Superior Energy Services (SPN) Stock Price Down 6.8%

Superior Energy Services, Inc. (NYSE:SPN) shares were down 6.8% on Wednesday . The stock traded as low as $1.74 and last traded at $1.78. Approximately 4,037,349 shares changed hands during trading, an increase of 11% from the average daily volume of 3,629,716 shares. The stock had previously closed at $1.91.

Several research analysts have weighed in on SPN shares. Raymond James set a $8.00 target price on Superior Energy Services and gave the stock a “buy” rating in a report on Wednesday, April 17th. Zacks Investment Research upgraded Superior Energy Services from a “hold” rating to a “buy” rating and set a $5.75 target price on the stock in a report on Wednesday, April 10th. Piper Jaffray Companies set a $8.00 target price on Superior Energy Services and gave the stock a “buy” rating in a report on Tuesday, February 19th. ValuEngine upgraded Superior Energy Services from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Finally, Gabelli lowered Superior Energy Services from a “buy” rating to a “hold” rating and set a $8.00 target price on the stock. in a report on Thursday, April 25th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $7.92.

The company has a market cap of $277.60 million, a PE ratio of -1.80 and a beta of 2.22. The company has a debt-to-equity ratio of 5.18, a current ratio of 2.12 and a quick ratio of 1.76.

Superior Energy Services (NYSE:SPN) last released its quarterly earnings results on Tuesday, April 23rd. The oil and gas company reported ($0.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.07). The firm had revenue of $467.20 million during the quarter, compared to analyst estimates of $495.35 million. Superior Energy Services had a negative net margin of 40.00% and a negative return on equity of 19.11%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.34) EPS. As a group, equities research analysts anticipate that Superior Energy Services, Inc. will post -0.82 earnings per share for the current year.

In related news, Director James M. Funk bought 10,000 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were acquired at an average price of $4.29 per share, with a total value of $42,900.00. Following the completion of the transaction, the director now owns 32,179 shares in the company, valued at $138,047.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.02% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Marshall Wace North America L.P. acquired a new position in Superior Energy Services during the first quarter worth approximately $131,000. Marshall Wace LLP acquired a new position in Superior Energy Services during the first quarter worth approximately $404,000. Lombard Odier Asset Management USA Corp acquired a new position in Superior Energy Services during the first quarter worth approximately $2,100,000. FMR LLC increased its position in Superior Energy Services by 11.8% during the first quarter. FMR LLC now owns 482,032 shares of the oil and gas company’s stock worth $2,251,000 after buying an additional 50,899 shares during the last quarter. Finally, BlueMountain Capital Management LLC increased its position in Superior Energy Services by 253.8% during the first quarter. BlueMountain Capital Management LLC now owns 253,825 shares of the oil and gas company’s stock worth $1,185,000 after buying an additional 182,075 shares during the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

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Superior Energy Services Company Profile (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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