Short Interest in Superior Energy Services, Inc. (SPN) Declines By 13.9%

Superior Energy Services, Inc. (NYSE:SPN) was the recipient of a large decrease in short interest in July. As of July 31st, there was short interest totalling 23,459,035 shares, a decrease of 13.9% from the July 14th total of 27,256,720 shares. Based on an average daily trading volume, of 5,130,065 shares, the days-to-cover ratio is presently 4.6 days. Approximately 15.7% of the shares of the stock are sold short.

Several analysts have recently issued reports on the stock. Piper Jaffray Companies set a $12.00 target price on shares of Superior Energy Services and gave the company a “buy” rating in a research report on Wednesday. BidaskClub cut shares of Superior Energy Services from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Jefferies Group LLC set a $13.00 target price on shares of Superior Energy Services and gave the company a “hold” rating in a research report on Saturday, July 29th. Scotiabank set a $22.00 target price on shares of Superior Energy Services and gave the company a “buy” rating in a research report on Thursday, July 27th. Finally, Seaport Global Securities restated a “neutral” rating on shares of Superior Energy Services in a research report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $16.33.

Large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake 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 worth $334,036,000 after buying an additional 23,199,606 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Superior Energy Services by 2.8% in the second quarter. Vanguard Group Inc. now owns 12,918,988 shares of the oil and gas company’s stock worth $134,745,000 after buying an additional 353,628 shares in the last quarter. Victory Capital Management Inc. boosted its stake 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 worth $117,761,000 after buying an additional 1,933,360 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake 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 worth $86,287,000 after buying an additional 2,095,988 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Superior Energy Services by 29.5% in the second quarter. State Street Corp now owns 5,866,537 shares of the oil and gas company’s stock worth $61,185,000 after buying an additional 1,335,740 shares in the last quarter.

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

Superior Energy Services (NYSE:SPN) last issued its earnings results on Tuesday, July 25th. The oil and gas company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.07. Superior Energy Services had a negative net margin of 31.24% and a negative return on equity of 28.82%. The company had revenue of $470.07 million for the quarter, compared to the consensus estimate of $465.75 million. During the same period in the previous year, the firm earned ($3.09) earnings per share. Superior Energy Services’s quarterly revenue was up 31.9% compared to the same quarter last year. Analysts anticipate that Superior Energy Services will post ($1.57) EPS for the current fiscal year.

WARNING: “Short Interest in Superior Energy Services, Inc. (SPN) Declines By 13.9%” was published by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. and international trademark and copyright law. The correct version of this news story can be accessed at https://sportsperspectives.com/2017/08/20/short-interest-in-superior-energy-services-inc-spn-declines-by-13-9.html.

About Superior Energy Services

Receive News & Ratings for Superior Energy Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Superior Energy Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply