Royal Bank of Canada Analysts Give Superior Energy Services (SPN) a $10.00 Price Target
Royal Bank of Canada set a $10.00 price target on Superior Energy Services (NYSE:SPN) in a research note issued to investors on Thursday morning. The firm currently has a hold rating on the oil and gas company’s stock.
A number of other analysts also recently commented on the company. SunTrust Banks raised Superior Energy Services from a hold rating to a buy rating and set a $20.00 price target for the company in a research report on Monday, November 20th. Scotiabank reissued a buy rating on shares of Superior Energy Services in a research report on Friday, October 27th. Credit Suisse Group decreased their target price on Superior Energy Services from $12.00 to $11.00 and set an outperform rating for the company in a research report on Wednesday, October 25th. Barclays set a $10.00 target price on Superior Energy Services and gave the stock a hold rating in a research report on Wednesday, October 25th. Finally, Deutsche Bank decreased their target price on Superior Energy Services from $15.00 to $10.00 and set a buy rating for the company in a research report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $12.88.
Superior Energy Services (SPN) opened at $9.54 on Thursday. Superior Energy Services has a fifty-two week low of $7.66 and a fifty-two week high of $19.08. The company has a quick ratio of 1.64, a current ratio of 1.99 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $1,440.00, a P/E ratio of -3.88 and a beta of 2.16.
Superior Energy Services (NYSE:SPN) last posted its earnings results on Monday, October 23rd. The oil and gas company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.01). The company had revenue of $506.00 million during the quarter, compared to the consensus estimate of $511.23 million. Superior Energy Services had a negative net margin of 24.59% and a negative return on equity of 26.18%. The firm’s revenue for the quarter was up 55.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.73) EPS. sell-side analysts forecast that Superior Energy Services will post -1.64 EPS for the current fiscal year.
In related news, Director Peter D. Kinnear purchased 20,000 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were purchased at an average cost of $8.52 per share, with a total value of $170,400.00. Following the transaction, the director now directly owns 64,607 shares in the company, valued at approximately $550,451.64. The purchase was disclosed in a document filed with the SEC, which is available through this link. 2.91% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Contrarius Investment Management Ltd purchased a new stake in shares of Superior Energy Services in the 2nd quarter worth $3,279,000. Shell Asset Management Co. purchased a new stake in shares of Superior Energy Services in the 3rd quarter worth $3,317,000. Mitchell Group Inc. increased its stake in shares of Superior Energy Services by 17.7% in the 2nd quarter. Mitchell Group Inc. now owns 2,534,080 shares of the oil and gas company’s stock worth $26,430,000 after purchasing an additional 381,150 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Superior Energy Services by 14.6% in the 2nd quarter. Rhumbline Advisers now owns 322,557 shares of the oil and gas company’s stock worth $3,364,000 after purchasing an additional 41,064 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Superior Energy Services by 43.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,431,065 shares of the oil and gas company’s stock worth $35,786,000 after purchasing an additional 1,046,072 shares in the last quarter.
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Superior Energy Services Company Profile
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