Skip to main content

NEW YORK (TheStreet) --Shares of Superior Energy Services (SPN) are down by 9.85% to $14.18 in midday trading on Thursday afternoon, after the company reported third quarter 2015 earnings results that fell short of analysts' expectations.

The company posted a net loss of 46 cents per share on revenue of $601.40 million for the three month period ended September 30.

Analysts surveyed by Thomson Reuters had been expecting a loss of 36 cents per share on revenue of $670.57 million for the most recent quarter.

The Houston-based oil and gas exploration, development and production company attributed the profit loss to "an extremely challenging market environment."

Oil prices have been on the decline for over a year due to the global supply glut and the decision by OPEC to continue to pump oil at a high rate in order to protect market share.

Separately, TheStreet Ratings team rates SUPERIOR ENERGY SERVICES INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:

Scroll to Continue

TheStreet Recommends

We rate SUPERIOR ENERGY SERVICES INC (SPN) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, poor profit margins, weak operating cash flow and generally disappointing historical performance in the stock itself.

You can view the full analysis from the report here: SPN

Image placeholder title


data by