Superior Energy Services (SPN) is Upgraded by Barclays to Overweight, Raises Price Target to $ 18

Superior Energy Services (SPN) was Upgraded by Barclays to ” Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 18 from a previous price target of $10 . Earlier the firm had a rating of “Equal Weight ” on the company shares. Barclays advised their investors in a research report released on Apr 20, 2016.

Many Wall Street Analysts have commented on Superior Energy Services. Superior Energy Services was Downgraded by JP Morgan to ” Neutral” on Apr 15, 2016. 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.

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 opened for trading at $13.63 and hit $14.39 on the upside on Monday, eventually ending the session at $14.27, with a gain of 0.63% or 0.09 points. The heightened volatility saw the trading volume jump to 33,19,860 shares. Company has a market cap of $2,160 M.

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

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