Bank of New York Mellon Corp Sells 2,122,400 Shares of Superior Energy Services, Inc. (SPN)

Bank of New York Mellon Corp decreased its holdings in Superior Energy Services, Inc. (NYSE:SPN) by 39.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,293,952 shares of the oil and gas company’s stock after selling 2,122,400 shares during the quarter. Bank of New York Mellon Corp owned 2.15% of Superior Energy Services worth $34,355,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Flinton Capital Management LLC grew its stake in shares of Superior Energy Services by 9.1% in the first quarter. Flinton Capital Management LLC now owns 8,708 shares of the oil and gas company’s stock worth $124,000 after purchasing an additional 728 shares in the last quarter. Neuburgh Advisers LLC grew its stake in shares of Superior Energy Services by 9.1% in the first quarter. Neuburgh Advisers LLC now owns 10,574 shares of the oil and gas company’s stock worth $151,000 after purchasing an additional 884 shares in the last quarter. Washington Trust Bank boosted its stake in Superior Energy Services by 10.1% during the second quarter. Washington Trust Bank now owns 10,800 shares of the oil and gas company’s stock valued at $113,000 after buying an additional 990 shares in the last quarter. US Bancorp DE boosted its stake in Superior Energy Services by 57.7% during the first quarter. US Bancorp DE now owns 11,130 shares of the oil and gas company’s stock valued at $159,000 after buying an additional 4,072 shares in the last quarter. Finally, Oakbrook Investments LLC bought a new position in Superior Energy Services during the second quarter valued at about $118,000.

Several brokerages recently weighed in on SPN. ValuEngine cut Superior Energy Services from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Piper Jaffray Companies set a $12.00 target price on Superior Energy Services and gave the company a “buy” rating in a report on Wednesday, August 16th. BidaskClub downgraded Superior Energy Services from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. Jefferies Group LLC set a $13.00 target price on Superior Energy Services and gave the company a “hold” rating in a report on Saturday, July 29th. Finally, Scotiabank set a $22.00 target price on Superior Energy Services and gave the company a “buy” rating in a report on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $16.33.

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Shares of Superior Energy Services, Inc. (SPN) opened at 10.02 on Friday. Superior Energy Services, Inc. has a 12-month low of $7.91 and a 12-month high of $19.39. The firm’s market cap is $1.53 billion. The firm has a 50-day moving average price of $9.20 and a 200-day moving average price of $11.40.

Superior Energy Services (NYSE:SPN) last issued its earnings results on Tuesday, July 25th. The oil and gas company reported ($0.41) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.48) by $0.07. The company had revenue of $470.07 million during the quarter, compared to the consensus estimate of $465.75 million. Superior Energy Services had a negative return on equity of 28.82% and a negative net margin of 31.24%. The firm’s revenue for the quarter was up 31.9% compared to the same quarter last year. During the same period last year, the business posted ($3.09) EPS. Equities research analysts anticipate that Superior Energy Services, Inc. will post ($1.57) EPS for the current year.

About Superior Energy Services

Institutional Ownership by Quarter for Superior Energy Services (NYSE:SPN)

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