Superior Energy Services, Inc. (SPN) Given Average Recommendation of “Hold” by Brokerages
Superior Energy Services, Inc. (NYSE:SPN) has been given an average rating of “Hold” by the twenty-four analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $16.47.
SPN has been the subject of a number of research analyst reports. Royal Bank Of Canada set a $20.00 target price on shares of Superior Energy Services and gave the stock a “hold” rating in a research note on Saturday, June 24th. Guggenheim lowered shares of Superior Energy Services from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 27th. Loop Capital reissued a “buy” rating on shares of Superior Energy Services in a research report on Monday, July 3rd. BidaskClub raised shares of Superior Energy Services from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Barclays PLC cut shares of Superior Energy Services from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $18.00 to $11.00 in a research report on Wednesday, July 12th.
Shares of Superior Energy Services (NYSE:SPN) traded down 0.56% during mid-day trading on Friday, hitting $8.85. The company had a trading volume of 3,344,038 shares. The firm’s 50-day moving average price is $10.00 and its 200 day moving average price is $10.65. Superior Energy Services has a one year low of $7.91 and a one year high of $19.39. The company’s market capitalization is $1.35 billion.
Superior Energy Services (NYSE:SPN) last announced its earnings results on Tuesday, July 25th. The oil and gas company reported ($0.41) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.07. The firm had revenue of $470.07 million during the quarter, compared to analyst estimates of $465.75 million. Superior Energy Services had a negative net margin of 31.24% and a negative return on equity of 28.82%. The company’s revenue for the quarter was up 31.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($3.09) EPS. Analysts predict that Superior Energy Services will post ($1.59) earnings per share for the current fiscal year.
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A number of institutional investors and hedge funds have recently made changes to their positions in SPN. Suntrust Banks Inc. acquired a new position in Superior Energy Services in the 2nd quarter valued at about $108,000. Washington Trust Bank grew its stake in Superior Energy Services by 10.1% in the 2nd quarter. Washington Trust Bank now owns 10,800 shares of the oil and gas company’s stock valued at $113,000 after buying an additional 990 shares during the last quarter. Nomura Holdings Inc. acquired a new position in Superior Energy Services in the 2nd quarter valued at about $116,000. Oakbrook Investments LLC acquired a new position in Superior Energy Services in the 2nd quarter valued at about $118,000. Finally, Endurance Wealth Management Inc. grew its stake in Superior Energy Services by 4.9% in the 2nd quarter. Endurance Wealth Management Inc. now owns 11,565 shares of the oil and gas company’s stock valued at $121,000 after buying an additional 539 shares during the last quarter.
About Superior Energy Services
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