Superior Energy Services, Inc. (NYSE:SPN) was downgraded by stock analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Friday.

A number of other research analysts have also recently weighed in on SPN. Jefferies Group LLC set a $14.00 price objective on shares of Superior Energy Services and gave the company a “hold” rating in a research report on Tuesday, June 6th. BidaskClub upgraded shares of Superior Energy Services from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Morgan Stanley reiterated an “equal weight” rating and set a $14.00 price objective (down previously from $30.00) on shares of Superior Energy Services in a research report on Wednesday, June 21st. Seaport Global Securities cut shares of Superior Energy Services from a “buy” rating to a “neutral” rating and cut their price objective for the company from $13.00 to $10.00 in a research report on Wednesday, June 21st. Finally, Royal Bank Of Canada set a $20.00 price objective on shares of Superior Energy Services and gave the company a “hold” rating in a research report on Saturday, June 24th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. Superior Energy Services currently has a consensus rating of “Hold” and a consensus price target of $16.33.

Shares of Superior Energy Services (NYSE:SPN) traded up 1.46% during midday trading on Friday, reaching $8.36. 2,536,464 shares of the company’s stock traded hands. The company’s market capitalization is $1.28 billion. Superior Energy Services has a one year low of $8.09 and a one year high of $19.39. The company has a 50-day moving average of $9.64 and a 200-day moving average of $11.88.

Superior Energy Services (NYSE:SPN) last posted its quarterly earnings data on Tuesday, July 25th. The oil and gas company reported ($0.41) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.48) by $0.07. Superior Energy Services had a negative net margin of 31.24% and a negative return on equity of 28.82%. The business had revenue of $470.07 million for the quarter, compared to analysts’ expectations of $465.75 million. During the same quarter in the previous year, the business posted ($3.09) earnings per share. The business’s revenue was up 31.9% compared to the same quarter last year. Equities research analysts anticipate that Superior Energy Services will post ($1.57) EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Superior Energy Services, Inc. (SPN) Cut to “Strong Sell” at ValuEngine” was posted by Watch List News and is owned by of Watch List News. If you are viewing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright laws. The original version of this report can be viewed at https://www.watchlistnews.com/superior-energy-services-inc-spn-cut-to-strong-sell-at-valuengine/1537014.html.

Hedge funds have recently added to or reduced their stakes in the company. Independent Portfolio Consultants Inc. acquired a new stake in Superior Energy Services during the first quarter worth $105,000. Suntrust Banks Inc. acquired a new stake in Superior Energy Services during the second quarter worth $108,000. Washington Trust Bank raised its stake in Superior Energy Services by 10.1% in the second quarter. Washington Trust Bank now owns 10,800 shares of the oil and gas company’s stock worth $113,000 after buying an additional 990 shares during the period. Nomura Holdings Inc. acquired a new stake in Superior Energy Services during the second quarter worth $116,000. Finally, Oakbrook Investments LLC acquired a new stake in Superior Energy Services during the second quarter worth $118,000.

Superior Energy Services Company Profile

Analyst Recommendations for Superior Energy Services (NYSE:SPN)

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