Superior Energy Services (SPN) Shares Down 5.6%

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Superior Energy Services, Inc. (NYSE:SPN)’s share price fell 5.6% during trading on Thursday . The company traded as low as $3.75 and last traded at $4.05. 2,817,015 shares traded hands during trading, a decline of 30% from the average session volume of 3,999,616 shares. The stock had previously closed at $4.29.

A number of brokerages have recently commented on SPN. Wells Fargo & Co lowered shares of Superior Energy Services from an “outperform” rating to a “market perform” rating in a report on Monday. Royal Bank of Canada set a $15.00 target price on shares of Superior Energy Services and gave the stock a “hold” rating in a research note on Thursday, September 20th. Piper Jaffray Companies lowered their target price on shares of Superior Energy Services from $9.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, December 31st. JPMorgan Chase & Co. lowered 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 research note on Monday, September 17th. Finally, ValuEngine downgraded shares of Superior Energy Services from a “hold” rating to a “sell” rating in a research note on Wednesday, November 21st. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $8.90.

The company has a current ratio of 2.03, a quick ratio of 1.65 and a debt-to-equity ratio of 1.24. The company has a market cap of $577.94 million, a price-to-earnings ratio of -2.45 and a beta of 2.38.

Superior Energy Services (NYSE:SPN) last posted its quarterly earnings results on Monday, October 22nd. The oil and gas company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02). Superior Energy Services had a negative net margin of 4.76% and a negative return on equity of 14.06%. 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 firm posted ($0.33) earnings per share. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. As a group, equities analysts predict that Superior Energy Services, Inc. will post -0.92 EPS for the current fiscal year.

In related news, CFO Westervelt T. Ballard, Jr. purchased 4,000 shares of the firm’s stock in a transaction on Wednesday, October 24th. The stock was purchased at an average cost of $7.68 per share, with a total value of $30,720.00. Following the completion of the purchase, the chief financial officer now owns 88,004 shares in the company, valued at approximately $675,870.72. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Harold J. Bouillion purchased 30,000 shares of the firm’s stock in a transaction on Tuesday, December 11th. The stock was bought at an average cost of $4.16 per share, with a total value of $124,800.00. Following the completion of the purchase, the director now owns 90,622 shares of the company’s stock, valued at approximately $376,987.52. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 139,000 shares of company stock valued at $596,420. Insiders own 3.81% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of SPN. NumerixS Investment Technologies Inc bought a new stake in shares of Superior Energy Services during the second quarter worth about $109,000. PNC Financial Services Group Inc. increased its position in shares of Superior Energy Services by 96.2% during the third quarter. PNC Financial Services Group Inc. now owns 16,005 shares of the oil and gas company’s stock worth $156,000 after acquiring an additional 7,848 shares in the last quarter. First Hawaiian Bank bought a new stake in shares of Superior Energy Services during the third quarter worth about $156,000. Verition Fund Management LLC bought a new stake in shares of Superior Energy Services during the third quarter worth about $159,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Superior Energy Services during the fourth quarter worth about $172,000.

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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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