Superior Energy Services (NYSE:SPN) Now Covered by Analysts at Bank of America

Bank of America started coverage on shares of Superior Energy Services (NYSE:SPN) in a report issued on Wednesday, October 17th, MarketBeat reports. The firm issued a neutral rating on the oil and gas company’s stock.

Several other research firms have also issued reports on SPN. ValuEngine upgraded shares of Superior Energy Services from a sell rating to a hold rating in a report on Tuesday, October 2nd. Wolfe Research began coverage on Superior Energy Services in a research note on Wednesday, October 10th. They issued an underperform rating for the company. Morgan Stanley lowered Superior Energy Services from an equal weight rating to an underweight rating in a research note on Thursday, July 12th. Zacks Investment Research lowered Superior Energy Services from a hold rating to a sell rating in a research note on Wednesday, July 18th. Finally, Royal Bank of Canada set a $15.00 price objective on Superior Energy Services and gave the company a hold rating in a research note on Thursday, September 20th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Superior Energy Services presently has a consensus rating of Hold and a consensus target price of $11.76.

NYSE SPN traded down $0.10 during trading hours on Wednesday, reaching $8.10. The company’s stock had a trading volume of 4,692,127 shares, compared to its average volume of 3,254,077. Superior Energy Services has a 52 week low of $7.28 and a 52 week high of $12.73. The company has a current ratio of 2.03, a quick ratio of 1.65 and a debt-to-equity ratio of 1.24.

Superior Energy Services (NYSE:SPN) last issued its quarterly earnings data on Monday, October 22nd. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). The business had revenue of $573.07 million during the quarter, compared to the consensus estimate of $563.47 million. Superior Energy Services had a negative net margin of 4.76% and a negative return on equity of 14.06%. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.33) EPS. As a group, research analysts expect that Superior Energy Services will post -0.9 EPS for the current fiscal year.

In related news, Director James M. Funk bought 5,000 shares of the business’s stock in a transaction dated Thursday, November 1st. The shares were purchased at an average cost of $7.98 per share, with a total value of $39,900.00. Following the completion of the purchase, the director now owns 16,961 shares in the company, valued at approximately $135,348.78. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Westervelt T. Ballard, Jr. bought 4,000 shares of the business’s stock in a transaction dated Wednesday, October 24th. The stock was bought at an average cost of $7.68 per share, for a total transaction of $30,720.00. Following the completion of the purchase, the chief financial officer now owns 88,004 shares of the company’s stock, valued at approximately $675,870.72. The disclosure for this purchase can be found here. 3.81% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPN. BlackRock Inc. boosted its position in shares of Superior Energy Services by 0.6% during the third quarter. BlackRock Inc. now owns 18,014,468 shares of the oil and gas company’s stock valued at $175,462,000 after buying an additional 106,965 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Superior Energy Services by 14.6% during the second quarter. Dimensional Fund Advisors LP now owns 12,933,972 shares of the oil and gas company’s stock valued at $125,977,000 after buying an additional 1,648,465 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Superior Energy Services by 59.3% during the third quarter. Prudential Financial Inc. now owns 5,937,629 shares of the oil and gas company’s stock valued at $57,832,000 after buying an additional 2,210,112 shares during the last quarter. FMR LLC boosted its position in shares of Superior Energy Services by 5.4% during the third quarter. FMR LLC now owns 3,725,934 shares of the oil and gas company’s stock valued at $36,291,000 after buying an additional 189,602 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Superior Energy Services by 128.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 2,430,284 shares of the oil and gas company’s stock valued at $23,671,000 after buying an additional 1,366,854 shares during the last quarter.

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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