Goldman Sachs Group Inc. started coverage on shares of Superior Energy Services Inc. (NYSE:SPN) in a research note released on Friday morning. The firm issued a neutral rating and a $16.00 price target on the stock.

Several other equities research analysts have also issued reports on SPN. Citigroup Inc. lowered shares of Superior Energy Services from a buy rating to a neutral rating and lowered their price target for the company from $22.00 to $19.00 in a research note on Tuesday, October 25th. Jefferies Group set a $22.00 price target on shares of Superior Energy Services and gave the company a buy rating in a research note on Tuesday, October 18th. Loop Capital started coverage on shares of Superior Energy Services in a research note on Friday, September 30th. They issued a buy rating on the stock. Zacks Investment Research lowered shares of Superior Energy Services from a hold rating to a sell rating in a research note on Wednesday, October 19th. Finally, Capital One Financial Corp. upgraded shares of Superior Energy Services from an equal weight rating to an overweight rating and set a $20.00 price target on the stock in a research note on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $16.37.

Superior Energy Services (NYSE:SPN) traded up 2.94% during midday trading on Friday, reaching $16.11. 1,214,832 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $16.55 and a 200 day moving average price of $16.86. Superior Energy Services has a 52 week low of $8.25 and a 52 week high of $19.83. The company’s market cap is $2.44 billion.

Superior Energy Services (NYSE:SPN) last issued its quarterly earnings data on Monday, October 24th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by $0.16. Superior Energy Services had a negative return on equity of 17.51% and a negative net margin of 55.65%. The company had revenue of $326.23 million for the quarter, compared to analyst estimates of $356.73 million. During the same quarter in the previous year, the business earned ($0.46) earnings per share. The company’s revenue was down 45.8% on a year-over-year basis. Analysts anticipate that Superior Energy Services will post ($2.50) EPS for the current year.

A number of institutional investors have recently made changes to their positions in SPN. IndexIQ Advisors LLC boosted its position in shares of Superior Energy Services by 5.3% in the second quarter. IndexIQ Advisors LLC now owns 5,846 shares of the company’s stock worth $108,000 after buying an additional 293 shares during the last quarter. BlueMountain Capital Management LLC purchased a new position in shares of Superior Energy Services during the first quarter worth about $105,000. LS Investment Advisors LLC boosted its position in shares of Superior Energy Services by 78.4% in the second quarter. LS Investment Advisors LLC now owns 9,095 shares of the company’s stock worth $167,000 after buying an additional 3,996 shares during the last quarter. Washington Trust Bank boosted its position in shares of Superior Energy Services by 7.7% in the second quarter. Washington Trust Bank now owns 9,800 shares of the company’s stock worth $180,000 after buying an additional 700 shares during the last quarter. Finally, Suntrust Banks Inc. purchased a new position in shares of Superior Energy Services during the second quarter worth about $184,000.

Superior Energy Services Company Profile

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