 shares of the oil and gas company’s stock worth $124,000 after buying an additional 728 shares during the last quarter. Washington Trust Bank boosted its stake in Superior Energy Services by 17.7% in the first quarter. Washington Trust Bank now owns 9,810 shares of the oil and gas company’s stock worth $140,000 after buying an additional 1,478 shares during the last quarter. Neuburgh Advisers LLC boosted its stake in Superior Energy Services by 9.1% in the first quarter. Neuburgh Advisers LLC now owns 10,574 shares of the oil and gas company’s stock worth $151,000 after buying an additional 884 shares during the last quarter. Finally, Endurance Wealth Management Inc. boosted its stake in Superior Energy Services by 1.0% in the first quarter. Endurance Wealth Management Inc. now owns 11,026 shares of the oil and gas company’s stock worth $158,000 after buying an additional 112 shares during the last quarter.
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Superior Energy Services Company Profile
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