Superior Energy Services, Inc. (NYSE:SPN) Receives “Buy” Rating from Loop Capital
Superior Energy Services, Inc. (NYSE:SPN)‘s stock had its “buy” rating reaffirmed by research analysts at Loop Capital in a note issued to investors on Monday.
Several other brokerages have also issued reports on SPN. Morgan Stanley lowered Superior Energy Services from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 21st. Royal Bank Of Canada set a $20.00 target price on Superior Energy Services and gave the stock a “hold” rating in a research report on Saturday, June 24th. Jefferies Group LLC reissued a “hold” rating and issued a $19.00 target price on shares of Superior Energy Services in a research report on Wednesday, March 22nd. Tudor Pickering initiated coverage on Superior Energy Services in a research report on Thursday, March 23rd. They issued a “hold” rating for the company. Finally, BidaskClub raised Superior Energy Services from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Superior Energy Services presently has a consensus rating of “Hold” and a consensus target price of $18.00.
Superior Energy Services (SPN) traded up 6.52% during midday trading on Monday, hitting $11.11. The stock had a trading volume of 2,224,130 shares. The company’s market cap is $1.70 billion. Superior Energy Services has a 12 month low of $8.99 and a 12 month high of $19.39. The firm’s 50-day moving average price is $10.69 and its 200 day moving average price is $14.36.
Superior Energy Services (NYSE:SPN) last announced its earnings results on Tuesday, April 25th. The oil and gas company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.02. Superior Energy Services had a negative return on equity of 27.75% and a negative net margin of 62.02%. The firm had revenue of $400.94 million during the quarter, compared to analyst estimates of $388.26 million. During the same quarter in the prior year, the company earned ($0.49) EPS. The business’s revenue was down 3.0% compared to the same quarter last year. On average, analysts expect that Superior Energy Services will post ($1.72) earnings per share for the current fiscal year.
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In other news, insider David D. Dunlap purchased 45,000 shares of the company’s stock in a transaction dated Friday, April 28th. The shares were purchased at an average cost of $12.26 per share, for a total transaction of $551,700.00. Following the purchase, the insider now directly owns 530,657 shares in the company, valued at approximately $6,505,854.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.91% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. State of Tennessee Treasury Department increased its position in Superior Energy Services by 66.7% in the first quarter. State of Tennessee Treasury Department now owns 150,000 shares of the oil and gas company’s stock worth $2,139,000 after buying an additional 60,000 shares during the period. Virginia Retirement Systems ET AL increased its position in Superior Energy Services by 16.4% in the first quarter. Virginia Retirement Systems ET AL now owns 28,051 shares of the oil and gas company’s stock worth $400,000 after buying an additional 3,951 shares during the period. Retirement Systems of Alabama increased its position in Superior Energy Services by 111.8% in the first quarter. Retirement Systems of Alabama now owns 415,007 shares of the oil and gas company’s stock worth $5,918,000 after buying an additional 219,058 shares during the period. Canada Pension Plan Investment Board increased its position in Superior Energy Services by 26.7% in the first quarter. Canada Pension Plan Investment Board now owns 179,100 shares of the oil and gas company’s stock worth $2,554,000 after buying an additional 37,700 shares during the period. Finally, Swiss National Bank increased its position in Superior Energy Services by 1.3% in the first quarter. Swiss National Bank now owns 249,575 shares of the oil and gas company’s stock worth $3,559,000 after buying an additional 3,200 shares during the period.
About Superior Energy Services
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