Insider Selling: Superior Energy Services Director Unloads 7,474 Shares of Stock (SPN)
Superior Energy Services (NYSE:SPN) Director Harold J. Bouillion sold 7,474 shares of the company’s stock on the open market in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $32.75, for a total value of $244,773.50. Following the completion of the transaction, the director now directly owns 7,000 shares of the company’s stock, valued at approximately $229,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Superior Energy Services (NYSE:SPN) traded up 0.92% during mid-day trading on Wednesday, hitting $33.05. 1,778,525 shares of the company’s stock traded hands. Superior Energy Services has a one year low of $22.85 and a one year high of $33.71. The stock’s 50-day moving average is $31.85 and its 200-day moving average is $27.9. The company’s market cap is $5.176 billion. Superior Energy Services also was the recipient of a significant drop in short interest during the month of April. As of April 30th, there was short interest totalling 2,515,570 shares, a drop of 57.6% from the April 15th total of 5,929,949 shares. Based on an average daily trading volume, of 2,571,775 shares, the short-interest ratio is presently 1.0 days. Currently, 1.6% of the company’s shares are sold short.
Superior Energy Services (NYSE:SPN) last issued its quarterly 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. On average, analysts predict that Superior Energy Services will post $1.71 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, May 21st. Stockholders 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 0.97%. The ex-dividend date of this dividend is Monday, April 28th.
Several analysts have recently commented on the stock. 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 analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.