Superior Energy Services, Inc. (SPN) Receives “Buy” Rating from Deutsche Bank AG
Superior Energy Services, Inc. (NYSE:SPN)‘s stock had its “buy” rating reaffirmed by investment analysts at Deutsche Bank AG in a note issued to investors on Thursday. They currently have a $15.00 price objective on the oil and gas company’s stock, down from their previous price objective of $22.00. Deutsche Bank AG’s target price indicates a potential upside of 30.55% from the company’s current price.
SPN has been the subject of several other reports. Seaport Global Securities cut shares of Superior Energy Services from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $13.00 to $10.00 in a research report on Wednesday, June 21st. Nomura set a $13.00 target price on shares of Superior Energy Services and gave the stock a “hold” rating in a research report on Thursday, April 27th. BidaskClub raised shares of Superior Energy Services from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Loop Capital reaffirmed a “buy” rating on shares of Superior Energy Services in a research report on Monday, July 3rd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $19.00 target price on shares of Superior Energy Services in a research report on Tuesday, April 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $16.90.
Shares of Superior Energy Services (SPN) traded up 1.50% during trading on Thursday, hitting $11.49. The stock had a trading volume of 4,854,087 shares. The firm has a 50-day moving average of $10.48 and a 200 day moving average of $13.48. The company’s market capitalization is $1.76 billion. Superior Energy Services has a 1-year low of $8.99 and a 1-year high of $19.39.
Superior Energy Services (NYSE:SPN) last posted its earnings results on Tuesday, July 25th. The oil and gas company reported ($0.41) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.48) by $0.07. Superior Energy Services had a negative net margin of 31.24% and a negative return on equity of 27.86%. The firm had revenue of $470.07 million during the quarter, compared to analysts’ expectations of $465.75 million. During the same period last year, the company posted ($3.09) EPS. The company’s quarterly revenue was up 31.9% compared to the same quarter last year. Equities research analysts predict that Superior Energy Services will post ($1.68) earnings per share for the current fiscal year.
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In other news, insider David D. Dunlap bought 45,000 shares of the firm’s stock in a transaction on Friday, April 28th. The stock was acquired at an average cost of $12.26 per share, with a total value of $551,700.00. Following the completion of the acquisition, the insider now owns 530,657 shares of the company’s stock, valued at $6,505,854.82. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.91% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Superior Energy Services by 10,301.4% in the first quarter. BlackRock Inc. now owns 23,424,814 shares of the oil and gas company’s stock valued at $334,036,000 after buying an additional 23,199,606 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Superior Energy Services during the first quarter valued at about $18,987,000. Anchor Capital Advisors LLC purchased a new position in shares of Superior Energy Services during the first quarter valued at about $16,380,000. Norges Bank purchased a new position in shares of Superior Energy Services during the fourth quarter valued at about $18,930,000. Finally, GMT Capital Corp boosted its position in shares of Superior Energy Services by 380.1% in the first quarter. GMT Capital Corp now owns 1,400,530 shares of the oil and gas company’s stock valued at $19,972,000 after buying an additional 1,108,800 shares during the period.
About Superior Energy Services
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