Superior Energy Services Inc. (NYSE:SPN) traded up 1.3% on Wednesday after Citigroup raised their price target on the stock from $21.00 to $22.00. Citigroup currently has a buy rating on the stock. Superior Energy Services traded as high as $18.52 and last traded at $18.35, with a volume of 1,270,460 shares. The stock had previously closed at $18.11.

SPN has been the subject of several other research reports. Imperial Capital lowered their price target on Superior Energy Services from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Seaport Global Securities restated a “buy” rating on shares of Superior Energy Services in a research note on Friday, August 19th. Royal Bank Of Canada raised their price objective on Superior Energy Services from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 16th. Scotiabank restated a “focus stock” rating and issued a $27.00 price objective (up from $21.00) on shares of Superior Energy Services in a research note on Friday, June 17th. Finally, Stephens restated a “top pick” rating on shares of Superior Energy Services in a research note on Friday, July 15th. Eight investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $17.01.

Several institutional investors have recently made changes to their positions in the stock. BP Capital Fund Advisors LLC raised its position in shares of Superior Energy Services by 32.8% in the first quarter. BP Capital Fund Advisors LLC now owns 547,266 shares of the company’s stock valued at $7,328,000 after buying an additional 135,221 shares during the period. State Street Corp raised its position in shares of Superior Energy Services by 2.0% in the first quarter. State Street Corp now owns 4,367,271 shares of the company’s stock valued at $58,476,000 after buying an additional 85,328 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in shares of Superior Energy Services during the first quarter valued at approximately $345,000. JPMorgan Chase & Co. raised its position in shares of Superior Energy Services by 99.2% in the first quarter. JPMorgan Chase & Co. now owns 1,344,305 shares of the company’s stock valued at $18,000,000 after buying an additional 669,377 shares during the period. Finally, BlackRock Japan Co. Ltd raised its position in shares of Superior Energy Services by 21.5% in the first quarter. BlackRock Japan Co. Ltd now owns 60,991 shares of the company’s stock valued at $817,000 after buying an additional 10,800 shares during the period.

The company’s 50-day moving average is $16.62 and its 200 day moving average is $16.54. The firm’s market cap is $2.78 billion.

Superior Energy Services (NYSE:SPN) last released its quarterly earnings data on Monday, July 25th. The company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.58) by $0.05. Superior Energy Services had a negative return on equity of 13.55% and a negative net margin of 84.36%. The firm earned $356.30 million during the quarter, compared to the consensus estimate of $367.73 million. During the same period last year, the business posted ($0.31) EPS. Superior Energy Services’s quarterly revenue was down 49.9% on a year-over-year basis. On average, equities research analysts expect that Superior Energy Services Inc. will post ($2.13) earnings per share for the current year.

About Superior Energy Services

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