Superior Energy Services (NYSE:SPN) has been given a $11.00 price target by equities research analysts at Royal Bank of Canada in a research report issued on Saturday. The brokerage presently has a “hold” rating on the oil and gas company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 23.46% from the company’s previous close.
SPN has been the topic of a number of other research reports. ValuEngine cut Superior Energy Services from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. Scotiabank cut Superior Energy Services to a “hold” rating in a report on Thursday, January 11th. Howard Weil cut Superior Energy Services from a “sector outperform” rating to a “sector perform” rating in a report on Friday, January 12th. UBS Group upgraded Superior Energy Services from a “neutral” rating to a “positive” rating in a report on Friday, January 5th. Finally, Stephens initiated coverage on Superior Energy Services in a report on Tuesday, January 9th. They issued an “equal weight” rating and a $12.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $12.63.
Shares of Superior Energy Services (SPN) traded down $0.03 during trading hours on Friday, hitting $8.91. The stock had a trading volume of 4,352,133 shares, compared to its average volume of 3,724,484. The stock has a market capitalization of $1,363.97, a P/E ratio of -3.17 and a beta of 2.05. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.64 and a current ratio of 1.99. Superior Energy Services has a twelve month low of $7.66 and a twelve month high of $17.60.
Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Superior Energy Services by 2.8% during the second quarter. Vanguard Group Inc. now owns 12,918,988 shares of the oil and gas company’s stock worth $134,745,000 after purchasing an additional 353,628 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Superior Energy Services by 1.2% during the third quarter. Van ECK Associates Corp now owns 7,577,016 shares of the oil and gas company’s stock worth $80,923,000 after purchasing an additional 89,538 shares in the last quarter. State Street Corp lifted its stake in shares of Superior Energy Services by 29.5% during the second quarter. State Street Corp now owns 5,866,537 shares of the oil and gas company’s stock worth $61,185,000 after purchasing an additional 1,335,740 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Superior Energy Services by 477.2% during the fourth quarter. Millennium Management LLC now owns 5,373,514 shares of the oil and gas company’s stock worth $51,747,000 after purchasing an additional 4,442,479 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Superior Energy Services by 43.6% during the third quarter. Bank of New York Mellon Corp now owns 4,731,504 shares of the oil and gas company’s stock worth $50,530,000 after purchasing an additional 1,437,552 shares in the last quarter.
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Superior Energy Services Company Profile
Superior Energy Services, Inc provides a range of services and products to the energy industry related to the exploration, development and production of oil and natural gas. The Company’s segments include Drilling Products and Services, which rents and sells bottom hole assemblies, drill pipe, tubulars and specialized equipment for use with onshore and offshore oil and gas well drilling, production and workover activities; Onshore Completion and Workover Services, which provides pressure pumping services used to complete and stimulate production in new oil and gas wells, fluid handling services and well servicing rigs that provide a range of well completion and maintenance services; Production Services, which provides intervention services, such as coiled tubing, cased hole and mechanical wireline, hydraulic workover and snubbing, and remedial pumping services, and Technical Solutions, which provides services requiring specialized engineering, manufacturing or project planning.
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