Superior Energy Services, Inc. (NYSE:SPN) Bonds Trading 2.9% Lower

An issue of Superior Energy Services, Inc. (NYSE:SPN) debt fell 2.9% as a percentage of its face value during trading on Tuesday. The debt issue has a 7.75% coupon and will mature on September 15, 2024. The debt is now trading at $100.38. Price moves in a company’s debt in credit markets often predict parallel moves in its stock price.

A number of equities analysts have weighed in on SPN shares. Morgan Stanley restated an “equal weight” rating and issued a $14.00 price target (down previously from $30.00) on shares of Superior Energy Services in a report on Wednesday, June 21st. Barclays PLC restated a “buy” rating and issued a $18.00 price target on shares of Superior Energy Services in a report on Friday, April 28th. Nomura set a $13.00 price target on Superior Energy Services and gave the stock a “hold” rating in a report on Thursday, April 27th. BMO Capital Markets decreased their price target on Superior Energy Services from $16.00 to $15.00 and set a “market perform” rating for the company in a report on Tuesday, May 2nd. Finally, Deutsche Bank AG restated a “buy” rating and issued a $15.00 price target (down previously from $22.00) on shares of Superior Energy Services in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $16.33.

Shares of Superior Energy Services, Inc. (NYSE:SPN) opened at 8.45 on Friday. The firm’s market capitalization is $1.29 billion. The company’s 50 day moving average price is $10.22 and its 200 day moving average price is $12.56. Superior Energy Services, Inc. has a 52-week low of $8.18 and a 52-week high of $19.39.

Superior Energy Services (NYSE:SPN) last posted its earnings results on Tuesday, July 25th. The oil and gas company reported ($0.41) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.48) by $0.07. The business had revenue of $470.07 million during the quarter, compared to the consensus estimate of $465.75 million. Superior Energy Services had a negative return on equity of 28.82% and a negative net margin of 31.24%. Superior Energy Services’s revenue was up 31.9% on a year-over-year basis. During the same quarter last year, the company earned ($3.09) EPS. Analysts forecast that Superior Energy Services, Inc. will post ($1.57) earnings per share for the current year.

A number of institutional investors have recently modified their holdings of SPN. BlackRock Inc. increased its position in shares of Superior Energy Services by 10,301.4% in the first quarter. BlackRock Inc. now owns 23,424,814 shares of the oil and gas company’s stock valued at $334,036,000 after buying an additional 23,199,606 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of Superior Energy Services by 221.9% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 4,285,600 shares of the oil and gas company’s stock valued at $44,699,000 after buying an additional 2,954,100 shares during the last quarter. Balyasny Asset Management LLC increased its position in shares of Superior Energy Services by 535.0% in the second quarter. Balyasny Asset Management LLC now owns 3,008,663 shares of the oil and gas company’s stock valued at $31,380,000 after buying an additional 2,534,833 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Superior Energy Services by 33.9% in the second 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 buying an additional 2,095,988 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Superior Energy Services by 20.7% in the second 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 buying an additional 1,933,360 shares during the last quarter.

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