Shares of Superior Energy Services, Inc. (NYSE:SPN) rose 5.7% on Friday . The company traded as high as $9.95 and last traded at $9.87. Approximately 3,072,818 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 4,013,832 shares. The stock had previously closed at $9.34.
SPN has been the subject of a number of analyst reports. Royal Bank of Canada set a $10.00 price objective on shares of Superior Energy Services and gave the stock a “hold” rating in a research note on Thursday, December 21st. ValuEngine cut shares of Superior Energy Services from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st. Credit Suisse Group upped their target price on shares of Superior Energy Services from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st. Scotiabank cut shares of Superior Energy Services to a “hold” rating in a research note on Thursday, January 11th. Finally, Howard Weil cut shares of Superior Energy Services from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $12.91.
The company has a quick ratio of 1.67, a current ratio of 2.03 and a debt-to-equity ratio of 1.13.
Hedge funds have recently made changes to their positions in the company. Elkfork Partners LLC bought a new stake in shares of Superior Energy Services in the 4th quarter worth about $178,000. MetLife Investment Advisors LLC bought a new stake in shares of Superior Energy Services in the 4th quarter worth about $1,641,000. Gotham Asset Management LLC bought a new stake in shares of Superior Energy Services in the 4th quarter worth about $1,330,000. Jump Trading LLC bought a new stake in shares of Superior Energy Services in the 4th quarter worth about $104,000. Finally, Macquarie Group Ltd. grew its holdings in shares of Superior Energy Services by 5.4% in the 4th quarter. Macquarie Group Ltd. now owns 2,188,376 shares of the oil and gas company’s stock worth $21,074,000 after purchasing an additional 112,222 shares during the last quarter.
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About Superior Energy Services
Superior Energy Services, Inc provides a range of services and products to the energy industry related to the exploration, development and production of oil and natural gas. The Company’s segments include Drilling Products and Services, which rents and sells bottom hole assemblies, drill pipe, tubulars and specialized equipment for use with onshore and offshore oil and gas well drilling, production and workover activities; Onshore Completion and Workover Services, which provides pressure pumping services used to complete and stimulate production in new oil and gas wells, fluid handling services and well servicing rigs that provide a range of well completion and maintenance services; Production Services, which provides intervention services, such as coiled tubing, cased hole and mechanical wireline, hydraulic workover and snubbing, and remedial pumping services, and Technical Solutions, which provides services requiring specialized engineering, manufacturing or project planning.
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