Superior Energy Services, Inc. (NYSE:SPN) shares dropped 4.8% during mid-day trading on Thursday . The stock traded as low as $4.97 and last traded at $4.76. Approximately 62,264 shares traded hands during trading, a decline of 99% from the average daily volume of 5,548,334 shares. The stock had previously closed at $5.00.

SPN has been the subject of several analyst reports. ValuEngine cut shares of Superior Energy Services from a “hold” rating to a “sell” rating in a report on Wednesday, November 21st. Bank of America cut shares of Superior Energy Services from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $5.45 to $5.00 in a report on Monday, December 3rd. Cleveland Research cut shares of Superior Energy Services from a “buy” rating to a “neutral” rating in a report on Thursday, October 18th. JPMorgan Chase & Co. dropped their target price on shares of Superior Energy Services from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, September 17th. Finally, Cowen reaffirmed a “buy” rating and issued a $10.00 target price on shares of Superior Energy Services in a report on Monday, December 3rd. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.22.

The company has a debt-to-equity ratio of 1.24, a current ratio of 2.03 and a quick ratio of 1.65.

Superior Energy Services (NYSE:SPN) last released its quarterly earnings results 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). The business had revenue of $573.07 million during the quarter, compared to analyst estimates of $563.47 million. Superior Energy Services had a negative net margin of 4.76% and a negative return on equity of 14.06%. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.33) earnings per share. On average, analysts forecast that Superior Energy Services, Inc. will post -0.9 earnings per share for the current fiscal year.

In other Superior Energy Services news, CFO Westervelt T. Ballard, Jr. purchased 4,000 shares of the stock in a transaction dated Wednesday, October 24th. The shares were acquired at an average cost of $7.68 per share, for a total transaction of $30,720.00. Following the completion of the transaction, the chief financial officer now directly owns 88,004 shares of the company’s stock, valued at $675,870.72. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director James M. Funk purchased 5,000 shares of the stock in a transaction dated Thursday, November 1st. The stock was acquired at an average price of $7.98 per share, for a total transaction of $39,900.00. Following the completion of the transaction, the director now directly owns 16,961 shares of the company’s stock, valued at $135,348.78. The disclosure for this purchase can be found here. 3.81% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in SPN. NumerixS Investment Technologies Inc acquired a new stake in shares of Superior Energy Services in the second quarter valued at approximately $109,000. First Hawaiian Bank acquired a new stake in shares of Superior Energy Services in the third quarter valued at approximately $156,000. PNC Financial Services Group Inc. grew its position in shares of Superior Energy Services by 96.2% in the third quarter. PNC Financial Services Group Inc. now owns 16,005 shares of the oil and gas company’s stock valued at $156,000 after purchasing an additional 7,848 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Superior Energy Services in the third quarter valued at approximately $159,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Superior Energy Services in the third quarter valued at approximately $195,000.

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Superior Energy Services Company Profile (NYSE:SPN)

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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