Superior Energy Services (SPN) Lowered to Hold at Scotiabank

Scotiabank cut shares of Superior Energy Services (NYSE:SPN) to a hold rating in a research report sent to investors on Thursday morning.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Co downgraded shares of Superior Energy Services from an outperform rating to a market perform rating in a research report on Monday, October 16th. Piper Jaffray Companies reissued a buy rating on shares of Superior Energy Services in a research report on Tuesday, September 26th. Royal Bank of Canada set a $12.00 target price on shares of Superior Energy Services and gave the stock a hold rating in a research report on Wednesday, October 25th. Jefferies Group set a $10.00 target price on shares of Superior Energy Services and gave the stock a hold rating in a research report on Thursday, January 4th. Finally, Barclays set a $10.00 target price on shares of Superior Energy Services and gave the stock a hold rating in a research report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $12.72.

Superior Energy Services (NYSE:SPN) traded up $0.26 during trading on Thursday, reaching $11.31. 5,007,867 shares of the company’s stock traded hands, compared to its average volume of 4,231,378. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.99 and a quick ratio of 1.64. The firm has a market capitalization of $1,731.37, a P/E ratio of -4.02 and a beta of 2.16. Superior Energy Services has a 52-week low of $7.66 and a 52-week high of $18.81.

Superior Energy Services (NYSE:SPN) last posted its earnings results on Monday, October 23rd. The oil and gas company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.01). The business had revenue of $506.00 million for the quarter, compared to analyst estimates of $511.23 million. Superior Energy Services had a negative return on equity of 26.18% and a negative net margin of 24.59%. The company’s quarterly revenue was up 55.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.73) earnings per share. equities research analysts forecast that Superior Energy Services will post -1.64 EPS for the current year.

In related news, Director Peter D. Kinnear bought 20,000 shares of Superior Energy Services stock in a transaction that occurred on Monday, October 30th. The stock was acquired at an average price of $8.52 per share, for a total transaction of $170,400.00. Following the completion of the purchase, the director now owns 64,607 shares in the company, valued at $550,451.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.49% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio lifted its stake in shares of Superior Energy Services by 65.4% in the third quarter. Public Employees Retirement System of Ohio now owns 209,228 shares of the oil and gas company’s stock valued at $2,235,000 after buying an additional 82,700 shares during the period. GSA Capital Partners LLP lifted its stake in shares of Superior Energy Services by 52.1% in the third quarter. GSA Capital Partners LLP now owns 24,381 shares of the oil and gas company’s stock valued at $260,000 after buying an additional 8,348 shares during the period. Algert Global LLC bought a new stake in shares of Superior Energy Services in the third quarter valued at about $1,911,000. GeoSphere Capital Management bought a new stake in shares of Superior Energy Services in the third quarter valued at about $1,497,000. Finally, California Public Employees Retirement System lifted its stake in shares of Superior Energy Services by 7.9% in the third 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 buying an additional 41,677 shares during the period.

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Superior Energy Services Company Profile

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