Shares of Superior Energy Services Inc. (NYSE:SPN) rose 3% on Wednesday . The company traded as high as $15.52 and last traded at $15.29, with a volume of 955,602 shares. The stock had previously closed at $14.84.

SPN has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Superior Energy Services from a “buy” rating to a “hold” rating in a report on Wednesday, July 20th. Stephens restated a “top pick” rating on shares of Superior Energy Services in a report on Friday, July 15th. Scotiabank restated a “focus stock” rating and issued a $27.00 target price (up from $21.00) on shares of Superior Energy Services in a report on Friday, June 17th. Jefferies Group restated a “buy” rating and issued a $21.00 target price on shares of Superior Energy Services in a report on Wednesday, July 27th. Finally, Citigroup Inc. reduced their target price on shares of Superior Energy Services from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the stock. Superior Energy Services has an average rating of “Buy” and an average price target of $16.94.

The firm’s market cap is $2.35 billion. The firm has a 50 day moving average price of $16.58 and a 200-day moving average price of $16.13.

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Superior Energy Services (NYSE:SPN) last posted its quarterly earnings results on Monday, July 25th. The company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.05. Superior Energy Services had a negative net margin of 84.36% and a negative return on equity of 13.55%. The company earned $356.30 million during the quarter, compared to analysts’ expectations of $367.73 million. During the same quarter in the previous year, the business posted ($0.31) EPS. The firm’s revenue was down 49.9% on a year-over-year basis. Equities research analysts forecast that Superior Energy Services Inc. will post ($2.13) EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of SPN. IBM Retirement Fund boosted its position in Superior Energy Services by 1.4% in the second quarter. IBM Retirement Fund now owns 15,179 shares of the company’s stock valued at $279,000 after buying an additional 211 shares during the period. IndexIQ Advisors LLC increased its stake in shares of Superior Energy Services by 5.3% in the second quarter. IndexIQ Advisors LLC now owns 5,846 shares of the company’s stock valued at $108,000 after buying an additional 293 shares in the last quarter. State Treasurer State of Michigan increased its stake in shares of Superior Energy Services by 0.7% in the second quarter. State Treasurer State of Michigan now owns 60,800 shares of the company’s stock valued at $1,119,000 after buying an additional 400 shares in the last quarter. Utah Retirement Systems increased its stake in shares of Superior Energy Services by 1.9% in the second quarter. Utah Retirement Systems now owns 27,379 shares of the company’s stock valued at $504,000 after buying an additional 500 shares in the last quarter. Finally, Brown Advisory Inc. increased its stake in shares of Superior Energy Services by 0.5% in the second quarter. Brown Advisory Inc. now owns 100,536 shares of the company’s stock valued at $1,851,000 after buying an additional 536 shares in the last quarter.

About Superior Energy Services

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