Superior Energy Services (SPN) is Downgraded by JP Morgan to Neutral

Superior Energy Services (SPN) was Downgraded by JP Morgan to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. JP Morgan advised their investors in a research report released on Apr 15, 2016.

Many Wall Street Analysts have commented on Superior Energy Services. Superior Energy Services was Initiated by Nomura to “Neutral” on Apr 8, 2016. Superior Energy Services was Upgraded by Piper Jaffray to ” Overweight” on Mar 31, 2016. Company shares were Reiterated by RBC Capital Mkts on Mar 30, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 14 from a previous price target of $12 .

On the company’s financial health, Superior Energy Services reported $-0.46 EPS for the quarter, missing the analyst consensus estimate by $ -0.09 based on the information available during the earnings call on Oct 28, 2015. Analyst had a consensus of $-0.37. The company had revenue of $601.40 million for the quarter, compared to analysts expectations of $667.44 million. The company’s revenue was down -50.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.55 EPS.

Superior Energy Services closed down -0.03 points or -0.22% at $13.35 with 30,19,721 shares getting traded on Monday. Post opening the session at $13.55, the shares hit an intraday low of $13.35 and an intraday high of $13.83 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Feb 27, 2015, A Patrick Bernard (Senior Executive Vice Pres.) sold 37,500 shares at $22.09 per share price. According to the SEC, on Feb 27, 2015, Lynton G Iii Cook (Executive Vice President) sold 28,029 shares at $22.18 per share price. On Feb 25, 2015, Danny R Young (Executive Vice President) sold 37,500 shares at $21.38 per share price, according to the Form-4 filing with the securities and exchange commission.

Superior Energy Services Inc. is engaged in exploration development and production of oil and natural gas. The Company serves national and independent oil and natural gas companies around the world. Its segments include Drilling Products and Services Onshore Completion and Workover Services Production Services and Technical Solutions. The Drilling Products and Services segment includes downhole drilling tools and surface rentals. The Onshore Completion and Workover Services segment includes pressure pumping fluid handling and workover and maintenance services. The Production Services segment includes intervention services and specialized pressure-control tools used for pressure control and intervention operations. The Technical Solutions segment includes products and services that address customer-specific needs with their applications for specialized engineering manufacturing or project planning.

Superior Energy Services

Leave a Reply

Superior Energy Services - Is it time to Sell?

Top Brokerage Firms are advising their investors on Superior Energy Services. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.