Superior Energy Services (SPN) Upgraded to “Positive” at Susquehanna Bancshares

Superior Energy Services (NYSE:SPN) was upgraded by analysts at Susquehanna Bancshares from a “neutral” rating to a “positive” rating in a research note issued on Friday, MarketBeat reports. The brokerage currently has a $15.00 price objective on the oil and gas company’s stock, up from their previous price objective of $9.00. Susquehanna Bancshares’ price target would suggest a potential upside of 35.75% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Co cut shares of Superior Energy Services from an “outperform” rating to a “market perform” rating in a research note on Monday, October 16th. Piper Jaffray Companies restated a “buy” rating on shares of Superior Energy Services in a research note on Tuesday, September 26th. Royal Bank of Canada set a $12.00 price objective on shares of Superior Energy Services and gave the company a “hold” rating in a research note on Wednesday, October 25th. Jefferies Group set a $10.00 price objective on shares of Superior Energy Services and gave the company a “hold” rating in a research note on Thursday. Finally, Barclays set a $10.00 price objective on shares of Superior Energy Services and gave the company a “hold” rating in a research note on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company. Superior Energy Services has an average rating of “Hold” and a consensus price target of $12.65.

Shares of Superior Energy Services (NYSE:SPN) traded up $0.18 during mid-day trading on Friday, hitting $11.05. 3,780,685 shares of the stock were exchanged, compared to its average volume of 2,790,835. Superior Energy Services has a 52 week low of $7.66 and a 52 week high of $19.08. The firm has a market cap of $1,691.57, a PE ratio of -3.93 and a beta of 2.16. The company has a current ratio of 1.99, a quick ratio of 1.64 and a debt-to-equity ratio of 1.15.

Superior Energy Services (NYSE:SPN) last announced its quarterly earnings data on Monday, October 23rd. The oil and gas company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.01). Superior Energy Services had a negative net margin of 24.59% and a negative return on equity of 26.18%. The business had revenue of $506.00 million during the quarter, compared to analyst estimates of $511.23 million. During the same quarter in the prior year, the company posted ($0.73) EPS. The company’s quarterly revenue was up 55.1% compared to the same quarter last year. research analysts forecast that Superior Energy Services will post -1.63 EPS for the current year.

In other news, Director Peter D. Kinnear bought 20,000 shares of the stock in a transaction dated Monday, October 30th. The shares were acquired at an average price of $8.52 per share, with a total value of $170,400.00. Following the acquisition, the director now owns 64,607 shares in the company, valued at $550,451.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.91% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio grew its holdings in shares of Superior Energy Services by 65.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 209,228 shares of the oil and gas company’s stock worth $2,235,000 after purchasing an additional 82,700 shares during the last quarter. GSA Capital Partners LLP grew its holdings in shares of Superior Energy Services by 52.1% in the 3rd quarter. GSA Capital Partners LLP now owns 24,381 shares of the oil and gas company’s stock worth $260,000 after purchasing an additional 8,348 shares during the last quarter. Algert Global LLC bought a new stake in shares of Superior Energy Services in the 3rd quarter worth about $1,911,000. GeoSphere Capital Management bought a new stake in shares of Superior Energy Services in the 3rd quarter worth about $1,497,000. Finally, California Public Employees Retirement System grew its holdings in shares of Superior Energy Services by 7.9% in the 3rd quarter. California Public Employees Retirement System now owns 568,777 shares of the oil and gas company’s stock worth $6,075,000 after purchasing an additional 41,677 shares during the last quarter.

ILLEGAL ACTIVITY WARNING: “Superior Energy Services (SPN) Upgraded to “Positive” at Susquehanna Bancshares” was published by Equities Focus and is the property of of Equities Focus. If you are reading this news story on another publication, it was illegally copied and republished in violation of United States & international copyright law. The legal version of this news story can be viewed at https://www.equitiesfocus.com/2018/01/07/superior-energy-services-spn-upgraded-to-positive-at-susquehanna-bancshares.html.

Superior Energy Services Company Profile

Analyst Recommendations for Superior Energy Services (NYSE:SPN)

Receive News & Ratings for Superior Energy Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Superior Energy Services and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply