Superior Energy Services (NYSE:SPN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm presently has a $11.00 target price on the oil and gas company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 1.20% from the stock’s current price.
According to Zacks, “Superior Energy Services, Inc. serves the drilling, completion and production-related needs of oil and gas companies worldwide through a diversified portfolio of specialized oilfield services and equipment that are used throughout the economic life cycle of oil and gas wells. The world’s energy producers rely on us for the services, tools, equipment and exceptionally trained personnel needed to develop and produce oil and gas. Superior Energy has a history of developing specialized tools and technologies designed to meet customer needs. In its earliest days, the company pioneered the use of rigless plugging and abandonment services. Since then, Superior has been on the leading edge of a number of developments that benefit oil and gas producers throughout the life cycle of the well. “
A number of other research firms have also recently issued reports on SPN. Cowen set a $14.00 price objective on Superior Energy Services and gave the company a “buy” rating in a research report on Friday, October 6th. Loop Capital set a $13.00 price target on Superior Energy Services and gave the stock a “buy” rating in a research report on Wednesday, October 25th. They noted that the move was a valuation call. Royal Bank of Canada set a $10.00 price target on Superior Energy Services and gave the stock a “hold” rating in a research report on Thursday, December 21st. ValuEngine cut Superior Energy Services from a “sell” rating to a “strong sell” rating in a research report on Sunday. Finally, BMO Capital Markets set a $9.00 price target on Superior Energy Services and gave the stock a “hold” rating in a research report on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $12.50.
Superior Energy Services (NYSE:SPN) last released 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). The firm had revenue of $506.00 million for the quarter, compared to analyst estimates of $511.23 million. Superior Energy Services had a negative net margin of 24.59% and a negative return on equity of 26.18%. Superior Energy Services’s revenue for the quarter was up 55.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.73) EPS. research analysts forecast that Superior Energy Services will post -1.63 earnings per share for the current year.
In other Superior Energy Services news, Director Peter D. Kinnear acquired 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was acquired at an average price of $8.52 per share, with a total value of $170,400.00. Following the transaction, the director now owns 64,607 shares of the company’s stock, valued at $550,451.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.91% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of SPN. Arizona State Retirement System increased its stake in Superior Energy Services by 1.3% during the second quarter. Arizona State Retirement System now owns 64,400 shares of the oil and gas company’s stock valued at $672,000 after acquiring an additional 800 shares during the period. Comerica Bank increased its stake in Superior Energy Services by 0.8% during the second quarter. Comerica Bank now owns 130,803 shares of the oil and gas company’s stock valued at $1,366,000 after acquiring an additional 992 shares during the period. Neuberger Berman Group LLC increased its stake in Superior Energy Services by 8.1% during the second quarter. Neuberger Berman Group LLC now owns 17,109 shares of the oil and gas company’s stock valued at $178,000 after acquiring an additional 1,289 shares during the period. Broadview Advisors LLC increased its stake in Superior Energy Services by 0.6% during the second quarter. Broadview Advisors LLC now owns 266,924 shares of the oil and gas company’s stock valued at $2,784,000 after acquiring an additional 1,700 shares during the period. Finally, Thrivent Financial For Lutherans increased its stake in Superior Energy Services by 8.7% during the second quarter. Thrivent Financial For Lutherans now owns 30,970 shares of the oil and gas company’s stock valued at $323,000 after acquiring an additional 2,480 shares during the period.
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Superior Energy Services Company Profile
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