Superior Energy Services (SPN) Raised to “Positive” at UBS Group

Superior Energy Services (NYSE:SPN) was upgraded by equities research analysts at UBS Group from a “neutral” rating to a “positive” rating in a note issued to investors on Friday, The Fly reports.

A number of other equities analysts have also issued reports on the stock. Jefferies Group set a $10.00 price target on shares of Superior Energy Services and gave the stock a “hold” rating in a research report on Thursday. Zacks Investment Research raised shares of Superior Energy Services from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Tuesday. ValuEngine lowered shares of Superior Energy Services from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Royal Bank of Canada set a $10.00 price target on shares of Superior Energy Services and gave the stock a “hold” rating in a research report on Thursday, December 21st. Finally, SunTrust Banks raised shares of Superior Energy Services from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Monday, November 20th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the stock. Superior Energy Services has an average rating of “Hold” and an average price target of $12.50.

Superior Energy Services (NYSE:SPN) opened at $10.87 on Friday. Superior Energy Services has a 1 year low of $7.66 and a 1 year high of $19.08. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.64 and a current ratio of 1.99. The stock has a market cap of $1,621.15, a P/E ratio of -3.87 and a beta of 2.16.

Superior Energy Services (NYSE:SPN) last posted its quarterly earnings results on Monday, October 23rd. The oil and gas company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.01). Superior Energy Services had a negative return on equity of 26.18% and a negative net margin of 24.59%. The business had revenue of $506.00 million for the quarter, compared to analysts’ expectations of $511.23 million. During the same period in the prior year, the business posted ($0.73) earnings per share. The business’s quarterly revenue was up 55.1% compared to the same quarter last year. equities analysts predict that Superior Energy Services will post -1.63 earnings per share for the current fiscal year.

In other news, Director Peter D. Kinnear bought 20,000 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was purchased at an average cost of $8.52 per share, with a total value of $170,400.00. Following the acquisition, the director now directly owns 64,607 shares in the company, valued at $550,451.64. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.91% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of SPN. Schwab Charles Investment Management Inc. increased its holdings in Superior Energy Services by 40.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 771,614 shares of the oil and gas company’s stock worth $8,048,000 after acquiring an additional 221,799 shares in the last quarter. Rhumbline Advisers increased its holdings in Superior Energy Services by 14.6% in the 2nd quarter. Rhumbline Advisers now owns 322,557 shares of the oil and gas company’s stock worth $3,364,000 after acquiring an additional 41,064 shares in the last quarter. Comerica Bank increased its holdings in Superior Energy Services by 0.8% in the 2nd quarter. Comerica Bank now owns 130,803 shares of the oil and gas company’s stock worth $1,366,000 after acquiring an additional 992 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Superior Energy Services by 96.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 86,641 shares of the oil and gas company’s stock worth $904,000 after acquiring an additional 42,596 shares in the last quarter. Finally, Federated Investors Inc. PA increased its holdings in Superior Energy Services by 4.9% in the 2nd quarter. Federated Investors Inc. PA now owns 147,684 shares of the oil and gas company’s stock worth $1,540,000 after acquiring an additional 6,862 shares in the last quarter.

ILLEGAL ACTIVITY WARNING: “Superior Energy Services (SPN) Raised to “Positive” at UBS Group” was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another publication, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be viewed at https://www.americanbankingnews.com/2018/01/05/superior-energy-services-spn-raised-to-positive-at-ubs-group.html.

About Superior Energy Services

The Fly

Analyst Recommendations for Superior Energy Services (NYSE:SPN)

Receive News & Ratings for Superior Energy Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Superior Energy Services and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply