Superior Energy Services, Inc. (NYSE:SPN) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Superior Energy Services, Inc. (NYSE:SPN) have received a consensus recommendation of “Hold” from the twenty-four brokerages that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $5.26.

Several analysts have recently commented on SPN shares. Piper Jaffray Companies lowered Superior Energy Services from an “overweight” rating to a “neutral” rating and set a $1.00 price objective for the company. in a report on Friday, July 26th. Barclays lowered Superior Energy Services from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $5.00 to $2.00 in a report on Monday, May 20th. Morgan Stanley decreased their price objective on Superior Energy Services from $5.00 to $3.00 and set an “underweight” rating for the company in a report on Friday, July 12th. Wolfe Research upgraded Superior Energy Services from an “underperform” rating to an “outperform” rating and set a $4.00 price objective for the company in a report on Tuesday, June 4th. Finally, Citigroup set a $1.00 price objective on Superior Energy Services and gave the company a “buy” rating in a report on Friday, July 26th.

Shares of SPN traded down $0.02 during midday trading on Friday, hitting $0.64. 4,162,619 shares of the company’s stock traded hands, compared to its average volume of 3,919,831. Superior Energy Services has a 1 year low of $0.54 and a 1 year high of $11.14. The company’s fifty day moving average is $1.01. The company has a quick ratio of 2.07, a current ratio of 2.48 and a debt-to-equity ratio of 7.56. The firm has a market cap of $102.68 million, a PE ratio of -0.71 and a beta of 2.29.

Superior Energy Services (NYSE:SPN) last issued its quarterly earnings data on Tuesday, July 23rd. The oil and gas company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.06). Superior Energy Services had a negative net margin of 44.19% and a negative return on equity of 33.30%. The business had revenue of $436.32 million for the quarter, compared to analysts’ expectations of $466.52 million. During the same quarter in the prior year, the company posted ($0.16) EPS. As a group, research analysts expect that Superior Energy Services will post -0.97 EPS for the current fiscal year.

In related news, Director James M. Funk acquired 50,000 shares of Superior Energy Services stock in a transaction on Friday, July 26th. The stock was acquired at an average price of $0.83 per share, for a total transaction of $41,500.00. Following the purchase, the director now owns 82,179 shares of the company’s stock, valued at approximately $68,208.57. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.02% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MML Investors Services LLC raised its stake in shares of Superior Energy Services by 196.9% during the 1st quarter. MML Investors Services LLC now owns 246,406 shares of the oil and gas company’s stock valued at $1,151,000 after buying an additional 163,400 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Superior Energy Services by 84.4% during the 4th quarter. Principal Financial Group Inc. now owns 1,268,067 shares of the oil and gas company’s stock valued at $4,248,000 after buying an additional 580,395 shares during the last quarter. Two Sigma Advisers LP raised its stake in shares of Superior Energy Services by 480.6% during the 4th quarter. Two Sigma Advisers LP now owns 533,504 shares of the oil and gas company’s stock valued at $1,787,000 after buying an additional 441,617 shares during the last quarter. Norges Bank purchased a new position in shares of Superior Energy Services during the 4th quarter valued at about $4,970,000. Finally, Versant Capital Management Inc raised its stake in shares of Superior Energy Services by 1,609.3% during the 1st quarter. Versant Capital Management Inc now owns 6,427 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 6,051 shares during the last quarter. Institutional investors and hedge funds own 97.69% of the company’s stock.

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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Analyst Recommendations for Superior Energy Services (NYSE:SPN)

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