Wedge Capital Management L L P NC Sells 1,111,642 Shares of Superior Energy Services, Inc. (NYSE:SPN)

Wedge Capital Management L L P NC reduced its position in Superior Energy Services, Inc. (NYSE:SPN) by 92.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 about 0.06% of Superior Energy Services worth $975,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Superior Energy Services by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 12,918,988 shares of the oil and gas company’s stock valued at $134,745,000 after buying an additional 353,628 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Superior Energy Services by 20.7% during the 2nd quarter. Victory Capital Management Inc. now owns 11,290,645 shares of the oil and gas company’s stock valued at $117,761,000 after purchasing an additional 1,933,360 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Superior Energy Services by 33.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,272,972 shares of the oil and gas company’s stock valued at $86,287,000 after purchasing an additional 2,095,988 shares during the last quarter. State Street Corp boosted its position in Superior Energy Services by 29.5% during the 2nd quarter. State Street Corp now owns 5,866,537 shares of the oil and gas company’s stock worth $61,185,000 after buying an additional 1,335,740 shares during the period. Finally, Franklin Resources Inc. boosted its position in Superior Energy Services by 14.4% during the 2nd quarter. Franklin Resources Inc. now owns 5,414,205 shares of the oil and gas company’s stock worth $56,470,000 after buying an additional 682,774 shares during the period.

Superior Energy Services, Inc. (NYSE:SPN) opened at $8.95 on Friday. Superior Energy Services, Inc. has a 52-week low of $7.66 and a 52-week high of $19.28. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.64 and a current ratio of 1.99.

Superior Energy Services (NYSE:SPN) last issued its quarterly earnings results on Monday, October 23rd. The oil and gas company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $506.00 million for the quarter, compared to the consensus estimate of $511.23 million. During the same quarter in the previous year, the business earned ($0.73) earnings per share. The firm’s revenue was up 55.1% on a year-over-year basis. analysts expect that Superior Energy Services, Inc. will post -1.63 EPS for the current year.

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

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In other Superior Energy Services news, Director Peter D. Kinnear purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was bought at an average price of $8.52 per share, with a total value of $170,400.00. Following the completion of the purchase, the director now directly owns 64,607 shares of the company’s stock, valued at approximately $550,451.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.91% of the stock is currently owned by company insiders.

Superior Energy Services Company Profile

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

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