Superior Energy Services (SPN) Upgraded at Jefferies Financial Group

Superior Energy Services (NYSE:SPN) was upgraded by equities research analysts at Jefferies Financial Group from an “underperform” rating to a “hold” rating in a report released on Friday, The Fly reports.

A number of other research analysts have also issued reports on the stock. JPMorgan Chase & Co. lowered shares of Superior Energy Services from a “neutral” rating to an “underweight” rating in a research note on Tuesday, December 11th. Raymond James reiterated a “buy” rating and issued a $6.00 target price on shares of Superior Energy Services in a research note on Sunday, January 6th. Credit Suisse Group lowered shares of Superior Energy Services from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $10.00 to $4.50 in a research note on Wednesday, December 19th. Cowen reiterated a “buy” rating and issued a $10.00 target price on shares of Superior Energy Services in a research note on Monday, December 3rd. Finally, Capital One Financial lowered shares of Superior Energy Services from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 16th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company’s stock. Superior Energy Services currently has a consensus rating of “Hold” and an average target price of $8.60.

NYSE:SPN opened at $4.63 on Friday. Superior Energy Services has a 1 year low of $2.87 and a 1 year high of $12.73. The company has a current ratio of 2.13, a quick ratio of 1.80 and a debt-to-equity ratio of 4.41. The firm has a market capitalization of $711.04 million, a P/E ratio of -5.14 and a beta of 2.35.



Superior Energy Services (NYSE:SPN) last posted its earnings results on Monday, February 18th. The oil and gas company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.08. Superior Energy Services had a negative net margin of 40.28% and a negative return on equity of 15.11%. The business had revenue of $539.33 million for the quarter, compared to analyst estimates of $514.64 million. During the same period last year, the business posted ($0.33) EPS. Superior Energy Services’s revenue was up 8.5% compared to the same quarter last year. Research analysts forecast that Superior Energy Services will post -0.77 EPS for the current year.

In related news, Director James M. Funk purchased 10,000 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were bought at an average cost of $4.29 per share, for a total transaction of $42,900.00. Following the transaction, the director now directly owns 32,179 shares of the company’s stock, valued at approximately $138,047.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.81% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of SPN. First Trust Advisors LP grew its position in Superior Energy Services by 5.7% in the 3rd quarter. First Trust Advisors LP now owns 181,120 shares of the oil and gas company’s stock worth $1,764,000 after purchasing an additional 9,837 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Superior Energy Services in the 3rd quarter worth $195,000. SG Americas Securities LLC grew its position in Superior Energy Services by 60.2% in the 3rd quarter. SG Americas Securities LLC now owns 96,807 shares of the oil and gas company’s stock worth $943,000 after purchasing an additional 36,366 shares during the last quarter. Prudential Financial Inc. grew its position in Superior Energy Services by 59.3% in the 3rd quarter. Prudential Financial Inc. now owns 5,937,629 shares of the oil and gas company’s stock worth $57,832,000 after purchasing an additional 2,210,112 shares during the last quarter. Finally, Commonwealth Bank of Australia acquired a new stake in Superior Energy Services in the 3rd quarter worth $489,000.

About Superior Energy Services

Superior Energy Services, Inc provides oilfield services and equipment to oil and natural gas exploration and production companies in the United States, the Gulf of Mexico, and internationally. The company operates in four segments: Drilling Products and Services, Onshore Completion and Workover Services, Production Services, and Technical Solutions.

Read More: Technical Analysis

The Fly

Analyst Recommendations for Superior Energy Services (NYSE:SPN)

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