Superior Energy Services, Inc. (NYSE:SPN) Upgraded at BidaskClub

BidaskClub upgraded shares of Superior Energy Services, Inc. (NYSE:SPN) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

A number of other analysts have also issued reports on SPN. Scotiabank set a $22.00 target price on Superior Energy Services and gave the company a buy rating in a report on Saturday, April 1st. Royal Bank of Canada set a $20.00 target price on Superior Energy Services and gave the company a hold rating in a report on Saturday, June 24th. Guggenheim lowered Superior Energy Services from a buy rating to a neutral rating in a report on Tuesday, June 27th. Loop Capital reaffirmed a buy rating on shares of Superior Energy Services in a report on Monday, July 3rd. Finally, Seaport Global Securities lowered Superior Energy Services from a buy rating to a neutral rating and lowered their target price for the company from $13.00 to $10.00 in a report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $18.00.

Shares of Superior Energy Services (SPN) traded up 2.12% during trading on Wednesday, hitting $10.13. The company’s stock had a trading volume of 595,674 shares. The firm’s 50 day moving average is $10.69 and its 200-day moving average is $14.36. The company’s market capitalization is $1.55 billion. Superior Energy Services has a 1-year low of $8.99 and a 1-year high of $19.39.

Superior Energy Services (NYSE:SPN) last released its earnings results on Tuesday, April 25th. The oil and gas company reported ($0.59) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.61) by $0.02. The firm had revenue of $400.94 million for the quarter, compared to analyst estimates of $388.26 million. Superior Energy Services had a negative return on equity of 27.75% and a negative net margin of 62.02%. The company’s revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.49) EPS. Analysts forecast that Superior Energy Services will post ($1.72) EPS for the current fiscal year.

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In other Superior Energy Services news, insider David D. Dunlap purchased 45,000 shares of the company’s stock in a transaction that occurred on 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 acquisition, the insider now directly owns 530,657 shares of the company’s stock, valued at approximately $6,505,854.82. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.91% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Private Asset Management Inc. boosted its stake in Superior Energy Services by 9.2% in the second quarter. Private Asset Management Inc. now owns 127,954 shares of the oil and gas company’s stock worth $1,335,000 after buying an additional 10,804 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in Superior Energy Services by 129.8% in the first quarter. Nuveen Asset Management LLC now owns 1,620,374 shares of the oil and gas company’s stock worth $23,107,000 after buying an additional 915,253 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Superior Energy Services by 36.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,384,993 shares of the oil and gas company’s stock worth $34,010,000 after buying an additional 635,390 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Superior Energy Services during the first quarter worth $8,674,000. Finally, Credit Suisse AG boosted its stake in Superior Energy Services by 20.5% in the first quarter. Credit Suisse AG now owns 179,487 shares of the oil and gas company’s stock worth $2,560,000 after buying an additional 30,524 shares in the last quarter.

Superior Energy Services Company Profile

Analyst Recommendations for Superior Energy Services (NYSE:SPN)

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