Traders Purchase High Volume of Superior Energy Services Put Options (SPN)
Shares of Superior Energy Services (NYSE:SPN) was the target of unusually large options trading on Monday. Stock investors acquired 6,793 put options on the stock, Stock Ratings Network reports. This is an increase of approximately 748% compared to the typical volume of 801 put options.
A number of research firms have recently commented on SPN. Analysts at Credit Suisse reiterated a “buy” rating on shares of Superior Energy Services in a research note to investors on Friday. They now have a $33.00 price target on the stock. Separately, analysts at Jefferies Group cut their price target on shares of Superior Energy Services from $33.00 to $32.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at Zacks upgraded shares of Superior Energy Services from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, October 8th. They now have a $25.90 price target on the stock. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $31.53.
Superior Energy Services (NYSE:SPN) traded down 0.23% during mid-day trading on Monday, hitting $25.81. The stock had a trading volume of 4,844,907 shares. Superior Energy Services has a 1-year low of $18.00 and a 1-year high of $29.22. The stock has a 50-day moving average of $25.57 and a 200-day moving average of $26.24. The company has a market cap of $4.118 billion and a price-to-earnings ratio of 13.68.
Superior Energy Services (NYSE:SPN) last released its earnings data on Monday, July 29th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company posted $0.83 earnings per share. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. Analysts expect that Superior Energy Services will post $1.82 EPS for the current fiscal year.
Superior Energy Services, Inc is a provider of oilfield services and equipment. The Company offers a variety of products and services throughout the life cycle of an oil and gas well.
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