|Day Low/High||8.57 / 8.91|
|52 Wk Low/High||8.54 / 19.39|
Energy stocks and the auto industry were in focus Wednesday.
Investors in Superior Energy Services, Inc. saw new options become available today, for the August 18th expiration.
The most recent short interest data was recently released for the 05/31/2017 settlement date, and Superior Energy Services, Inc. is one of the most shorted stocks of the Russell 3000, based on 5.77 "days to cover" versus the median component at 5.01.
In trading on Wednesday, shares of Superior Energy Services, Inc. entered into oversold territory, changing hands as low as $12.74 per share.
Superior Energy is at a disadvantage to its peers based on geographic and product factors, BMO Capital analyst Daniel Boyd noted.
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The most recent short interest data has been released for the 12/30/2016 settlement date, which shows a 2,124,878 share increase in total short interest for Superior Energy Services, Inc. , to 19,448,834, an increase of 12.27% since 12/15/2016.
If Rex Tillerson is confirmed as the next Secretary of State, oilfield services could see the playing field expand to Russia, presenting new opportunities for profit.
Oilfield services companies could benefit if the sanctions against Russia are lifted.
Matt Marietta, energy analyst at Stephens, says drill for profits in these four energy services stocks.
Drill into these four energy services stocks: Baker Hughes, Oceaneering International, Superior Energy and Nabors Industries.
Superior Energy Services (SPN) posted weaker-than-expected 2016 third quarter results late yesterday, pushing Citi to cut its rating on the shares.
The trading action remains quite tedious, though there are short-term opportunities out there.
Oilfield services executives are likely to come out bullish this week, but investors should note a rebound is not underway until these companies start hiring and spending money on equipment.
U.S. exploration and production companies have put 107 oil and gas rigs back in operation since late May, after taking about 300 offline in the first half of the year.
Comments by the oilfield service giant led analysts to revise their earnings estimates downward but some still think it's a buy.