Insider Buying: Superior Energy Services, Inc. (SPN) Director Buys 20,000 Shares of Stock
Superior Energy Services, Inc. (NYSE:SPN) Director Peter D. Kinnear acquired 20,000 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was purchased at an average price of $8.52 per share, with a total value of $170,400.00. Following the purchase, the director now owns 64,607 shares in the company, valued at approximately $550,451.64. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.
Superior Energy Services, Inc. (SPN) traded up 2.53% on Monday, reaching $8.50. 6,694,501 shares of the company were exchanged. Superior Energy Services, Inc. has a 12-month low of $7.66 and a 12-month high of $19.28. The firm has a 50-day moving average of $9.84 and a 200 day moving average of $10.42. The firm’s market capitalization is $1.30 billion.
Superior Energy Services (NYSE:SPN) last issued its quarterly earnings data on Monday, October 23rd. The oil and gas company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.01). Superior Energy Services had a negative net margin of 24.59% and a negative return on equity of 26.18%. The company had revenue of $506.00 million for the quarter, compared to the consensus estimate of $511.23 million. During the same quarter last year, the company earned ($0.73) EPS. The firm’s revenue for the quarter was up 55.1% on a year-over-year basis. On average, equities analysts predict that Superior Energy Services, Inc. will post ($1.62) earnings per share for the current year.
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A number of hedge funds have recently made changes to their positions in SPN. Suntrust Banks Inc. purchased a new stake in Superior Energy Services during the second quarter valued at approximately $108,000. Washington Trust Bank increased its holdings in Superior Energy Services by 10.1% during the second 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. purchased a new stake in Superior Energy Services during the second quarter valued at approximately $116,000. Oakbrook Investments LLC purchased a new stake in Superior Energy Services during the second quarter valued at approximately $118,000. Finally, Endurance Wealth Management Inc. increased its holdings in Superior Energy Services by 4.9% during the second 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.
Several equities research analysts have commented on SPN shares. Barclays PLC lowered shares of Superior Energy Services from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $18.00 to $11.00 in a research note on Wednesday, July 12th. ValuEngine lowered shares of Superior Energy Services from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Deutsche Bank AG reiterated a “buy” rating and issued a $15.00 price objective (down previously from $22.00) on shares of Superior Energy Services in a research note on Thursday, July 27th. BidaskClub lowered shares of Superior Energy Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Seaport Global Securities reiterated a “neutral” rating on shares of Superior Energy Services in a research note on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $13.82.
Superior Energy Services Company Profile
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