Bank of America Reiterates Underperform Rating for Superior Energy Services (NYSE:SPN)

Superior Energy Services (NYSE:SPN)‘s stock had its “underperform” rating restated by analysts at Bank of America in a research report issued on Tuesday, Briefing.com Automated Import reports. They currently have a $1.25 price target on the oil and gas company’s stock, down from their previous price target of $4.50. Bank of America‘s price objective suggests a potential downside of 1.57% from the stock’s current price.

A number of other equities analysts also recently weighed in on the stock. Barclays downgraded shares of Superior Energy Services from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $5.00 to $2.00 in a research note on Monday, May 20th. Jefferies Financial Group raised shares of Superior Energy Services from an “underperform” rating to a “hold” rating and lifted their target price for the stock from $3.00 to $4.00 in a research note on Friday, March 15th. Gabelli downgraded shares of Superior Energy Services from a “buy” rating to a “hold” rating and set a $8.00 target price for the company. in a research note on Thursday, April 25th. Goldman Sachs Group started coverage on shares of Superior Energy Services in a research note on Sunday, March 10th. They set a “neutral” rating and a $5.50 target price for the company. Finally, ValuEngine downgraded shares of Superior Energy Services from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company. Superior Energy Services currently has a consensus rating of “Hold” and an average price target of $6.98.

Shares of NYSE SPN opened at $1.27 on Tuesday. Superior Energy Services has a twelve month low of $1.22 and a twelve month high of $11.14. The business’s fifty day moving average price is $1.93. The company has a market capitalization of $201.18 million, a P/E ratio of -1.41 and a beta of 2.60. The company has a debt-to-equity ratio of 5.18, a current ratio of 2.12 and a quick ratio of 1.76.

Superior Energy Services (NYSE:SPN) last announced its earnings results on Tuesday, April 23rd. The oil and gas company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). Superior Energy Services had a negative return on equity of 19.11% and a negative net margin of 40.00%. The firm had revenue of $467.20 million for the quarter, compared to the consensus estimate of $495.35 million. During the same period in the prior year, the business earned ($0.34) EPS. Superior Energy Services’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, analysts anticipate that Superior Energy Services will post -0.84 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of SPN. Crossmark Global Holdings Inc. increased its stake in Superior Energy Services by 352.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 56,476 shares of the oil and gas company’s stock valued at $189,000 after purchasing an additional 44,000 shares during the last quarter. Rhumbline Advisers increased its stake in Superior Energy Services by 56.3% in the fourth quarter. Rhumbline Advisers now owns 452,407 shares of the oil and gas company’s stock valued at $1,516,000 after purchasing an additional 162,893 shares during the last quarter. Comerica Bank increased its stake in Superior Energy Services by 50.3% in the fourth quarter. Comerica Bank now owns 152,282 shares of the oil and gas company’s stock valued at $572,000 after purchasing an additional 50,982 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Superior Energy Services by 96.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 119,904 shares of the oil and gas company’s stock valued at $402,000 after purchasing an additional 58,767 shares during the last quarter. Finally, Piedmont Investment Advisors Inc. acquired a new position in Superior Energy Services in the fourth quarter valued at $123,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

About Superior Energy Services

Superior Energy Services, Inc provides oilfield services and equipment to oil and natural gas exploration and production companies in the United States, the Gulf of Mexico, and internationally. The company operates in four segments: Drilling Products and Services, Onshore Completion and Workover Services, Production Services, and Technical Solutions.

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Analyst Recommendations for Superior Energy Services (NYSE:SPN)

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