The stock rallied to close down just 0.36% at $19.24.
Brent crude declined to $67.53 a barrel on Monday, its lowest price since October 2009, according to BBC News. U.S. crude dropped 50 cents to $65.65 a barrel and hit an intraday low of $63.72, the lowest price since July 2009.
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Brent crude rallied 3.99% to $72.95 in late afternoon trading.
OPEC decided last week not to cut oil production and to keep its target at 30 million barrels per day, a move that could leave the market oversupplied. The announcement sent oil prices spiraling downward, a trend that continued into Monday.
More than 6.8 million shares changed hands Monday, compared to the daily average volume of 2,842,050.
Separately, TheStreet Ratings team rates SUPERIOR ENERGY SERVICES INC as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate SUPERIOR ENERGY SERVICES INC (SPN) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and a generally disappointing performance in the stock itself."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- Despite its growing revenue, the company underperformed as compared with the industry average of 16.4%. Since the same quarter one year prior, revenues rose by 10.3%. Growth in the company's revenue appears to have helped boost the earnings per share.
- 40.31% is the gross profit margin for SUPERIOR ENERGY SERVICES INC which we consider to be strong. It has increased from the same quarter the previous year. Regardless of the strong results of the gross profit margin, the net profit margin of 6.60% trails the industry average.
- Net operating cash flow has increased to $324.57 million or 11.62% when compared to the same quarter last year. Despite an increase in cash flow, SUPERIOR ENERGY SERVICES INC's average is still marginally south of the industry average growth rate of 17.58%.
- SPN has underperformed the S&P 500 Index, declining 8.35% from its price level of one year ago. The fact that the stock is now selling for less than others in its industry in relation to its current earnings is not reason enough to justify a buy rating at this time.
- Current return on equity is lower than its ROE from the same quarter one year prior. This is a clear sign of weakness within the company. Compared to other companies in the Energy Equipment & Services industry and the overall market, SUPERIOR ENERGY SERVICES INC's return on equity significantly trails that of both the industry average and the S&P 500.
- You can view the full analysis from the report here: SPN Ratings Report