Superior Energy Services, Inc. (SPN) Stock Price Down 2.8%

Superior Energy Services, Inc. (NYSE:SPN) shares traded down 2.8% during mid-day trading on Tuesday . The stock traded as low as $8.28 and last traded at $9.19. 2,742,000 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 4,083,944 shares. The stock had previously closed at $9.45.

Several research analysts have issued reports on the stock. Scotiabank restated a “buy” rating on shares of Superior Energy Services in a research report on Friday, October 27th. Royal Bank Of Canada set a $12.00 price objective on shares of Superior Energy Services and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Credit Suisse Group decreased their price objective on shares of Superior Energy Services from $12.00 to $11.00 and set an “outperform” rating for the company in a research note on Wednesday, October 25th. Barclays PLC set a $10.00 price objective on shares of Superior Energy Services and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Finally, Deutsche Bank AG decreased their price objective on shares of Superior Energy Services from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $13.82.

The company has a quick ratio of 1.64, a current ratio of 1.99 and a debt-to-equity ratio of 1.15.

Superior Energy Services (NYSE:SPN) last posted its quarterly earnings results on Monday, October 23rd. The oil and gas company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.01). Superior Energy Services had a negative net margin of 24.59% and a negative return on equity of 26.18%. The company had revenue of $506.00 million during the quarter, compared to analyst estimates of $511.23 million. During the same quarter in the previous year, the business posted ($0.73) earnings per share. The company’s revenue for the quarter was up 55.1% on a year-over-year basis. equities research analysts forecast that Superior Energy Services, Inc. will post -1.63 earnings per share for the current year.

In other Superior Energy Services news, Director Peter D. Kinnear bought 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were acquired at an average cost of $8.52 per share, for a total transaction of $170,400.00. Following the transaction, the director now directly owns 64,607 shares in the company, valued at $550,451.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.91% of the company’s stock.

Several large investors have recently added to or reduced their stakes in SPN. California Public Employees Retirement System increased its stake in Superior Energy Services by 7.9% during the 3rd quarter. California Public Employees Retirement System now owns 568,777 shares of the oil and gas company’s stock valued at $6,075,000 after purchasing an additional 41,677 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of Superior Energy Services by 6,374.2% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 90,639 shares of the oil and gas company’s stock worth $968,000 after buying an additional 89,239 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in Superior Energy Services by 9.1% during the third quarter. Point72 Asset Management L.P. now owns 1,196,000 shares of the oil and gas company’s stock valued at $12,773,000 after purchasing an additional 100,200 shares during the last quarter. Jane Street Group LLC purchased a new stake in Superior Energy Services during the third quarter valued at about $217,000. Finally, Boothbay Fund Management LLC purchased a new stake in Superior Energy Services during the third quarter valued at about $248,000.

WARNING: “Superior Energy Services, Inc. (SPN) Stock Price Down 2.8%” was originally published by Markets Daily and is the property of of Markets Daily. If you are reading this report on another website, it was stolen and republished in violation of U.S. & international trademark & copyright law. The legal version of this report can be accessed at https://www.themarketsdaily.com/2017/11/16/superior-energy-services-inc-spn-stock-price-down-2-8.html.

Superior Energy Services Company Profile

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.

Latest News

Leave a Reply