Short Interest in Superior Energy Services Declines By 57.6% (SPN)
Superior Energy Services (NYSE:SPN) was the recipient of a significant decrease in short interest during 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, AnalystRatings.NET reports. Based on an average trading volume of 2,571,775 shares, the days-to-cover ratio is currently 1.0 days. Currently, 1.6% of the shares of the stock are sold short.
In other Superior Energy Services news, Director Harold Bouillion sold 7,474 shares of Superior Energy Services stock on the open market in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $32.75, for a total transaction of $244,773.50. Following the completion of the sale, the director now directly owns 7,000 shares in the company, valued at approximately $229,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on SPN shares. 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 investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $34.99.
Shares of Superior Energy Services (NYSE:SPN) opened at 32.99 on Monday. Superior Energy Services has a one year low of $22.85 and a one year high of $33.71. The stock has a 50-day moving average of $32.01 and a 200-day moving average of $28.07. The company’s market cap is $5.166 billion.
Superior Energy Services (NYSE:SPN) last released its earnings data on Thursday, April 24th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. Analysts expect that Superior Energy Services will post $1.71 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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