American International Group Inc. Raises Holdings in Superior Energy Services, Inc. (SPN)

American International Group Inc. raised its stake in Superior Energy Services, Inc. (NYSE:SPN) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 414,780 shares of the oil and gas company’s stock after acquiring an additional 11,095 shares during the period. American International Group Inc. owned 0.27% of Superior Energy Services worth $4,430,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Summit Financial Wealth Advisors LLC acquired a new position in Superior Energy Services in the third quarter valued at approximately $107,000. Suntrust Banks Inc. acquired a new position in Superior Energy Services in the second quarter valued at approximately $108,000. Nomura Holdings Inc. acquired a new position in Superior Energy Services in the second quarter valued at approximately $116,000. Endurance Wealth Management Inc. boosted its stake in Superior Energy Services by 4.9% in the second quarter. Endurance Wealth Management Inc. now owns 11,565 shares of the oil and gas company’s stock valued at $121,000 after acquiring an additional 539 shares during the period. Finally, World Asset Management Inc boosted its stake in Superior Energy Services by 0.3% in the second quarter. World Asset Management Inc now owns 11,665 shares of the oil and gas company’s stock valued at $122,000 after acquiring an additional 34 shares during the period.

SPN has been the subject of a number of research reports. Loop Capital set a $13.00 target price on Superior Energy Services and gave the company a “buy” rating in a research note on Wednesday, October 25th. They noted that the move was a valuation call. Piper Jaffray Companies set a $12.00 target price on Superior Energy Services and gave the company a “buy” rating in a research note on Wednesday, August 16th. Cowen set a $14.00 target price on Superior Energy Services and gave the company a “buy” rating in a research note on Friday, October 6th. Deutsche Bank initiated coverage on Superior Energy Services in a research note on Tuesday, October 10th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Scotiabank restated a “buy” rating on shares of Superior Energy Services in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $13.82.

Shares of Superior Energy Services, Inc. (NYSE:SPN) traded down $0.58 during midday trading on Wednesday, hitting $9.60. The stock had a trading volume of 2,499,800 shares, compared to its average volume of 4,001,198. 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, Inc. has a fifty-two week low of $7.66 and a fifty-two week high of $19.28.

Superior Energy Services (NYSE:SPN) last issued its quarterly earnings data on Monday, October 23rd. The oil and gas company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.01). The business had revenue of $506.00 million for the quarter, compared to analyst estimates of $511.23 million. Superior Energy Services had a negative return on equity of 26.18% and a negative net margin of 24.59%. The business’s quarterly revenue was up 55.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.73) earnings per share. analysts predict that Superior Energy Services, Inc. will post -1.64 earnings per share for the current year.

In other Superior Energy Services news, Director Peter D. Kinnear acquired 20,000 shares of Superior Energy Services stock in a transaction dated Monday, October 30th. The stock was acquired at an average cost of $8.52 per share, for a total transaction of $170,400.00. Following the completion of the transaction, the director now owns 64,607 shares in the company, valued at approximately $550,451.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.49% of the company’s stock.

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Superior Energy Services Company Profile

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

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