Prudential Financial Inc. Purchases 1,224,080 Shares of Superior Energy Services, Inc. (SPN)

Prudential Financial Inc. grew its position in shares of Superior Energy Services, Inc. (NYSE:SPN) by 1,192.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,326,733 shares of the oil and gas company’s stock after purchasing an additional 1,224,080 shares during the period. Prudential Financial Inc. owned approximately 0.87% of Superior Energy Services worth $14,170,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. World Asset Management Inc raised its stake in shares of Superior Energy Services by 0.3% during 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 in the last quarter. Teacher Retirement System of Texas raised its stake in Superior Energy Services by 3.7% in the second quarter. Teacher Retirement System of Texas now owns 12,602 shares of the oil and gas company’s stock worth $131,000 after buying an additional 447 shares in the last quarter. Endurance Wealth Management Inc. raised 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 worth $121,000 after buying an additional 539 shares in the last quarter. Arizona State Retirement System grew its holdings in Superior Energy Services by 1.3% in the second quarter. Arizona State Retirement System now owns 64,400 shares of the oil and gas company’s stock worth $672,000 after purchasing an additional 800 shares during the last quarter. Finally, State Treasurer State of Michigan grew its holdings in Superior Energy Services by 1.4% in the second quarter. State Treasurer State of Michigan now owns 63,000 shares of the oil and gas company’s stock worth $657,000 after purchasing an additional 900 shares during the last quarter.

In other news, Director Peter D. Kinnear acquired 20,000 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was acquired at an average price of $8.52 per share, with a total value of $170,400.00. Following the completion of the transaction, 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 available at the SEC website. Insiders own 3.49% of the company’s stock.

SPN has been the topic of a number of research analyst reports. Jefferies Group set a $13.00 price objective on shares of Superior Energy Services and gave the company a “hold” rating in a report on Thursday, October 5th. Royal Bank Of Canada set a $14.00 price target on shares of Superior Energy Services and gave the company a “hold” rating in a report on Saturday, October 7th. Cowen set a $14.00 price objective on shares of Superior Energy Services and gave the stock a “buy” rating in a research report on Friday, October 6th. Deutsche Bank initiated coverage on shares of Superior Energy Services in a research report on Tuesday, October 10th. They set a “buy” rating and a $15.00 price target for the company. Finally, Scotiabank reaffirmed 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 assigned a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $13.82.

Shares of Superior Energy Services, Inc. (SPN) traded down $0.54 during trading hours on Wednesday, hitting $9.06. 3,329,012 shares of the stock traded hands, compared to its average volume of 3,998,337. The company has a current ratio of 1.99, a quick ratio of 1.64 and a debt-to-equity ratio of 1.15. Superior Energy Services, Inc. has a 1-year low of $7.66 and a 1-year high of $19.28.

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

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Superior Energy Services Profile

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

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