Superior Energy Services Inc. (SPN) Trading 2.4% Higher
Shares of Superior Energy Services Inc. (NYSE:SPN) traded up 2.4% during mid-day trading on Thursday . The company traded as high as $18.22 and last traded at $17.79, with a volume of 1,704,286 shares. The stock had previously closed at $17.37.
A number of analysts have recently issued reports on the company. Deutsche Bank AG reiterated a “buy” rating and set a $22.00 target price (up previously from $20.00) on shares of Superior Energy Services in a report on Wednesday, June 8th. Scotiabank restated a “focus stock” rating and issued a $27.00 price target (up previously from $21.00) on shares of Superior Energy Services in a report on Friday, June 17th. Royal Bank Of Canada restated a “hold” rating on shares of Superior Energy Services in a report on Saturday, June 18th. Howard Weil upped their price target on Superior Energy Services from $21.00 to $27.00 and gave the stock a “focus stock” rating in a report on Thursday, June 16th. Finally, Zacks Investment Research upgraded Superior Energy Services from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Superior Energy Services presently has an average rating of “Buy” and a consensus price target of $16.76.
The stock’s market capitalization is $2.66 billion. The firm’s 50-day moving average is $17.87 and its 200 day moving average is $13.78.
Superior Energy Services (NYSE:SPN) last announced its quarterly earnings data on Thursday, April 28th. The company reported ($0.49) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.59) by $0.10. The firm had revenue of $413.10 million for the quarter, compared to analyst estimates of $453.70 million. During the same period in the previous year, the business posted ($0.01) EPS. Superior Energy Services’s revenue for the quarter was down 55.0% compared to the same quarter last year. Equities analysts forecast that Superior Energy Services Inc. will post ($2.11) EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in SPN. Liberty Mutual Group Asset Management Inc. raised its stake in shares of Superior Energy Services by 49.0% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 95,598 shares of the company’s stock valued at $1,288,000 after buying an additional 31,442 shares during the last quarter. Janus Capital Management bought a new position in Superior Energy Services during the third quarter valued at approximately $1,478,000. Sei Investments Co. increased its position in Superior Energy Services by 7,155.9% in the fourth quarter. Sei Investments Co. now owns 157,743 shares of the company’s stock valued at $2,125,000 after buying an additional 155,569 shares during the period. Robeco Institutional Asset Management B.V. increased its position in Superior Energy Services by 85.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 182,916 shares of the company’s stock valued at $2,464,000 after buying an additional 84,089 shares during the period. Finally, Retirement Systems of Alabama increased its position in Superior Energy Services by 1.3% in the fourth quarter. Retirement Systems of Alabama now owns 193,689 shares of the company’s stock valued at $2,609,000 after buying an additional 2,514 shares during the period.
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