Superior Energy Services Inc. (SPN) Trading 1.3% Higher on Analyst Upgrade
Superior Energy Services Inc. (NYSE:SPN)’s share price was up 1.3% on Wednesday after Citigroup raised their price target on the stock from $21.00 to $22.00. Citigroup currently has a buy rating on the stock. Superior Energy Services traded as high as $18.52 and last traded at $18.35, with a volume of 1,270,460 shares trading hands. The stock had previously closed at $18.11.
Other equities analysts also recently issued reports about the company. Jefferies Group reaffirmed a “buy” rating and issued a $21.00 price objective (down from $22.00) on shares of Superior Energy Services in a research note on Monday, July 11th. Zacks Investment Research raised Superior Energy Services from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Thursday, June 30th. Seaport Global Securities reissued a “buy” rating on shares of Superior Energy Services in a research report on Friday, August 19th. Loop Capital started coverage on Superior Energy Services in a research report on Friday, September 30th. They set a “buy” rating for the company. Finally, Scotiabank reissued a “focus stock” rating and set a $27.00 price target (up previously from $21.00) on shares of Superior Energy Services in a research report on Friday, June 17th. Eight analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company. Superior Energy Services currently has an average rating of “Buy” and an average target price of $17.01.
Hedge funds have recently made changes to their positions in the stock. IndexIQ Advisors LLC raised 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. BlueMountain Capital Management LLC purchased a new stake in shares of Superior Energy Services during the first quarter valued at $105,000. LS Investment Advisors LLC raised its stake in shares of Superior Energy Services by 78.4% in the second quarter. LS Investment Advisors LLC now owns 9,095 shares of the company’s stock valued at $167,000 after buying an additional 3,996 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Superior Energy Services by 1,055.5% in the first quarter. Loomis Sayles & Co. L P now owns 9,521 shares of the company’s stock valued at $127,000 after buying an additional 8,697 shares in the last quarter. Finally, Washington Trust Bank raised its stake in shares of Superior Energy Services by 7.7% in the second quarter. Washington Trust Bank now owns 9,800 shares of the company’s stock valued at $180,000 after buying an additional 700 shares in the last quarter.
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The stock’s market capitalization is $2.78 billion. The firm’s 50 day moving average is $16.62 and its 200 day moving average is $16.54.
Superior Energy Services (NYSE:SPN) last posted its quarterly earnings results on Monday, July 25th. The company reported ($0.53) EPS for the quarter, beating 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 business had revenue of $356.30 million for the quarter, compared to analysts’ expectations of $367.73 million. During the same period in the previous year, the company posted ($0.31) EPS. Superior Energy Services’s revenue was down 49.9% on a year-over-year basis. On average, equities research analysts anticipate that Superior Energy Services Inc. will post ($2.13) EPS for the current year.
Superior Energy Services Company Profile
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