On Tuesday, shares of Superior Energy Services, Inc.(NYSE:SPN) traded unexpectedly high, closing the trading day at $8.54. And while the markets may have just opened today, it appears the company is going to have yet another successful trading day.
Personally, I think it’s nice to see a company in the oil and gas sector thriving as most companies, regardless of its sector, have been drowned out this year due to the rapid takeover of bitcoin and cryptocurrency. Sure, bitcoin might be the hottest thing on the market right now, but without companies like Superior Energy Services, our world might be a completely different place and oil and gas is definitely not a speculative bubble like some suggest bitcoin to be.
As of this writing, Superior Energy Services is up 6.79% and is currently trading at $9.12. The market cap for SPN is reported at $1.34 billion. Over the course the past two days, primarily because of the proposed U.S. tax bill, stocks have either plummeted or increased, and it seems Superior Energy Services is going to join the latter. With that being said, it is important to mention that Superior Energy Services has decreased 25.14% since this time last year.
For those who don’t know, Superior Energy Services is a Houston, Texas-based company that focuses primarily on providing both oilfield services and oilfield equipment to companies in the United States that specialize in crude oil and natural gas output. To keep their work organized and simple, Superior Energy Services operates through four specific divisions, one of which includes Drilling Products and Services.
The company has had a lot going on over the past two months, so it’s nice to see that its busy schedule has not slowed down its momentum. Last month, CEO Dave Dunlap presented at the Bank of America Merrill Lynch 2017 Leveraged Finance Conference, which is a huge deal, as the conference itself is well-known in the world of finance. Dunlap’s presentation was streamed online, and for anyone who watched it, you were in for a treat.
As of right now, there are roughly 29 analysts following SPNs movement. Among these analysts, 13 have given the stock a ‘buy’ rating, 15 have given it a ‘hold’ rating, and only 1 analyst has given SPN a ‘sell’ rating. If you follow along with finance, you will know that these ratings are pretty significant because they mean 45% of analysists are positive. Back in October, both Credit Suisse (NYSE:CS) and Oppenheimer maintained their “Outperform” stock rating, while Wells Fargo (NYSE:WFC) gave it a ‘Hold’ rating.
The past two trading days are a positive lead up to the company’s February 20 earnings report, which analysts are eagerly awaiting. Currently, Superior Energy Services are forecasting earnings per share to come in at $-0.31, which is up 58.11% from 2016’s earnings per share. TheStreet (NASDAQ:TST) is expecting to see a -6.06% growth in earnings per share.
The takeaway? Superior Energy Services is not only doing well right now, but it is also expected that its luck will run into 2018. Check back in January to see if the SPN stock can keep up its momentum leading up to its February earnings report.
Featured Image: Depositphotos/© Petrovich99
