Superior Energy Services (SPN) Coverage Initiated at Stephens

Stephens started coverage on shares of Superior Energy Services (NYSE:SPN) in a research note published on Tuesday, January 9th, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $12.00 price objective on the oil and gas company’s stock.

Several other research analysts also recently issued reports on SPN. Piper Jaffray Companies reiterated a buy rating on shares of Superior Energy Services in a research note on Tuesday, September 26th. Jefferies Group set a $13.00 price objective on shares of Superior Energy Services and gave the company a hold rating in a report on Thursday, October 5th. Cowen set a $14.00 price objective on shares of Superior Energy Services and gave the company a buy rating in a report on Friday, October 6th. Royal Bank of Canada set a $14.00 price objective on shares of Superior Energy Services and gave the company a hold rating in a report on Saturday, October 7th. Finally, Deutsche Bank initiated coverage on shares of Superior Energy Services in a report on Tuesday, October 10th. They set a buy rating and a $15.00 target price for the company. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $12.78.

Superior Energy Services (SPN) traded down $0.08 during trading hours on Tuesday, reaching $11.07. 4,083,542 shares of the company traded hands, compared to its average volume of 4,496,627. Superior Energy Services has a 1-year low of $7.66 and a 1-year high of $18.81. 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 company has a market capitalization of $1,710.00, a price-to-earnings ratio of -4.50 and a beta of 2.16.

Superior Energy Services (NYSE:SPN) last posted its quarterly earnings data on Monday, October 23rd. The oil and gas company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.01). The business had revenue of $506.00 million for the quarter, compared to the consensus estimate 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 revenue was up 55.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.73) EPS. analysts anticipate that Superior Energy Services will post -1.64 earnings per share for the current year.

In other Superior Energy Services news, Director Peter D. Kinnear acquired 20,000 shares of the stock in a transaction 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 transaction, the director now directly owns 64,607 shares of the company’s stock, valued at $550,451.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.49% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Summit Financial Wealth Advisors LLC purchased a new position in Superior Energy Services in the 3rd quarter worth about $107,000. Suntrust Banks Inc. purchased a new position in Superior Energy Services in the 2nd quarter worth about $108,000. Nomura Holdings Inc. purchased a new position in Superior Energy Services in the 2nd quarter worth about $116,000. Crossmark Global Holdings Inc. purchased a new position in Superior Energy Services in the 3rd quarter worth about $126,000. Finally, PEAK6 Investments L.P. increased its stake in Superior Energy Services by 149.0% in the 3rd quarter. PEAK6 Investments L.P. now owns 12,704 shares of the oil and gas company’s stock worth $136,000 after buying an additional 38,640 shares during the period.

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Superior Energy Services Company Profile

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.

Analyst Recommendations for Superior Energy Services (NYSE:SPN)

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