Stephens started coverage on shares of Superior Energy Services (NYSE:SPN) in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The brokerage issued an equal weight rating and a $12.00 target price on the oil and gas company’s stock.
Several other brokerages also recently issued reports on SPN. Zacks Investment Research downgraded Superior Energy Services from a buy rating to a hold rating in a research report on Saturday, January 6th. UBS Group raised Superior Energy Services from a neutral rating to a positive rating in a research report on Friday, January 5th. Susquehanna Bancshares raised Superior Energy Services from a neutral rating to a positive rating and raised their price target for the company from $9.00 to $15.00 in a research report on Friday, January 5th. Jefferies Group set a $10.00 price target on Superior Energy Services and gave the company a hold rating in a research report on Thursday, January 4th. Finally, Piper Jaffray Companies reaffirmed a buy rating on shares of Superior Energy Services in a research report on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $12.72.
Superior Energy Services (NYSE SPN) traded up $0.26 during trading on Tuesday, reaching $11.31. 5,010,000 shares of the company’s stock traded hands, compared to its average volume of 3,344,217. Superior Energy Services has a 52-week low of $7.66 and a 52-week high of $18.87. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.64 and a current ratio of 1.99.
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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.01). The business had revenue of $506.00 million during the quarter, compared to analyst estimates of $511.23 million. Superior Energy Services had a negative net margin of 24.59% and a negative return on equity of 26.18%. The company’s revenue for the quarter was up 55.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.73) earnings per share. sell-side analysts predict 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.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPN. Schwab Charles Investment Management Inc. lifted its stake in shares of Superior Energy Services by 40.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 771,614 shares of the oil and gas company’s stock valued at $8,048,000 after buying an additional 221,799 shares during the period. Comerica Bank lifted its stake in shares of 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 buying an additional 992 shares during the period. Federated Investors Inc. PA lifted its stake in shares of Superior Energy Services by 4.9% in the second quarter. Federated Investors Inc. PA now owns 147,684 shares of the oil and gas company’s stock valued at $1,540,000 after buying an additional 6,862 shares during the period. Prudential Financial Inc. lifted its stake in Superior Energy Services by 8.8% during the second quarter. Prudential Financial Inc. now owns 102,653 shares of the oil and gas company’s stock worth $1,071,000 after purchasing an additional 8,321 shares during the period. Finally, Neuberger Berman Group LLC lifted its stake in Superior Energy Services by 8.1% during the second quarter. Neuberger Berman Group LLC now owns 17,109 shares of the oil and gas company’s stock worth $178,000 after purchasing an additional 1,289 shares during the period.
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About Superior Energy Services
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