Superior Energy Services, Inc. (NYSE:SPN)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $9.35, but opened at $9.00. Superior Energy Services shares last traded at $9.19, with a volume of 1,407,814 shares changing hands.

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada set a $20.00 price objective on Superior Energy Services and gave the company a “hold” rating in a research note on Saturday, June 24th. BidaskClub cut Superior Energy Services from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Jefferies Group LLC reiterated a “hold” rating and issued a $14.00 price objective on shares of Superior Energy Services in a research note on Friday, July 14th. ValuEngine cut Superior Energy Services from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Finally, Seaport Global Securities cut Superior Energy Services from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $13.00 to $10.00 in a research note on Wednesday, June 21st. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $16.33.

The stock’s market capitalization is $1.42 billion. The firm’s 50 day moving average price is $9.54 and its 200 day moving average price is $11.69.

Superior Energy Services (NYSE:SPN) last released its earnings results on Tuesday, July 25th. The oil and gas company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.07. Superior Energy Services had a negative return on equity of 28.82% and a negative net margin of 31.24%. The company had revenue of $470.07 million for the quarter, compared to the consensus estimate of $465.75 million. During the same quarter last year, the business posted ($3.09) EPS. Superior Energy Services’s quarterly revenue was up 31.9% compared to the same quarter last year. On average, equities analysts expect that Superior Energy Services, Inc. will post ($1.57) EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. Contrarius Investment Management Ltd bought a new position in Superior Energy Services during the 2nd quarter worth approximately $3,279,000. State of Tennessee Treasury Department lifted its holdings in Superior Energy Services by 66.7% during the 1st quarter. State of Tennessee Treasury Department now owns 150,000 shares of the oil and gas company’s stock worth $2,139,000 after buying an additional 60,000 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in Superior Energy Services by 1.2% during the 2nd quarter. Pzena Investment Management LLC now owns 3,998,348 shares of the oil and gas company’s stock worth $41,703,000 after buying an additional 48,531 shares during the last quarter. Liberty Mutual Group Asset Management Inc. lifted its holdings in Superior Energy Services by 1.8% during the 1st quarter. Liberty Mutual Group Asset Management Inc. now owns 68,737 shares of the oil and gas company’s stock worth $980,000 after buying an additional 1,192 shares during the last quarter. Finally, Virginia Retirement Systems ET AL lifted its holdings in Superior Energy Services by 16.4% during the 1st quarter. Virginia Retirement Systems ET AL now owns 28,051 shares of the oil and gas company’s stock worth $400,000 after buying an additional 3,951 shares during the last quarter.

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About Superior Energy Services

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