Insider Selling: Enoch L. Dawkins Sells 7,474 Shares of Superior Energy Services Stock (SPN)
Superior Energy Services (NYSE:SPN) Director Enoch L. Dawkins sold 7,474 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $32.45, for a total transaction of $242,531.30. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $649,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Superior Energy Services (NYSE:SPN) traded down 2.07% on Thursday, hitting $31.66. 3,035,131 shares of the company’s stock traded hands. Superior Energy Services has a 52 week low of $22.85 and a 52 week high of $33.71. The stock has a 50-day moving average of $31.50 and a 200-day moving average of $27.78. The company’s market cap is $4.958 billion. Superior Energy Services also saw a large decrease in short interest in the month of April. As of April 30th, there was short interest totalling 2,515,570 shares, a decrease of 57.6% from the April 15th total of 5,929,949 shares. Based on an average daily volume of 2,571,775 shares, the days-to-cover ratio is presently 1.0 days. Approximately 1.6% of the shares of the stock are sold short.
Superior Energy Services (NYSE:SPN) last released its earnings data on Thursday, April 24th. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.21 by $0.06. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company posted $0.40 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis. Analysts expect that Superior Energy Services will post $1.70 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, May 21st. Investors of record on Wednesday, April 30th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Monday, April 28th.
SPN has been the subject of a number of recent research reports. Analysts at Citigroup Inc. raised their price target on shares of Superior Energy Services from $34.00 to $38.00 in a research note on Tuesday, May 6th. They now have a “buy” rating on the stock. Separately, analysts at Cowen and Company raised their price target on shares of Superior Energy Services from $30.00 to $33.00 in a research note on Tuesday, April 29th. They now have a “hold” rating on the stock. Finally, analysts at Raymond James raised their price target on shares of Superior Energy Services from $35.00 to $40.00 in a research note on Monday, April 28th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $34.99.
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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