Bearish Options Activity on Superior Energy Services, Inc. After Worse Fundamentals

 Bearish Options Activity on Superior Energy Services, Inc. After Worse Fundamentals

In today’s session Superior Energy Services, Inc. (SPN) recorded an unusually high (618) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious SPN decrease. With 618 contracts traded and 1054 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: SPN161118P00017500 closed last at: $0.95 or 24% down. About 344,057 shares traded hands. Superior Energy Services, Inc. (NYSE:SPN) has risen 47.33% since March 4, 2016 and is uptrending. It has outperformed by 39.29% the S&P500.

Analysts await Superior Energy Services, Inc. (NYSE:SPN) to report earnings on October, 26. They expect $-0.55 EPS, down 19.57% or $0.09 from last year’s $-0.46 per share. After $-0.53 actual EPS reported by Superior Energy Services, Inc. for the previous quarter, Wall Street now forecasts 3.77% negative EPS growth.

Superior Energy Services, Inc. (NYSE:SPN) Ratings Coverage

Out of 20 analysts covering Superior Energy Services (NYSE:SPN), 14 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 70% are positive. $30 is the highest target while $10 is the lowest. The $17.73 average target is -4.37% below today’s ($18.54) stock price. Superior Energy Services has been the topic of 65 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The firm earned “Neutral” rating on Friday, September 4 by Credit Suisse. Credit Suisse maintained it with “Outperform” rating and $12 target price in Wednesday, February 24 report. The stock has “Neutral” rating given by Macquarie Research on Friday, July 15. JP Morgan downgraded Superior Energy Services, Inc. (NYSE:SPN) on Friday, April 15 to “Neutral” rating. On Monday, December 21 the stock rating was upgraded by Credit Suisse to “Outperform”. The stock has “Overweight” rating given by Capital One on Wednesday, July 27. On Tuesday, February 2 the stock rating was downgraded by Imperial Capital to “In-Line”. Jefferies maintained the shares of SPN in a report on Monday, July 11 with “Buy” rating. The stock has “Focus Stock” rating given by Howard Weil on Wednesday, February 24. Citigroup upgraded Superior Energy Services, Inc. (NYSE:SPN) rating on Tuesday, May 3. Citigroup has “Buy” rating and $20 price target.

According to Zacks Investment Research, “SUPERIOR ENERGY SERVICES, INC. is engaged in the business of providing offshore plugging and abandonment and wireline services in the Gulf of Mexico, the development, manufacture and sale of electronic torque and pressure control equipment and thread protectors which are used in connection with oil and gas exploration, the development, manufacture and sale of oil spill containment boom and ancillary equipment and the rental of specialized oil well equipment and fishing tools.”

Insitutional Activity: The institutional sentiment decreased to 1.09 in Q2 2016. Its down 0.10, from 1.19 in 2016Q1. The ratio dived, as 35 funds sold all Superior Energy Services, Inc. shares owned while 101 reduced positions. 47 funds bought stakes while 101 increased positions. They now own 155.01 million shares or 0.59% more from 154.10 million shares in 2016Q1.
Principal Fincl Gp Inc holds 0.02% of its portfolio in Superior Energy Services, Inc. (NYSE:SPN) for 850,695 shares. Sumitomo Mitsui Tru Inc holds 19,600 shares or 0% of its portfolio. The Massachusetts-based State Street has invested 0.01% in Superior Energy Services, Inc. (NYSE:SPN). Goldman Sachs Group accumulated 0.01% or 1.34M shares. Moreover, Botty Limited Liability Co has 0% invested in Superior Energy Services, Inc. (NYSE:SPN) for 150 shares. Us Financial Bank De has invested 0% of its portfolio in Superior Energy Services, Inc. (NYSE:SPN). Parametric Associates Limited Co accumulated 341,078 shares or 0.01% of the stock. Moreover, Kistler has 0% invested in Superior Energy Services, Inc. (NYSE:SPN) for 123 shares. Ranger Invest L P reported 2,420 shares or 0% of all its holdings. Sei Invests holds 0.02% of its portfolio in Superior Energy Services, Inc. (NYSE:SPN) for 213,351 shares. Archford Cap Strategies Ltd has 0% invested in the company for 169 shares. Marathon Asset Management Llp has invested 0.71% of its portfolio in Superior Energy Services, Inc. (NYSE:SPN). Canada Pension Plan Inv Board has invested 0.01% of its portfolio in Superior Energy Services, Inc. (NYSE:SPN). Checchi Cap Advisers Ltd Liability last reported 1,645 shares in the company. The Washington-based Washington Bancorp has invested 0.05% in Superior Energy Services, Inc. (NYSE:SPN).

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 has a market cap of $2.85 billion.

SPN Company Profile

Superior Energy Services, Inc., incorporated on April 26, 1991, 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 divisions include Drilling Products and Services; Onshore Completion and Workover Services; Production Services, and Technical Solutions. The Drilling Products and Services segment rents and sells bottom hole assemblies, drill pipe, tubulars and specialized equipment for use with onshore and offshore gas and oil well drilling, completion, production and workover activities. It also provides on-site accommodations and machining services. The Onshore Completion and Workover Services segment provides pressure pumping services used to complete and stimulate production in new gas and oil wells, fluid handling services and well servicing rigs that provide a range of well completion, workover and maintenance services. The Production Services segment provides intervention services, such as coiled tubing, cased hole and mechanical wireline, hydraulic workover and snubbing, production testing and optimization, and remedial pumping services. The Technical Solutions segment provides services typically requiring specialized engineering, manufacturing or project planning, including well containment systems, stimulation and sand control services and well plug and abandonment services. It also includes production handling arrangements and the production and sale of gas and oil.

Another recent and important Superior Energy Services, Inc. (NYSE:SPN) news was published by Prnewswire.com which published an article titled: “How These Oil & Gas Stocks are Faring? — Superior Energy Services, McDermott …” on October 05, 2016.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment