Superior Energy Services (NYSE:SPN) Lowered to Neutral at Susquehanna Bancshares

Susquehanna Bancshares cut shares of Superior Energy Services (NYSE:SPN) from a positive rating to a neutral rating in a report published on Wednesday morning, Briefing.com Automated Import reports. Susquehanna Bancshares currently has $1.50 price target on the oil and gas company’s stock, down from their prior price target of $7.00.

SPN has been the topic of a number of other reports. Jefferies Financial Group raised their price target on Broadcom from $314.00 to $341.00 and gave the company a buy rating in a report on Friday, March 15th. Citigroup reissued a buy rating and set a $25.00 price target on shares of Propetro in a report on Tuesday, July 2nd. JPMorgan Chase & Co. started coverage on INTL CONS AIRL/S in a report on Tuesday, June 4th. They set an overweight rating on the stock. Wolfe Research raised Superior Energy Services from an underperform rating to an outperform rating and set a $4.00 price target on the stock in a report on Tuesday, June 4th. Finally, Barclays lifted their target price on NetEase from $300.00 to $320.00 and gave the stock an overweight rating in a report on Monday, May 20th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company’s stock. Superior Energy Services presently has a consensus rating of Hold and an average target price of $6.26.

Shares of SPN opened at $1.17 on Wednesday. The firm has a market capitalization of $182.47 million, a price-to-earnings ratio of -1.30 and a beta of 2.31. 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 has a one year low of $1.13 and a one year high of $11.14. The company’s fifty day simple moving average is $1.48.

Superior Energy Services (NYSE:SPN) last issued its quarterly earnings results on Tuesday, April 23rd. The oil and gas company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). The business had revenue of $467.20 million for the quarter, compared to analyst estimates of $495.35 million. Superior Energy Services had a negative net margin of 40.00% and a negative return on equity of 19.11%. Superior Energy Services’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period last year, the business posted ($0.34) earnings per share. On average, research analysts expect that Superior Energy Services will post -0.86 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Comerica Bank lifted its holdings in Superior Energy Services by 50.3% in the 4th 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 in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Superior Energy Services by 96.1% in the 4th 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 in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Superior Energy Services by 162.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 41,995 shares of the oil and gas company’s stock valued at $140,000 after purchasing an additional 25,990 shares in the last quarter. BlackRock Inc. lifted its holdings in Superior Energy Services by 34.2% in the 4th quarter. BlackRock Inc. now owns 24,180,395 shares of the oil and gas company’s stock valued at $81,002,000 after purchasing an additional 6,165,927 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Superior Energy Services by 4.1% in the 4th quarter. Bank of New York Mellon Corp now owns 1,944,064 shares of the oil and gas company’s stock valued at $6,513,000 after purchasing an additional 76,626 shares in the last quarter. 98.84% of the stock is owned by institutional investors.

Superior Energy Services Company Profile

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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