Superior Energy Services, Inc. (SPN) Given Average Recommendation of “Buy” by Analysts

Superior Energy Services, Inc. (SPN) Given Average Recommendation of “Buy” by Analysts

A number of analysts have recently issued reports on the company. Jefferies Group LLC lowered Superior Energy Services from a “buy” rating to a “hold” rating and dropped their target price for the stock from $20.00 to $19.00 in a research report on Friday, February 17th. Morgan Stanley lifted their target price on Superior Energy Services from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 31st. Barclays PLC reaffirmed a “buy” rating and set a $19.00 target price on shares of Superior Energy Services in a research report on Wednesday, March 1st. Royal Bank of Canada reaffirmed a “hold” rating and set a $20.00 target price on shares of Superior Energy Services in a research report on Monday, April 3rd. Finally, Scotiabank set a $22.00 target price on Superior Energy Services and gave the stock a “buy” rating in a research report on Saturday, April 1st.

Superior Energy Services, Inc. (NYSE:SPN) has been assigned an average recommendation of “Buy” from the twenty-four research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $19.61.

Shares of Superior Energy Services (SPN) traded down 4.67% during midday trading on Tuesday, reaching $10.40. The company’s stock had a trading volume of 5,425,771 shares. Superior Energy Services has a 52 week low of $10.38 and a 52 week high of $19.83. The firm’s market capitalization is $1.59 billion. The firm’s 50 day moving average is $12.05 and its 200 day moving average is $15.34.

Superior Energy Services (NYSE:SPN) last announced its earnings results on Tuesday, April 25th. The oil and gas company reported ($0.59) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.61) by $0.02. Superior Energy Services had a negative return on equity of 17.51% and a negative net margin of 55.65%. The business had revenue of $400.94 million for the quarter, compared to analyst estimates of $388.26 million. During the same period in the previous year, the company earned ($0.49) earnings per share. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. Equities analysts forecast that Superior Energy Services will post ($1.73) EPS for the current fiscal year.

In related news, insider David D. Dunlap bought 45,000 shares of the stock in a transaction dated Friday, April 28th. The stock was bought at an average cost of $12.26 per share, with a total value of $551,700.00. Following the completion of the acquisition, the insider now owns 530,657 shares of the company’s stock, valued at $6,505,854.82. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.91% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the stock. Independent Portfolio Consultants Inc. bought a new position in Superior Energy Services during the first quarter valued at approximately $105,000. Tyers Asset Management LLC bought a new position in Superior Energy Services during the fourth quarter valued at approximately $106,000. Flinton Capital Management LLC raised its position in Superior Energy Services by 9.1% in the first quarter. Flinton Capital Management LLC now owns 8,708 shares of the oil and gas company’s stock valued at $124,000 after buying an additional 728 shares during the period. Washington Trust Bank raised its position in Superior Energy Services by 17.7% in the first quarter. Washington Trust Bank now owns 9,810 shares of the oil and gas company’s stock valued at $140,000 after buying an additional 1,478 shares during the period. Finally, Neuburgh Advisers LLC raised its position in Superior Energy Services by 9.1% in the first quarter. Neuburgh Advisers LLC now owns 10,574 shares of the oil and gas company’s stock valued at $151,000 after buying an additional 884 shares during the period.

Superior Energy Services Company Profile

new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “SPN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Related posts

Leave a Comment