Superior Energy Services (SPN) Downgraded by Cowen to Market Perform

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Cowen lowered shares of Superior Energy Services (NYSE:SPN) from an outperform rating to a market perform rating in a research report released on Thursday morning, Marketbeat.com reports.

Other equities analysts have also issued research reports about the stock. Credit Suisse Group lowered shares of Superior Energy Services from an outperform rating to a neutral rating and dropped their price target for the company from $10.00 to $4.50 in a research report on Wednesday, December 19th. Barclays set a $10.00 price target on shares of Superior Energy Services and gave the company a hold rating in a research report on Wednesday, October 24th. Seaport Global Securities set a $11.00 price target on shares of Superior Energy Services and gave the company a buy rating in a research report on Wednesday, October 24th. Piper Jaffray Companies set a $9.00 price target on shares of Superior Energy Services and gave the company a buy rating in a research report on Tuesday, October 23rd. Finally, Bank of America began coverage on shares of Superior Energy Services in a research report on Wednesday, October 17th. They issued a neutral rating on the stock. Seven investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $8.90.

Shares of SPN traded up $0.08 during midday trading on Thursday, hitting $4.00. The stock had a trading volume of 2,727,736 shares, compared to its average volume of 3,425,415. Superior Energy Services has a fifty-two week low of $2.87 and a fifty-two week high of $12.73. The stock has a market cap of $604.21 million, a price-to-earnings ratio of -2.42 and a beta of 2.38. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.03 and a quick ratio of 1.65.

Superior Energy Services (NYSE:SPN) last issued its quarterly earnings data on Monday, October 22nd. The oil and gas company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The business had revenue of $573.07 million for the quarter, compared to the consensus estimate of $563.47 million. Superior Energy Services had a negative net margin of 4.76% and a negative return on equity of 14.06%. Superior Energy Services’s revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.33) EPS. Analysts anticipate that Superior Energy Services will post -0.92 earnings per share for the current year.

In other Superior Energy Services news, CFO Westervelt T. Ballard, Jr. purchased 4,000 shares of the firm’s stock in a transaction on Wednesday, October 24th. The shares were purchased at an average price of $7.68 per share, for a total transaction of $30,720.00. Following the completion of the purchase, the chief financial officer now directly owns 88,004 shares of the company’s stock, valued at $675,870.72. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Brian K. Moore purchased 70,000 shares of the firm’s stock in a transaction on Thursday, December 13th. The shares were acquired at an average price of $4.01 per share, for a total transaction of $280,700.00. Following the purchase, the insider now directly owns 398,074 shares of the company’s stock, valued at $1,596,276.74. The disclosure for this purchase can be found here. Insiders have acquired 139,000 shares of company stock worth $596,420 in the last quarter. Corporate insiders own 3.81% of the company’s stock.

Several large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its stake in shares of Superior Energy Services by 2,156.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 27,415 shares of the oil and gas company’s stock valued at $92,000 after purchasing an additional 26,200 shares in the last quarter. Virtu Financial LLC boosted its stake in shares of Superior Energy Services by 42.1% in the 4th quarter. Virtu Financial LLC now owns 27,821 shares of the oil and gas company’s stock valued at $93,000 after purchasing an additional 8,237 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Superior Energy Services by 37.1% in the 4th quarter. Louisiana State Employees Retirement System now owns 58,000 shares of the oil and gas company’s stock valued at $194,000 after purchasing an additional 15,700 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Superior Energy Services in the 4th quarter valued at $172,000. Finally, Cerebellum GP LLC boosted its stake in shares of Superior Energy Services by 343.7% in the 4th quarter. Cerebellum GP LLC now owns 78,581 shares of the oil and gas company’s stock valued at $263,000 after purchasing an additional 60,869 shares in the last quarter.

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.

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Analyst Recommendations for Superior Energy Services (NYSE:SPN)

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