The stock of Superior Energy Services, Inc. (NYSE:SPN) is a huge mover today! About 3.18M shares traded hands. Superior Energy Services, Inc. (NYSE:SPN) has declined 7.98% since April 27, 2016 and is downtrending. It has underperformed by 13.21% the S&P500.
The move comes after 7 months positive chart setup for the $2.47B company. It was reported on Nov, 30 by Barchart.com. We have $17.39 PT which if reached, will make NYSE:SPN worth $74.10 million more.
Analysts await Superior Energy Services, Inc. (NYSE:SPN) to report earnings on February, 27. They expect $-0.72 earnings per share, down 75.61% or $0.31 from last year’s $-0.41 per share. After $-0.73 actual earnings per share reported by Superior Energy Services, Inc. for the previous quarter, Wall Street now forecasts -1.37% EPS growth.
Superior Energy Services, Inc. (NYSE:SPN) Ratings Coverage
Out of 21 analysts covering Superior Energy Services (NYSE:SPN), 13 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 62% are positive. Superior Energy Services has been the topic of 70 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The company was initiated on Wednesday, December 9 by Susquehanna. Citigroup maintained Superior Energy Services, Inc. (NYSE:SPN) rating on Wednesday, October 5. Citigroup has “Buy” rating and $21 price target. The firm has “Neutral” rating by Citigroup given on Friday, March 18. The rating was upgraded by Citigroup on Friday, December 11 to “Buy”. Morgan Stanley maintained the shares of SPN in a report on Tuesday, May 3 with “Overweight” rating. The stock has “Outperform” rating given by Cowen & Co on Tuesday, May 3. The stock of Superior Energy Services, Inc. (NYSE:SPN) earned “Overweight” rating by Capital One on Wednesday, July 27. The company was downgraded on Tuesday, October 25 by Citigroup. On Friday, April 15 the stock rating was downgraded by JP Morgan to “Neutral”. On Thursday, March 17 the stock rating was upgraded by Morgan Stanley to “Overweight”.
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 0.97 in Q2 2016. Its down 0.12, from 1.09 in 2016Q1. The ratio dropped, 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.
Mutual Of America Cap Mgmt Lc holds 0.05% of its portfolio in Superior Energy Services, Inc. (NYSE:SPN) for 117,504 shares. Rhumbline Advisers holds 238,815 shares or 0.01% of its portfolio. Parkwood Lc holds 0.23% or 63,141 shares in its portfolio. Van Eck accumulated 5.69M shares or 0.54% of the stock. Indexiq Advsrs Limited Co last reported 5,846 shares in the company. Moreover, Jennison Assoc Limited Com has 0.03% invested in Superior Energy Services, Inc. (NYSE:SPN) for 1.34M shares. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Mngmt Corporation has 0.03% invested in the company for 134,915 shares. Moreover, Advisory Services Ltd Limited Liability Company has 0% invested in Superior Energy Services, Inc. (NYSE:SPN) for 182 shares. First L P accumulated 596,257 shares or 0.03% of the stock. Renaissance Technologies accumulated 2.29M shares or 0.08% of the stock. Sei Com has 213,351 shares for 0.02% of their US portfolio. Moreover, Amg Tru Fincl Bank has 0.02% invested in Superior Energy Services, Inc. (NYSE:SPN) for 13,101 shares. Commonwealth Financial Bank Of Aus last reported 0.01% of its portfolio in the stock. State Street accumulated 0.01% or 4.33 million shares. Royal Bank Of Canada owns 75,040 shares or 0% of their US portfolio.
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.
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