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.
TRADEMARK VIOLATION NOTICE: “Superior Energy Services, Inc. (NYSE:SPN) Upgraded at BidaskClub” was first reported by WKRB News and is the property of of WKRB News. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://www.wkrb13.com/markets/2285517/superior-energy-services-inc-nysespn-upgraded-at-bidaskclub.html.
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
This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2285517/superior-energy-services-inc-nysespn-upgraded-at-bidaskclub.html
Receive News & Ratings for Superior Energy Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Superior Energy Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.