Jefferies Financial Group downgraded shares of Superior Energy Services (NYSE:SPN) from a hold rating to an underperform rating in a report published on Thursday, MarketBeat Ratings reports. They currently have $3.00 price target on the oil and gas company’s stock, down from their previous price target of $4.50.
A number of other equities analysts have also recently issued reports on SPN. JPMorgan Chase & Co. lowered their target price on Superior Energy Services from $12.00 to $10.00 and set a neutral rating for the company in a report on Monday, September 17th. Royal Bank of Canada set a $15.00 target price on Superior Energy Services and gave the stock a hold rating in a report on Thursday, September 20th. ValuEngine raised Superior Energy Services from a sell rating to a hold rating in a report on Tuesday, October 2nd. Wolfe Research started coverage on Superior Energy Services in a report on Wednesday, October 10th. They issued an underperform rating for the company. Finally, Bank of America started coverage on Superior Energy Services in a report on Wednesday, October 17th. They issued a neutral rating for the company. Seven research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The company has an average rating of Hold and a consensus price target of $8.90.
Superior Energy Services stock opened at $4.01 on Thursday. Superior Energy Services has a 52 week low of $2.87 and a 52 week high of $12.73. The company has a quick ratio of 1.65, a current ratio of 2.03 and a debt-to-equity ratio of 1.24. The firm has a market cap of $662.93 million, a PE ratio of -2.43 and a beta of 2.38.
Superior Energy Services (NYSE:SPN) last issued its earnings results on Monday, October 22nd. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). Superior Energy Services had a negative return on equity of 14.06% and a negative net margin of 4.76%. The firm had revenue of $573.07 million during the quarter, compared to analyst estimates of $563.47 million. During the same period in the previous year, the company earned ($0.33) EPS. Superior Energy Services’s revenue for the quarter was up 13.2% on a year-over-year basis. As a group, research analysts forecast that Superior Energy Services will post -0.92 EPS for the current year.
In related news, CFO Westervelt T. Ballard, Jr. purchased 4,000 shares of Superior Energy Services stock in a transaction on Wednesday, October 24th. The shares were purchased at an average price of $7.68 per share, for a total transaction of $30,720.00. Following the transaction, the chief financial officer now owns 88,004 shares of the company’s stock, valued at approximately $675,870.72. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Brian K. Moore purchased 70,000 shares of Superior Energy Services stock in a transaction on Thursday, December 13th. The stock was bought at an average price of $4.01 per share, for a total transaction of $280,700.00. Following the transaction, the insider now directly owns 398,074 shares in the company, valued at approximately $1,596,276.74. The disclosure for this purchase can be found here. Insiders acquired a total of 139,000 shares of company stock worth $596,420 in the last quarter. Corporate insiders own 3.81% of the company’s stock.
Several institutional investors have recently made changes to their positions in SPN. First Trust Advisors LP bought a new stake in shares of Superior Energy Services during the 2nd quarter valued at about $1,668,000. GSA Capital Partners LLP boosted its position in shares of Superior Energy Services by 51.6% during the 2nd quarter. GSA Capital Partners LLP now owns 60,248 shares of the oil and gas company’s stock valued at $587,000 after purchasing an additional 20,499 shares in the last quarter. BlackRock Inc. boosted its position in shares of Superior Energy Services by 2.6% during the 2nd quarter. BlackRock Inc. now owns 17,907,503 shares of the oil and gas company’s stock valued at $174,419,000 after purchasing an additional 461,372 shares in the last quarter. FMR LLC boosted its position in shares of Superior Energy Services by 25.3% during the 2nd quarter. FMR LLC now owns 3,536,332 shares of the oil and gas company’s stock valued at $34,444,000 after purchasing an additional 713,410 shares in the last quarter. Finally, NumerixS Investment Technologies Inc bought a new stake in shares of Superior Energy Services during the 2nd quarter valued at about $109,000.
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.
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