An issue of Superior Energy Services, Inc. (NYSE:SPN) debt rose 1.1% as a percentage of its face value during trading on Wednesday. The debt issue has a 7.125% coupon and is set to mature on December 15, 2021. The debt is now trading at $92.37 and was trading at $91.00 one week ago. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its share price.
SPN has been the subject of several research reports. Raymond James cut shares of Superior Energy Services from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, December 13th. Zacks Investment Research raised shares of Superior Energy Services from a “sell” rating to a “hold” rating in a research report on Wednesday, February 13th. Piper Jaffray Companies set a $8.00 price target on shares of Superior Energy Services and gave the stock a “buy” rating in a research report on Tuesday, February 19th. Wells Fargo & Co cut shares of Superior Energy Services from an “outperform” rating to a “market perform” rating in a research report on Monday, January 7th. Finally, JPMorgan Chase & Co. cut shares of Superior Energy Services from a “neutral” rating to an “underweight” rating in a research report on Tuesday, December 11th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $8.67.
Shares of NYSE SPN traded up $0.19 during trading hours on Wednesday, hitting $4.91. 2,047,124 shares of the stock were exchanged, compared to its average volume of 3,115,459. The company has a quick ratio of 1.80, a current ratio of 2.13 and a debt-to-equity ratio of 4.41. The firm has a market cap of $743.79 million, a PE ratio of -5.46 and a beta of 2.35. Superior Energy Services, Inc. has a 12 month low of $2.87 and a 12 month high of $12.73.
In related news, Director James M. Funk purchased 10,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were acquired at an average price of $4.29 per share, for a total transaction of $42,900.00. Following the purchase, the director now owns 32,179 shares of the company’s stock, valued at approximately $138,047.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.81% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Quantamental Technologies LLC acquired a new position in Superior Energy Services during the 4th quarter valued at approximately $25,000. Advisor Partners LLC acquired a new position in Superior Energy Services during the 4th quarter valued at approximately $42,000. Shelton Capital Management acquired a new position in Superior Energy Services during the 4th quarter valued at approximately $52,000. CIBC Asset Management Inc acquired a new position in Superior Energy Services during the 4th quarter valued at approximately $67,000. Finally, CWM Advisors LLC increased its stake in Superior Energy Services by 116.8% during the 4th quarter. CWM Advisors LLC now owns 24,818 shares of the oil and gas company’s stock valued at $83,000 after purchasing an additional 13,371 shares in the last quarter.
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About Superior Energy Services (NYSE:SPN)
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.
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