Piper Jaffray Companies Reiterates “Buy” Rating for Superior Energy Services, Inc. (SPN)
Superior Energy Services, Inc. (NYSE:SPN)‘s stock had its “buy” rating reiterated by Piper Jaffray Companies in a research report issued on Tuesday.
Other analysts have also recently issued reports about the company. Royal Bank Of Canada set a $20.00 price objective on Superior Energy Services and gave the stock a “hold” rating in a report on Saturday, June 24th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $14.00 price target on shares of Superior Energy Services in a research note on Friday, July 14th. BidaskClub raised Superior Energy Services from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Superior Energy Services in a research note on Wednesday, July 26th. Finally, Loop Capital reaffirmed a “buy” rating on shares of Superior Energy Services in a research note on Monday, July 3rd. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.33.
Superior Energy Services (NYSE SPN) traded down 0.76% during trading on Tuesday, hitting $10.49. 2,279,733 shares of the stock traded hands. Superior Energy Services has a 52 week low of $7.91 and a 52 week high of $19.39. The stock’s market cap is $1.61 billion. The firm’s 50-day moving average is $9.17 and its 200 day moving average is $11.23.
Superior Energy Services (NYSE:SPN) last announced its quarterly earnings data on Tuesday, July 25th. The oil and gas company reported ($0.41) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.48) by $0.07. The firm had revenue of $470.07 million during the quarter, compared to analysts’ expectations of $465.75 million. Superior Energy Services had a negative return on equity of 28.82% and a negative net margin of 31.24%. The company’s quarterly revenue was up 31.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($3.09) EPS. Equities research analysts forecast that Superior Energy Services will post ($1.57) earnings per share for the current fiscal year.
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A number of institutional investors and hedge funds have recently bought and sold shares of SPN. BlackRock Inc. raised its stake in Superior Energy Services by 10,301.4% in the 1st quarter. BlackRock Inc. now owns 23,424,814 shares of the oil and gas company’s stock valued at $334,036,000 after acquiring an additional 23,199,606 shares during the period. Victory Capital Management Inc. raised its stake in Superior Energy Services by 89.8% in the 3rd quarter. Victory Capital Management Inc. now owns 7,575,774 shares of the oil and gas company’s stock valued at $135,607,000 after acquiring an additional 3,583,598 shares during the period. Systematic Financial Management LP raised its stake in Superior Energy Services by 1,921.6% in the 2nd quarter. Systematic Financial Management LP now owns 3,263,220 shares of the oil and gas company’s stock valued at $60,075,000 after acquiring an additional 3,101,805 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in Superior Energy Services by 221.9% in the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 4,285,600 shares of the oil and gas company’s stock valued at $44,699,000 after acquiring an additional 2,954,100 shares during the period. Finally, Balyasny Asset Management LLC raised its stake in Superior Energy Services by 535.0% in the 2nd quarter. Balyasny Asset Management LLC now owns 3,008,663 shares of the oil and gas company’s stock valued at $31,380,000 after acquiring an additional 2,534,833 shares during the period.
About Superior Energy Services
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