Superior Drilling Products (SDPI) Issues Earnings Results

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Superior Drilling Products (NYSEAMERICAN:SDPI) posted its earnings results on Thursday. The oil and gas company reported ($0.01) EPS for the quarter, MarketWatch Earnings reports. The business had revenue of $5.04 million for the quarter, compared to analyst estimates of $5.24 million. Superior Drilling Products updated its FY 2019 guidance to EPS.

Shares of SDPI stock remained flat at $$1.01 during mid-day trading on Friday. 80,476 shares of the stock were exchanged, compared to its average volume of 152,978. Superior Drilling Products has a 12-month low of $0.88 and a 12-month high of $5.05.

A number of equities research analysts have recently issued reports on SDPI shares. Roth Capital raised shares of Superior Drilling Products from a “neutral” rating to a “buy” rating and cut their price objective for the company from $4.00 to $2.00 in a research report on Friday, March 8th. Zacks Investment Research raised shares of Superior Drilling Products from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 30th.

Hedge funds have recently modified their holdings of the company. O Shaughnessy Asset Management LLC bought a new stake in shares of Superior Drilling Products during the 4th quarter valued at $25,000. Virtu Financial LLC bought a new stake in shares of Superior Drilling Products during the 4th quarter valued at $31,000. Northern Trust Corp grew its position in shares of Superior Drilling Products by 84.8% during the 4th quarter. Northern Trust Corp now owns 28,526 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 13,091 shares during the period. Geode Capital Management LLC bought a new stake in shares of Superior Drilling Products during the 4th quarter valued at $101,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Superior Drilling Products during the 3rd quarter valued at $106,000.

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About Superior Drilling Products

Superior Drilling Products, Inc, a drilling and completion tool technology company, innovates, designs, engineers, manufactures, sells, rents, and repairs drilling and completion tools in the United States and internationally. The company manufactures and refurbishes polycrystalline diamond compact drill bits for an oil field services company.

Further Reading: Calculate Your Return on Investment (ROI)

Earnings History for Superior Drilling Products (NYSEAMERICAN:SDPI)

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