SG Americas Securities LLC raised its stake in Superior Energy Services, Inc. (NYSE:SPN) by 34.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,446 shares of the oil and gas company’s stock after purchasing an additional 39,287 shares during the quarter. SG Americas Securities LLC owned about 0.10% of Superior Energy Services worth $199,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Teza Capital Management LLC purchased a new position in Superior Energy Services in the first quarter valued at about $68,000. Marshall Wace North America L.P. purchased a new position in Superior Energy Services in the first quarter valued at about $131,000. Oppenheimer Asset Management Inc. raised its position in Superior Energy Services by 15.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 35,289 shares of the oil and gas company’s stock valued at $165,000 after purchasing an additional 4,616 shares during the period. Brinker Capital Inc. raised its position in Superior Energy Services by 24.2% in the first quarter. Brinker Capital Inc. now owns 45,881 shares of the oil and gas company’s stock valued at $214,000 after purchasing an additional 8,934 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in Superior Energy Services in the first quarter valued at about $370,000. 98.80% of the stock is currently owned by institutional investors.
Shares of NYSE SPN opened at $0.37 on Friday. Superior Energy Services, Inc. has a 1 year low of $0.36 and a 1 year high of $11.14. The firm has a market cap of $68.85 million, a price-to-earnings ratio of -0.41 and a beta of 2.29. The company has a debt-to-equity ratio of 7.56, a quick ratio of 2.07 and a current ratio of 2.48. The stock’s 50-day simple moving average is $0.69 and its 200-day simple moving average is $2.69.
Superior Energy Services (NYSE:SPN) last announced its quarterly earnings data on Tuesday, July 23rd. The oil and gas company reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.06). The firm had revenue of $436.32 million during the quarter, compared to the consensus estimate of $466.52 million. Superior Energy Services had a negative net margin of 44.19% and a negative return on equity of 33.30%. During the same period in the prior year, the firm earned ($0.16) earnings per share. As a group, research analysts predict that Superior Energy Services, Inc. will post -0.97 EPS for the current year.
SPN has been the topic of several research reports. Wolfe Research raised Superior Energy Services from an “underperform” rating to an “outperform” rating and set a $4.00 price objective on the stock in a research report on Tuesday, June 4th. Scotiabank set a $2.00 target price on Superior Energy Services and gave the stock a “hold” rating in a research report on Monday. Zacks Investment Research raised Superior Energy Services from a “sell” rating to a “hold” rating in a research report on Wednesday. Susquehanna Bancshares lowered Superior Energy Services from a “positive” rating to a “neutral” rating and dropped their target price for the stock from $7.00 to $1.50 in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. raised Superior Energy Services from an “underweight” rating to a “neutral” rating and set a $1.62 target price on the stock in a research report on Tuesday, June 4th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $5.36.
In other news, Director James M. Funk acquired 50,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average cost of $0.83 per share, with a total value of $41,500.00. Following the completion of the acquisition, the director now directly owns 82,179 shares in the company, valued at $68,208.57. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.02% of the stock is owned by 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.
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