Superior Energy Services (NYSE:SPN) had its price target lowered by Wells Fargo & Co from $3.00 to $1.00 in a report published on Thursday morning, BenzingaRatingsTable reports. Wells Fargo & Co currently has a market perform rating on the oil and gas company’s stock.

Several other equities research analysts have also recently weighed in on the company. Barclays cut Superior Energy Services from an equal weight rating to an underweight rating and reduced their price objective for the company from $5.00 to $2.00 in a research report on Monday, May 20th. Morgan Stanley reduced their price objective on Superior Energy Services from $5.00 to $3.00 and set an underweight rating for the company in a research report on Friday, July 12th. Scotiabank set a $2.00 price objective on Superior Energy Services and gave the company a hold rating in a research report on Monday, August 26th. Citigroup set a $1.00 price objective on Superior Energy Services and gave the company a buy rating in a research report on Friday, July 26th. Finally, Wolfe Research raised Superior Energy Services from an underperform rating to an outperform rating and set a $4.00 price objective for the company in a research report on Tuesday, June 4th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $4.96.

SPN stock traded down $0.01 during midday trading on Thursday, hitting $0.33. 90,208 shares of the company traded hands, compared to its average volume of 4,323,871. Superior Energy Services has a twelve month low of $0.07 and a twelve month high of $11.14. The company has a quick ratio of 2.07, a current ratio of 2.48 and a debt-to-equity ratio of 7.56. The business has a 50 day simple moving average of $0.52 and a 200-day simple moving average of $2.42. The stock has a market capitalization of $54.16 million, a price-to-earnings ratio of -0.37 and a beta of 2.46.

Superior Energy Services (NYSE:SPN) last announced its quarterly earnings results on Tuesday, July 23rd. The oil and gas company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.06). Superior Energy Services had a negative net margin of 44.19% and a negative return on equity of 33.30%. The company had revenue of $436.32 million for the quarter, compared to analyst estimates of $466.52 million. During the same quarter last year, the business earned ($0.16) EPS. Equities research analysts forecast that Superior Energy Services will post -0.97 EPS for the current year.

In other news, Director James M. Funk bought 50,000 shares of Superior Energy Services stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average cost of $0.83 per share, with a total value of $41,500.00. Following the completion of the transaction, the director now directly owns 82,179 shares in the company, valued at $68,208.57. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.02% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC lifted its position in Superior Energy Services by 34.4% in the second quarter. SG Americas Securities LLC now owns 153,446 shares of the oil and gas company’s stock worth $199,000 after purchasing an additional 39,287 shares during the period. BNP Paribas Arbitrage SA lifted its position in Superior Energy Services by 30.0% in the second quarter. BNP Paribas Arbitrage SA now owns 204,771 shares of the oil and gas company’s stock worth $266,000 after purchasing an additional 47,297 shares during the period. Acadian Asset Management LLC lifted its position in Superior Energy Services by 510.9% in the second quarter. Acadian Asset Management LLC now owns 483,401 shares of the oil and gas company’s stock worth $629,000 after purchasing an additional 404,267 shares during the period. MML Investors Services LLC lifted its position in Superior Energy Services by 196.9% in the first quarter. MML Investors Services LLC now owns 246,406 shares of the oil and gas company’s stock worth $1,151,000 after purchasing an additional 163,400 shares during the period. Finally, Advisory Services Network LLC lifted its position in Superior Energy Services by 8,975.2% in the second quarter. Advisory Services Network LLC now owns 44,650 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 44,158 shares during the period. 92.88% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading: Limitations of the P/E Growth ratio

Analyst Recommendations for Superior Energy Services (NYSE:SPN)

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