ValuEngine Downgrades Superior Energy Services (SPN) to Sell

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Superior Energy Services (NYSE:SPN) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Tuesday.

SPN has been the subject of several other research reports. Morgan Stanley cut shares of Superior Energy Services from an “equal weight” rating to an “underweight” rating in a research note on Thursday, July 12th. Zacks Investment Research cut shares of Superior Energy Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 18th. Credit Suisse Group dropped their price target on shares of Superior Energy Services from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Thursday, July 26th. Jefferies Financial Group reissued a “hold” rating and issued a $10.00 price target on shares of Superior Energy Services in a research note on Thursday, July 26th. Finally, Capital One Financial reissued an “overweight” rating on shares of Superior Energy Services in a research note on Wednesday, July 25th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Superior Energy Services currently has an average rating of “Hold” and a consensus price target of $12.25.

Superior Energy Services stock opened at $8.44 on Tuesday. Superior Energy Services has a 1-year low of $7.66 and a 1-year high of $12.73. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.97 and a quick ratio of 1.56. The company has a market capitalization of $1.39 billion, a PE ratio of -5.12 and a beta of 2.14.

Superior Energy Services (NYSE:SPN) last posted its quarterly earnings results on Tuesday, July 24th. The oil and gas company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.06. Superior Energy Services had a negative net margin of 6.76% and a negative return on equity of 16.43%. The business had revenue of $553.55 million during the quarter, compared to analysts’ expectations of $532.07 million. During the same quarter in the prior year, the company posted ($0.41) EPS. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. equities analysts forecast that Superior Energy Services will post -0.79 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of SPN. American Century Companies Inc. acquired a new position in shares of Superior Energy Services in the 1st quarter worth approximately $3,029,000. Boston Partners acquired a new stake in Superior Energy Services during the 1st quarter worth approximately $89,796,000. Prudential Financial Inc. lifted its holdings in Superior Energy Services by 10.6% during the 1st quarter. Prudential Financial Inc. now owns 1,978,903 shares of the oil and gas company’s stock worth $16,682,000 after buying an additional 189,980 shares in the last quarter. Swiss National Bank lifted its holdings in Superior Energy Services by 3.7% during the 1st quarter. Swiss National Bank now owns 266,475 shares of the oil and gas company’s stock worth $2,246,000 after buying an additional 9,400 shares in the last quarter. Finally, Vertex One Asset Management Inc. acquired a new stake in Superior Energy Services during the 1st quarter worth approximately $118,000.

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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Superior Energy Services (NYSE:SPN)

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