SunTrust Banks, Inc. upgraded shares of Superior Energy Services, Inc. (NYSE:SPN) from a hold rating to a buy rating in a research report released on Monday, Marketbeat Ratings reports. The brokerage currently has $20.00 price objective on the oil and gas company’s stock. SunTrust Banks also issued estimates for Superior Energy Services’ Q4 2017 earnings at ($0.32) EPS, FY2017 earnings at ($1.65) EPS, Q1 2018 earnings at ($0.28) EPS, Q2 2018 earnings at ($0.21) EPS, Q3 2018 earnings at ($0.16) EPS, Q4 2018 earnings at ($0.12) EPS, FY2018 earnings at ($0.77) EPS, Q1 2019 earnings at ($0.09) EPS, Q2 2019 earnings at ($0.03) EPS, Q3 2019 earnings at $0.03 EPS and FY2019 earnings at ($0.02) EPS.

A number of other equities analysts have also weighed in on SPN. Wells Fargo & Company lowered Superior Energy Services from an outperform rating to a market perform rating in a research note on Monday, October 16th. BidaskClub lowered Superior Energy Services from a sell rating to a strong sell rating in a research note on Wednesday, August 16th. Piper Jaffray Companies restated a buy rating on shares of Superior Energy Services in a research note on Tuesday, September 26th. Jefferies Group LLC restated a hold rating and issued a $11.00 target price on shares of Superior Energy Services in a research note on Monday, October 16th. Finally, Cowen Inc set a $14.00 target price on Superior Energy Services and gave the stock a buy rating in a research note on Friday, October 6th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $13.82.

Shares of Superior Energy Services (SPN) opened at $9.18 on Monday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.99 and a quick ratio of 1.64. Superior Energy Services has a 1-year low of $7.66 and a 1-year high of $19.28.

Superior Energy Services (NYSE:SPN) last announced its earnings results on Monday, October 23rd. The oil and gas company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.01). The business had revenue of $506.00 million during the quarter, compared to the consensus estimate of $511.23 million. Superior Energy Services had a negative return on equity of 26.18% and a negative net margin of 24.59%. Superior Energy Services’s revenue was up 55.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.73) earnings per share. equities analysts predict that Superior Energy Services will post -1.63 earnings per share for the current year.

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In other news, Director Peter D. Kinnear acquired 20,000 shares of Superior Energy Services stock in a transaction dated Monday, October 30th. The shares were purchased at an average cost of $8.52 per share, for a total transaction of $170,400.00. Following the transaction, the director now owns 64,607 shares of the company’s stock, valued at $550,451.64. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.91% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Superior Energy Services by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 12,918,988 shares of the oil and gas company’s stock valued at $134,745,000 after purchasing an additional 353,628 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Superior Energy Services by 20.7% during the 2nd quarter. Victory Capital Management Inc. now owns 11,290,645 shares of the oil and gas company’s stock valued at $117,761,000 after purchasing an additional 1,933,360 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Superior Energy Services by 33.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,272,972 shares of the oil and gas company’s stock valued at $86,287,000 after purchasing an additional 2,095,988 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Superior Energy Services by 1.2% during the 3rd quarter. Van ECK Associates Corp now owns 7,577,016 shares of the oil and gas company’s stock valued at $80,923,000 after purchasing an additional 89,538 shares during the last quarter. Finally, State Street Corp increased its position in shares of Superior Energy Services by 29.5% during the 2nd quarter. State Street Corp now owns 5,866,537 shares of the oil and gas company’s stock valued at $61,185,000 after purchasing an additional 1,335,740 shares during the last quarter.

Superior Energy Services Company Profile

Analyst Recommendations for Superior Energy Services (NYSE:SPN)

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