Alyeska Investment Group L.P. trimmed its stake in Superior Energy Services, Inc. (NYSE:SPN) by 52.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,476,431 shares of the oil and gas company’s stock after selling 2,733,243 shares during the quarter. Alyeska Investment Group L.P. owned 1.62% of Superior Energy Services worth $26,448,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Summit Financial Wealth Advisors LLC bought a new stake in Superior Energy Services in the third quarter worth $107,000. Suntrust Banks Inc. bought a new stake in Superior Energy Services in the second quarter worth $108,000. Nomura Holdings Inc. bought a new stake in Superior Energy Services in the second quarter worth $116,000. World Asset Management Inc boosted its holdings 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 worth $122,000 after acquiring an additional 34 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in Superior Energy Services in the third quarter worth $126,000.
SPN has been the topic of several analyst reports. Loop Capital set a $13.00 target price on Superior Energy Services and gave the stock a “buy” rating in a report 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 stock a “buy” rating in a report on Wednesday, August 16th. Cowen set a $14.00 target price on Superior Energy Services and gave the stock a “buy” rating in a report on Friday, October 6th. Deutsche Bank initiated coverage on Superior Energy Services in a report on Tuesday, October 10th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Scotiabank reissued a “buy” rating on shares of Superior Energy Services in a report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $13.82.
Superior Energy Services, Inc. (NYSE SPN) traded up $0.09 during mid-day trading on Friday, hitting $9.27. The stock had a trading volume of 1,718,010 shares, compared to its average volume of 2,617,190. 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 current ratio of 1.99 and a quick ratio of 1.64.
Superior Energy Services (NYSE:SPN) last posted its quarterly earnings results on Monday, October 23rd. The oil and gas company reported ($0.33) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.01). Superior Energy Services had a negative return on equity of 26.18% and a negative net margin of 24.59%. The business had revenue of $506.00 million during the quarter, compared to analysts’ expectations of $511.23 million. During the same quarter in the prior year, the firm earned ($0.73) EPS. The firm’s revenue for the quarter was up 55.1% compared to the same quarter last year. research analysts anticipate that Superior Energy Services, Inc. will post -1.64 EPS for the current fiscal year.
In other news, Director Peter D. Kinnear acquired 20,000 shares of Superior Energy Services stock in a transaction that occurred on Monday, October 30th. The stock was bought at an average price 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 $550,451.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.91% of the stock is owned by insiders.
About Superior Energy Services
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