Superior Energy Services (NYSE:SPN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday.

According to Zacks, “Superior Energy Services, Inc. serves the drilling, completion and production-related needs of oil and gas companies worldwide through a diversified portfolio of specialized oilfield services and equipment that are used throughout the economic life cycle of oil and gas wells. The world’s energy producers rely on us for the services, tools, equipment and exceptionally trained personnel needed to develop and produce oil and gas. Superior Energy has a history of developing specialized tools and technologies designed to meet customer needs. In its earliest days, the company pioneered the use of rigless plugging and abandonment services. Since then, Superior has been on the leading edge of a number of developments that benefit oil and gas producers throughout the life cycle of the well. “

Several other analysts have also recently weighed in on the stock. Royal Bank of Canada set a $10.00 price target on shares of Superior Energy Services and gave the company a “hold” rating in a report on Thursday, December 21st. Credit Suisse Group cut their price target on shares of Superior Energy Services from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Wednesday, October 25th. SunTrust Banks upgraded shares of Superior Energy Services from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Monday, November 20th. Scotiabank reiterated a “buy” rating on shares of Superior Energy Services in a report on Friday, October 27th. Finally, Deutsche Bank started coverage on shares of Superior Energy Services in a report on Tuesday, October 10th. They issued a “buy” rating and a $15.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $12.65.

Shares of Superior Energy Services (SPN) opened at $11.05 on Friday. The firm has a market cap of $1,690.00, a price-to-earnings ratio of -4.49 and a beta of 2.16. Superior Energy Services has a fifty-two week low of $7.66 and a fifty-two week high of $19.08. The company has a quick ratio of 1.64, a current ratio of 1.99 and a debt-to-equity ratio of 1.15.

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

In other Superior Energy Services news, Director Peter D. Kinnear bought 20,000 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were purchased at an average price of $8.52 per share, for a total transaction of $170,400.00. Following the acquisition, 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 available at this link. Insiders own 2.91% of the company’s stock.

A number of institutional investors have recently made changes to their positions in SPN. Summit Financial Wealth Advisors LLC bought a new position in Superior Energy Services in the 3rd quarter worth about $107,000. Suntrust Banks Inc. bought a new position in Superior Energy Services in the 2nd quarter worth about $108,000. Nomura Holdings Inc. bought a new position in Superior Energy Services in the 2nd quarter worth about $116,000. Crossmark Global Holdings Inc. bought a new position in Superior Energy Services in the 3rd quarter worth about $126,000. Finally, PEAK6 Investments L.P. boosted its stake in Superior Energy Services by 149.0% in the 3rd quarter. PEAK6 Investments L.P. now owns 12,704 shares of the oil and gas company’s stock worth $136,000 after purchasing an additional 38,640 shares in the last quarter.

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