Superior Energy Services Inc. (SPN) Trading 5% Higher
Shares of Superior Energy Services Inc. (NYSE:SPN) traded up 5% on Thursday . The stock traded as high as $18.50 and last traded at $18.36, with a volume of 815,970 shares. The stock had previously closed at $17.49.
Several analysts have recently weighed in on the stock. Imperial Capital dropped their price objective on shares of Superior Energy Services from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Royal Bank Of Canada raised their price target on shares of Superior Energy Services from $18.00 to $20.00 and gave the company a “sector perform” rating in a report on Thursday, June 16th. Scotiabank reissued 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. Morgan Stanley raised their price target on shares of Superior Energy Services from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, May 3rd. Finally, Credit Suisse Group AG lowered shares of Superior Energy Services from an “outperform” rating to a “neutral” rating and raised their price target for the company from $12.00 to $16.00 in a report on Wednesday, June 1st. Eight analysts have rated the stock with a hold rating, twenty have assigned a buy rating and four have given a strong buy rating to the company’s stock. Superior Energy Services presently has an average rating of “Buy” and a consensus target price of $16.94.
The firm has a 50-day moving average of $17.17 and a 200-day moving average of $15.04. The stock’s market cap is $2.76 billion.
Superior Energy Services (NYSE:SPN) last posted its quarterly earnings data on Monday, July 25th. The company reported ($0.53) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.58) by $0.05. The firm had revenue of $356.30 million for the quarter, compared to analyst estimates of $367.73 million. During the same quarter last year, the company earned ($0.31) earnings per share. The company’s quarterly revenue was down 49.9% compared to the same quarter last year. Equities research analysts predict that Superior Energy Services Inc. will post ($2.12) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Superior Energy Services stock. BlackRock Advisors LLC boosted its stake in Superior Energy Services Inc. (NYSE:SPN) by 3.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 4,170,323 shares of the company’s stock after buying an additional 132,200 shares during the period. BlackRock Advisors LLC owned approximately 2.77% of Superior Energy Services worth $56,174,000 at the end of the most recent reporting period.
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