Superior Energy Services, Inc. (SPN) Shares Gap Up to $8.81
Superior Energy Services, Inc. (NYSE:SPN) gapped up before the market opened on Tuesday . The stock had previously closed at $8.27, but opened at $8.81. Superior Energy Services shares last traded at $9.00, with a volume of 3569078 shares.
A number of equities research analysts have recently issued reports on the stock. Deutsche Bank AG assumed coverage on shares of Superior Energy Services in a report on Tuesday, October 10th. They set a “buy” rating and a $15.00 target price for the company. SunTrust Banks, Inc. raised shares of Superior Energy Services from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Monday. Barclays PLC set a $10.00 price objective on shares of Superior Energy Services and gave the company a “hold” rating in a report on Wednesday, October 25th. Cowen and Company set a $12.00 price objective on shares of Superior Energy Services and gave the company an “outperform” rating in a report on Wednesday, October 25th. Finally, Wells Fargo & Company lowered shares of Superior Energy Services from an “outperform” rating to a “market perform” rating in a report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $13.82.
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 issued its quarterly earnings results on Monday, October 23rd. The oil and gas company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.01). The business had revenue of $506.00 million for the quarter, compared to analyst estimates of $511.23 million. Superior Energy Services had a negative return on equity of 26.18% and a negative net margin of 24.59%. The firm’s revenue for the quarter was up 55.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.73) EPS. analysts expect that Superior Energy Services, Inc. will post -1.63 EPS for the current year.
In other Superior Energy Services news, Director Peter D. Kinnear purchased 20,000 shares of Superior Energy Services 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 completion of the transaction, the director now owns 64,607 shares of the company’s stock, valued at $550,451.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.49% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Summit Financial Wealth Advisors LLC acquired a new stake in Superior Energy Services in the third quarter valued at approximately $107,000. Suntrust Banks Inc. acquired a new stake in Superior Energy Services in the second quarter valued at approximately $108,000. Washington Trust Bank raised its holdings 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 valued at $113,000 after acquiring an additional 990 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in Superior Energy Services in the second quarter valued at approximately $116,000. Finally, Oakbrook Investments LLC acquired a new stake in Superior Energy Services in the second quarter valued at approximately $118,000.
TRADEMARK VIOLATION NOTICE: This article was first posted by Watch List News and is the property of of Watch List News. If you are accessing this article on another site, it was illegally copied and reposted in violation of United States and international copyright legislation. The legal version of this article can be read at https://www.watchlistnews.com/superior-energy-services-inc-spn-shares-gap-up-to-8-81/1718620.html.
About Superior Energy Services
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.