Superior Energy Services, Inc. (NYSE:SPN) saw a significant drop in short interest in June. As of June 30th, there was short interest totalling 11,499,400 shares, a drop of 11.2% from the May 30th total of 12,951,700 shares. Based on an average daily volume of 3,940,000 shares, the days-to-cover ratio is currently 2.9 days. Currently, 7.5% of the company’s stock are short sold.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in Superior Energy Services by 34.2% in the 4th quarter. BlackRock Inc. now owns 24,180,395 shares of the oil and gas company’s stock valued at $81,002,000 after buying an additional 6,165,927 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of Superior Energy Services by 156.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 3,313,766 shares of the oil and gas company’s stock worth $11,101,000 after purchasing an additional 2,022,800 shares in the last quarter. Norges Bank purchased a new stake in shares of Superior Energy Services during the 4th quarter worth $4,970,000. Squarepoint Ops LLC boosted its position in shares of Superior Energy Services by 314.5% during the 4th quarter. Squarepoint Ops LLC now owns 1,200,241 shares of the oil and gas company’s stock worth $4,021,000 after purchasing an additional 910,712 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new stake in shares of Superior Energy Services during the 4th quarter worth $3,025,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on the stock. Bank of America reissued an “underperform” rating and set a $1.25 price objective (down previously from $4.50) on shares of Superior Energy Services in a report on Tuesday, June 25th. ValuEngine cut shares of Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Raymond James set a $8.00 price objective on shares of Superior Energy Services and gave the stock a “buy” rating in a report on Wednesday, April 17th. Wolfe Research raised shares of Superior Energy Services from an “underperform” rating to an “outperform” rating and set a $4.00 price objective on the stock in a report on Tuesday, June 4th. Finally, Citigroup reissued a “buy” rating and set a $25.00 price objective on shares of Propetro in a report on Tuesday, July 2nd. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the stock. Superior Energy Services presently has an average rating of “Hold” and an average target price of $6.26.
Shares of Superior Energy Services stock remained flat at $$1.17 during trading on Friday. 3,415,392 shares of the stock were exchanged, compared to its average volume of 4,193,135. The stock’s fifty day simple moving average is $1.48. Superior Energy Services has a fifty-two week low of $1.13 and a fifty-two week high of $11.14. The company has a quick ratio of 1.76, a current ratio of 2.12 and a debt-to-equity ratio of 5.18.
Superior Energy Services (NYSE:SPN) last announced its earnings results on Tuesday, April 23rd. The oil and gas company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). The business had revenue of $467.20 million during the quarter, compared to analyst estimates of $495.35 million. Superior Energy Services had a negative net margin of 40.00% and a negative return on equity of 19.11%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.34) earnings per share. On average, equities analysts expect that Superior Energy Services will post -0.86 EPS for the current year.
About Superior Energy Services
Superior Energy Services, Inc provides oilfield services and equipment to oil and natural gas exploration and production companies in the United States, the Gulf of Mexico, and internationally. The company operates in four segments: Drilling Products and Services, Onshore Completion and Workover Services, Production Services, and Technical Solutions.
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