Superior Energy Services, Inc. (SPN) Position Reduced by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its holdings in Superior Energy Services, Inc. (NYSE:SPN) by 92.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,291 shares of the oil and gas company’s stock after selling 1,111,642 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.06% of Superior Energy Services worth $975,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of SPN. Wellington Management Group LLP increased its holdings in Superior Energy Services by 16.6% in the first quarter. Wellington Management Group LLP now owns 235,761 shares of the oil and gas company’s stock valued at $3,362,000 after buying an additional 33,567 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Superior Energy Services by 4.7% during the first quarter. Vanguard Group Inc. now owns 12,565,360 shares of the oil and gas company’s stock worth $179,182,000 after purchasing an additional 559,398 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Superior Energy Services by 7.1% during the first quarter. Geode Capital Management LLC now owns 1,171,540 shares of the oil and gas company’s stock worth $16,706,000 after purchasing an additional 77,498 shares during the last quarter. Morgan Stanley grew its holdings in shares of Superior Energy Services by 44.4% during the first quarter. Morgan Stanley now owns 750,786 shares of the oil and gas company’s stock worth $10,707,000 after purchasing an additional 230,694 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in shares of Superior Energy Services by 3.1% during the first quarter. Amalgamated Bank now owns 23,846 shares of the oil and gas company’s stock worth $340,000 after purchasing an additional 706 shares during the last quarter.

In other Superior Energy Services news, Director Peter D. Kinnear acquired 20,000 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was acquired at an average cost of $8.52 per share, with a total value of $170,400.00. Following the purchase, the director now directly owns 64,607 shares in the company, valued at approximately $550,451.64. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.91% of the company’s stock.

Superior Energy Services, Inc. (NYSE:SPN) opened at $9.61 on Friday. Superior Energy Services, Inc. has a 1-year low of $7.66 and a 1-year high of $19.28. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.99 and a quick ratio of 1.64.

Superior Energy Services (NYSE:SPN) last issued its earnings results on Monday, October 23rd. The oil and gas company reported ($0.33) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.01). Superior Energy Services had a negative net margin of 24.59% and a negative return on equity of 26.18%. The company had revenue of $506.00 million during the quarter, compared to analysts’ expectations of $511.23 million. During the same period last year, the business posted ($0.73) earnings per share. The company’s quarterly revenue was up 55.1% on a year-over-year basis. sell-side analysts expect that Superior Energy Services, Inc. will post -1.63 EPS for the current fiscal year.

SPN has been the topic of several research reports. Cowen and Company set a $14.00 price objective on Superior Energy Services and gave the stock a “buy” rating in a report on Friday, October 6th. Piper Jaffray Companies set a $15.00 price objective on Superior Energy Services and gave the stock a “buy” rating in a report on Tuesday, July 25th. Barclays PLC set a $12.00 price objective on Superior Energy Services and gave the stock a “hold” rating in a report on Wednesday, July 26th. BidaskClub lowered Superior Energy Services from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, Royal Bank Of Canada set a $14.00 price objective on Superior Energy Services and gave the stock a “hold” rating in a report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. Superior Energy Services presently has an average rating of “Hold” and a consensus price target of $13.82.

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Superior Energy Services Profile

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

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