Short Interest in Superior Energy Services, Inc. (NYSE:SPN) Expands By 7.4%

Superior Energy Services, Inc. (NYSE:SPN) saw a large increase in short interest in July. As of July 31st, there was short interest totalling 12,454,100 shares, an increase of 7.4% from the June 30th total of 11,592,300 shares. Currently, 8.2% of the shares of the stock are sold short. Based on an average daily volume of 4,190,000 shares, the short-interest ratio is currently 3.0 days.

SPN stock remained flat at $$0.45 during mid-day trading on Friday. 12,960 shares of the company’s stock were exchanged, compared to its average volume of 4,343,430. The company has a debt-to-equity ratio of 7.56, a quick ratio of 2.07 and a current ratio of 2.48. Superior Energy Services has a 52 week low of $0.43 and a 52 week high of $11.14. The stock has a market capitalization of $82.98 million, a P/E ratio of -0.50 and a beta of 2.29. The stock has a 50-day moving average of $0.92 and a two-hundred day moving average of $2.93.

Superior Energy Services (NYSE:SPN) last posted its quarterly earnings data on Tuesday, July 23rd. The oil and gas company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.06). Superior Energy Services had a negative net margin of 44.19% and a negative return on equity of 33.30%. The firm had revenue of $436.32 million for the quarter, compared to analysts’ expectations of $466.52 million. During the same period in the prior year, the company posted ($0.16) earnings per share. Research analysts forecast that Superior Energy Services will post -0.97 earnings per share for the current year.



In other Superior Energy Services news, Director James M. Funk acquired 50,000 shares of Superior Energy Services stock in a transaction dated Friday, July 26th. The stock was bought at an average price of $0.83 per share, for a total transaction of $41,500.00. Following the transaction, the director now owns 82,179 shares in the company, valued at approximately $68,208.57. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.02% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Arizona State Retirement System lifted its stake in Superior Energy Services by 1.1% during the first quarter. Arizona State Retirement System now owns 240,546 shares of the oil and gas company’s stock valued at $1,123,000 after buying an additional 2,572 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Superior Energy Services by 15.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 35,289 shares of the oil and gas company’s stock worth $165,000 after purchasing an additional 4,616 shares in the last quarter. Texas Permanent School Fund lifted its position in shares of Superior Energy Services by 4.7% in the first quarter. Texas Permanent School Fund now owns 105,875 shares of the oil and gas company’s stock worth $494,000 after purchasing an additional 4,752 shares in the last quarter. Comerica Bank lifted its position in shares of Superior Energy Services by 3.2% in the first quarter. Comerica Bank now owns 157,186 shares of the oil and gas company’s stock worth $789,000 after purchasing an additional 4,904 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Superior Energy Services by 1,609.3% in the first quarter. Versant Capital Management Inc now owns 6,427 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 6,051 shares in the last quarter. 96.41% of the stock is owned by institutional investors.

Several equities analysts have recently weighed in on SPN shares. Scotiabank lowered shares of Superior Energy Services from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, June 5th. Piper Jaffray Companies lowered shares of Superior Energy Services from an “overweight” rating to a “neutral” rating and set a $1.00 price objective for the company. in a research report on Friday, July 26th. ValuEngine upgraded shares of Superior Energy Services from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Bank of America restated an “underperform” rating and set a $1.25 price objective (down previously from $4.50) on shares of Superior Energy Services in a research report on Tuesday, June 25th. Finally, Gabelli lowered shares of Superior Energy Services from a “buy” rating to a “hold” rating and set a $8.00 price objective for the company. in a research report on Thursday, April 25th. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $5.53.

Superior Energy Services Company Profile

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.

Further Reading: Gross Domestic Product (GDP)

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