Superior Energy Services (SPN) Lowered to “Underperform” at Jefferies Financial Group

Jefferies Financial Group lowered shares of Superior Energy Services (NYSE:SPN) from a hold rating to an underperform rating in a research report sent to investors on Thursday morning, Marketbeat reports. Jefferies Financial Group currently has $3.00 price objective on the oil and gas company’s stock, down from their prior price objective of $4.50.

Several other research analysts also recently commented on the company. JPMorgan Chase & Co. downgraded Superior Energy Services from a neutral rating to an underweight rating in a research note on Tuesday, December 11th. BMO Capital Markets decreased their price objective on Superior Energy Services from $11.00 to $10.00 and set a hold rating on the stock in a research note on Wednesday, October 24th. Seaport Global Securities set a $11.00 price objective on Superior Energy Services and gave the stock a buy rating in a research note on Wednesday, October 24th. Cleveland Research downgraded Superior Energy Services from a buy rating to a neutral rating in a research note on Thursday, October 18th. Finally, Cowen reaffirmed a buy rating and issued a $10.00 price objective on shares of Superior Energy Services in a research note on Monday, December 3rd. Seven analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $8.90.

NYSE:SPN traded down $0.04 on Thursday, hitting $4.01. The stock had a trading volume of 1,279,189 shares, compared to its average volume of 3,659,561. The stock has a market capitalization of $662.93 million, a price-to-earnings ratio of -2.43 and a beta of 2.38. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.65 and a current ratio of 2.03. Superior Energy Services has a 52-week low of $2.87 and a 52-week high of $12.73.

Superior Energy Services (NYSE:SPN) last posted its quarterly earnings data on Monday, October 22nd. The oil and gas company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.02). Superior Energy Services had a negative return on equity of 14.06% and a negative net margin of 4.76%. The company had revenue of $573.07 million during the quarter, compared to the consensus estimate of $563.47 million. During the same period last year, the business earned ($0.33) EPS. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. As a group, equities analysts forecast that Superior Energy Services will post -0.92 earnings per share for the current fiscal year.

In related news, Director James M. Funk bought 5,000 shares of the company’s stock in a transaction dated Thursday, November 1st. The stock was purchased at an average price of $7.98 per share, for a total transaction of $39,900.00. Following the acquisition, the director now owns 16,961 shares in the company, valued at $135,348.78. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Westervelt T. Ballard, Jr. bought 4,000 shares of the company’s stock in a transaction dated Wednesday, October 24th. The stock was bought at an average price of $7.68 per share, with a total value of $30,720.00. Following the acquisition, the chief financial officer now owns 88,004 shares in the company, valued at approximately $675,870.72. The disclosure for this purchase can be found here. Insiders have purchased a total of 139,000 shares of company stock worth $596,420 in the last three months. 3.81% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in SPN. Prudential Financial Inc. boosted its holdings in shares of Superior Energy Services by 59.3% in the 3rd quarter. Prudential Financial Inc. now owns 5,937,629 shares of the oil and gas company’s stock worth $57,832,000 after purchasing an additional 2,210,112 shares during the period. Federated Investors Inc. PA boosted its holdings in Superior Energy Services by 2,024.0% during the 3rd quarter. Federated Investors Inc. PA now owns 1,587,896 shares of the oil and gas company’s stock valued at $15,466,000 after acquiring an additional 1,513,136 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in Superior Energy Services during the 3rd quarter valued at $14,728,000. Senvest Management LLC boosted its holdings in Superior Energy Services by 61.5% during the 3rd quarter. Senvest Management LLC now owns 3,047,660 shares of the oil and gas company’s stock valued at $29,684,000 after acquiring an additional 1,160,200 shares during the period. Finally, FMR LLC lifted its holdings in shares of Superior Energy Services by 25.3% in the 2nd quarter. FMR LLC now owns 3,536,332 shares of the oil and gas company’s stock worth $34,444,000 after buying an additional 713,410 shares during the period.

About Superior Energy Services

Superior Energy Services, Inc provides oilfield services and equipment to oil and natural gas exploration and production companies in the United States, the Gulf of Mexico, and internationally. The company operates in four segments: Drilling Products and Services, Onshore Completion and Workover Services, Production Services, and Technical Solutions.

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Analyst Recommendations for Superior Energy Services (NYSE:SPN)

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