Superior Energy Services, Inc. (NYSE:SPN) saw a large drop in short interest in June. As of June 30th, there was short interest totalling 11,499,400 shares, a drop of 11.2% from the May 30th total of 12,951,700 shares. Based on an average daily trading volume, of 3,940,000 shares, the days-to-cover ratio is currently 2.9 days. Approximately 7.5% of the company’s shares are sold short.
Shares of NYSE SPN remained flat at $$1.17 during trading hours on Friday. 3,415,392 shares of the company traded hands, compared to its average volume of 4,193,135. The company has a debt-to-equity ratio of 5.18, a quick ratio of 1.76 and a current ratio of 2.12. The company’s 50 day moving average price is $1.48. Superior Energy Services has a 1 year low of $1.13 and a 1 year high of $11.14.
Superior Energy Services (NYSE:SPN) last released its earnings results on Tuesday, April 23rd. The oil and gas company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.07). The company had revenue of $467.20 million for the quarter, compared to analysts’ expectations of $495.35 million. Superior Energy Services had a negative return on equity of 19.11% and a negative net margin of 40.00%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.34) EPS. Analysts anticipate that Superior Energy Services will post -0.86 EPS for the current year.
Several equities research analysts have recently commented on SPN shares. Wolfe Research upgraded shares of Superior Energy Services from an “underperform” rating to an “outperform” rating and set a $4.00 price target for the company in a report on Tuesday, June 4th. Bank of America restated an “underperform” rating and issued a $1.25 price target (down previously from $4.50) on shares of Superior Energy Services in a report on Tuesday, June 25th. Raymond James set a $8.00 price target on shares of Superior Energy Services and gave the company a “buy” rating in a report on Wednesday, April 17th. Zacks Investment Research lowered shares of EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, Gabelli restated a “buy” rating on shares of T. Rowe Price Group in a report on Thursday, April 25th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $6.26.
Large investors have recently added to or reduced their stakes in the business. First Trust Advisors LP grew its holdings in shares of Superior Energy Services by 208.3% in the first quarter. First Trust Advisors LP now owns 507,981 shares of the oil and gas company’s stock valued at $2,372,000 after purchasing an additional 343,214 shares during the period. FMR LLC grew its holdings in shares of Superior Energy Services by 11.8% in the first quarter. FMR LLC now owns 482,032 shares of the oil and gas company’s stock valued at $2,251,000 after purchasing an additional 50,899 shares during the period. Lombard Odier Asset Management USA Corp purchased a new stake in shares of Superior Energy Services in the first quarter valued at about $2,100,000. Marshall Wace North America L.P. purchased a new stake in shares of Superior Energy Services in the first quarter valued at about $131,000. Finally, Marshall Wace LLP purchased a new stake in shares of Superior Energy Services in the first quarter valued at about $404,000. 98.84% of the stock is currently owned by institutional investors.
Superior Energy Services Company Profile
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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