Parametric Portfolio Associates LLC lowered its position in Superior Energy Services, Inc. (NYSE:SPN) by 23.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 860,227 shares of the oil and gas company’s stock after selling 256,727 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.55% of Superior Energy Services worth $1,118,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can increased its holdings in shares of Superior Energy Services by 8.2% in the first quarter. Great West Life Assurance Co. Can now owns 211,705 shares of the oil and gas company’s stock worth $988,000 after purchasing an additional 16,000 shares during the period. Ahrens Investment Partners LLC increased its holdings in shares of Superior Energy Services by 98.5% in the second quarter. Ahrens Investment Partners LLC now owns 34,960 shares of the oil and gas company’s stock worth $45,000 after purchasing an additional 17,350 shares during the period. Trillium Asset Management LLC increased its holdings in shares of Superior Energy Services by 14.2% in the second quarter. Trillium Asset Management LLC now owns 168,518 shares of the oil and gas company’s stock worth $219,000 after purchasing an additional 20,892 shares during the period. Marshall Wace North America L.P. bought a new position in shares of Superior Energy Services in the first quarter worth $131,000. Finally, Alambic Investment Management L.P. bought a new position in shares of Superior Energy Services in the second quarter worth $41,000. 92.43% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on SPN shares. Scotiabank set a $2.00 price target on shares of Superior Energy Services and gave the stock a “hold” rating in a report on Monday, August 26th. ValuEngine upgraded shares of Superior Energy Services from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Susquehanna Bancshares lowered shares of Superior Energy Services from a “positive” rating to a “neutral” rating and cut their target price for the stock from $7.00 to $1.50 in a research report on Wednesday, July 10th. Morgan Stanley cut their target price on shares of Superior Energy Services from $5.00 to $3.00 and set an “underweight” rating for the company in a research report on Friday, July 12th. Finally, Bank of America dropped coverage on shares of Superior Energy Services in a research report on Wednesday, August 28th. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Superior Energy Services presently has an average rating of “Hold” and an average target price of $4.43.
Superior Energy Services (NYSE:SPN) last posted its quarterly earnings data on Tuesday, July 23rd. The oil and gas company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.06). The firm had revenue of $436.32 million for the quarter, compared to analyst estimates of $466.52 million. Superior Energy Services had a negative return on equity of 33.30% and a negative net margin of 44.19%. During the same period in the prior year, the company earned ($0.16) earnings per share. Analysts forecast that Superior Energy Services, Inc. will post -0.97 EPS for the current fiscal year.
In other news, Director Terence E. Hall acquired 700,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average cost of $0.13 per share, for a total transaction of $91,000.00. Following the completion of the transaction, the director now owns 1,684,340 shares in the company, valued at $218,964.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brian K. Moore purchased 1,000,000 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average price of $0.09 per share, with a total value of $90,000.00. Following the purchase, the executive vice president now directly owns 1,398,074 shares of the company’s stock, valued at $125,826.66. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 2,215,002 shares of company stock valued at $281,950. 4.02% of the stock is currently owned by company insiders.
Superior Energy Services Profile
Superior Energy Services, Inc provides oilfield services and equipment to oil and natural gas exploration and production companies in the United States, the Gulf of Mexico, and internationally. The company operates in four segments: Drilling Products and Services, Onshore Completion and Workover Services, Production Services, and Technical Solutions.
Further Reading: Diversification
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