Stock of The Day: What’s Ahead for Superior Energy Services, Inc. After Today’s Big Decline?

Stock of The Day: What's Ahead for Superior Energy Services, Inc. After Today's Big Decline?

The stock of Superior Energy Services, Inc. (NYSE:SPN) is a huge mover today! About 813,062 shares traded hands. Superior Energy Services, Inc. (NYSE:SPN) has risen 37.03% since March 11, 2016 and is uptrending. It has outperformed by 31.58% the S&P500.
The move comes after 6 months negative chart setup for the $2.74B company. It was reported on Oct, 14 by Barchart.com. We have $17.04 PT which if reached, will make NYSE:SPN worth $137.00M less.

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. Superior Energy Services has been the topic of 65 analyst reports since August 3, 2015 according to StockzIntelligence Inc. Jefferies maintained Superior Energy Services, Inc. (NYSE:SPN) rating on Monday, July 11. Jefferies has “Buy” rating and $21 price target. Jefferies maintained the shares of SPN in a report on Wednesday, July 27 with “Buy” rating. The firm has “Outperform” rating by Credit Suisse given on Wednesday, February 24. Susquehanna initiated it with “Neutral” rating and $15 target price in Wednesday, December 9 report. As per Thursday, October 15, the company rating was upgraded by Cowen & Co. The company was downgraded on Friday, April 15 by JP Morgan. Macquarie Research initiated the stock with “Neutral” rating in Friday, July 15 report. Morgan Stanley maintained the shares of SPN in a report on Tuesday, April 19 with “Overweight” rating. The firm has “Focus Stock” rating given on Friday, October 30 by Howard Weil. The firm has “Outperform” rating by RBC Capital Markets given on Monday, August 3.

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 2016 Q2. Its down 0.10, from 1.19 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.
Nuveen Asset Mngmt Limited accumulated 64,306 shares or 0.01% of the stock. Daruma Mngmt Lc last reported 167,977 shares in the company. Quantbot Lp holds 0.03% or 16,512 shares in its portfolio. Waddell Reed Fincl owns 2.53 million shares or 0.1% of their US portfolio. Paloma Prtnrs Management has 25,513 shares for 0.01% of their US portfolio. Moreover, Kalmar Invests Inc De has 0.56% invested in Superior Energy Services, Inc. (NYSE:SPN) for 693,090 shares. The Connecticut-based Cubist Systematic Strategies Ltd Liability Corp has invested 0.03% in Superior Energy Services, Inc. (NYSE:SPN). Invesco Ltd reported 4.39 million shares or 0.03% of all its holdings. Sei Invests reported 213,351 shares or 0.02% of all its holdings. Arizona State Retirement Sys holds 0.02% or 59,189 shares in its portfolio. Proshare Ltd Com holds 0.01% or 26,293 shares in its portfolio. Northern Trust last reported 1.32M shares in the company. Schwab Charles Inv accumulated 0.01% or 417,603 shares. Capstone Asset Management, a Texas-based fund reported 12,816 shares. Sumitomo Mitsui Holdg Inc accumulated 19,600 shares or 0% of the stock.

Another recent and important Superior Energy Services, Inc. (NYSE:SPN) news was published by Prnewswire.com which published an article titled: “Superior Energy Services Announces 2016 Third Quarter Earnings Release And …” on September 26, 2016.

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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