Superior Energy Services (NYSE:SPN) PT Lowered to $3.00

Superior Energy Services (NYSE:SPN) had its target price reduced by Morgan Stanley from $5.00 to $3.00 in a research note released on Friday, BenzingaRatingsTable reports. They currently have an underweight rating on the oil and gas company’s stock.

A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of EXACT Sciences from a hold rating to a sell rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. assumed coverage on shares of INTL CONS AIRL/S in a research report on Tuesday, June 4th. They set an overweight rating on the stock. ValuEngine cut shares of Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st. Citigroup reissued a buy rating and set a $25.00 target price on shares of Propetro in a research report on Tuesday, July 2nd. Finally, Scotiabank cut shares of Superior Energy Services from an outperform rating to a sector perform rating in a research report on Wednesday, June 5th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $6.26.

Shares of SPN stock opened at $1.06 on Friday. The firm has a market capitalization of $182.47 million, a PE ratio of -1.18 and a beta of 2.31. The company has a current ratio of 2.12, a quick ratio of 1.76 and a debt-to-equity ratio of 5.18. Superior Energy Services has a fifty-two week low of $1.05 and a fifty-two week high of $11.14. The firm’s 50 day simple moving average is $1.43.

Superior Energy Services (NYSE:SPN) last announced its quarterly 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). 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%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period last year, the firm earned ($0.34) earnings per share. On average, research analysts anticipate that Superior Energy Services will post -0.86 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Superior Energy Services by 34.2% during the fourth 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 during the last quarter. D. E. Shaw & Co. Inc. increased its stake in Superior Energy Services by 156.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 3,313,766 shares of the oil and gas company’s stock valued at $11,101,000 after purchasing an additional 2,022,800 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Superior Energy Services by 4.1% during the fourth 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 during the last quarter. Geode Capital Management LLC increased its stake in Superior Energy Services by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 1,595,329 shares of the oil and gas company’s stock valued at $5,344,000 after purchasing an additional 70,168 shares during the last quarter. Finally, Norges Bank bought a new stake in Superior Energy Services during the fourth quarter valued at $4,970,000. 98.86% of the stock is currently 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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