Several other research firms also recently weighed in on SPN. Zacks Investment Research downgraded Superior Energy Services from a hold rating to a sell rating in a report on Tuesday, July 30th. Wolfe Research raised Superior Energy Services from an underperform rating to an outperform rating and set a $4.00 price objective on the stock in a report on Tuesday, June 4th. Scotiabank downgraded Superior Energy Services from an outperform rating to a sector perform rating in a report on Wednesday, June 5th. Barclays downgraded Superior Energy Services from an equal weight rating to an underweight rating and cut their price objective for the company from $5.00 to $2.00 in a report on Monday, May 20th. Finally, Morgan Stanley cut their price objective on Superior Energy Services from $5.00 to $3.00 and set an underweight rating on the stock in a report on Friday, July 12th. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $5.53.
Shares of SPN stock traded down $0.12 during trading hours on Thursday, reaching $0.54. The company’s stock had a trading volume of 5,961,226 shares, compared to its average volume of 3,352,594. The company’s 50 day moving average is $1.13. The firm has a market capitalization of $103.35 million, a P/E ratio of -0.60 and a beta of 2.30. Superior Energy Services has a fifty-two week low of $0.54 and a fifty-two week high of $11.14. The company has a quick ratio of 2.07, a current ratio of 2.48 and a debt-to-equity ratio of 7.56.
In related news, Director James M. Funk bought 50,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was acquired at an average cost of $0.83 per share, with a total value of $41,500.00. Following the transaction, the director now directly owns 82,179 shares in the company, valued at $68,208.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.02% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc boosted its stake in Superior Energy Services by 1,609.3% during the 1st quarter. Versant Capital Management Inc now owns 6,427 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 6,051 shares during the last quarter. Teza Capital Management LLC bought a new stake in shares of Superior Energy Services in the 1st quarter valued at about $68,000. Marshall Wace North America L.P. bought a new stake in shares of Superior Energy Services in the 1st quarter valued at about $131,000. Oppenheimer Asset Management Inc. raised its holdings in shares of Superior Energy Services by 15.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 35,289 shares of the oil and gas company’s stock valued at $165,000 after purchasing an additional 4,616 shares in the last quarter. Finally, Advisory Services Network LLC raised its holdings in shares of Superior Energy Services by 8,975.2% in the 2nd quarter. Advisory Services Network LLC now owns 44,650 shares of the oil and gas company’s stock valued at $58,000 after purchasing an additional 44,158 shares in the last quarter. 98.82% of the stock is owned by hedge funds and other 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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