Franklin Resources Inc. reduced its holdings in shares of Superior Energy Services, Inc. (NYSE:SPN) by 30.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,501,750 shares of the oil and gas company’s stock after selling 1,558,972 shares during the period. Franklin Resources Inc. owned about 2.29% of Superior Energy Services worth $33,722,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of SPN. Oakbrook Investments LLC bought a new position in shares of Superior Energy Services in the fourth quarter worth approximately $108,000. Crossmark Global Holdings Inc. bought a new position in shares of Superior Energy Services in the third quarter worth approximately $126,000. Cerebellum GP LLC bought a new position in shares of Superior Energy Services in the fourth quarter worth approximately $127,000. PEAK6 Investments L.P. grew its holdings in shares of Superior Energy Services by 149.0% in the third quarter. PEAK6 Investments L.P. now owns 12,704 shares of the oil and gas company’s stock worth $136,000 after purchasing an additional 38,640 shares during the last quarter. Finally, MANA Advisors LLC bought a new position in shares of Superior Energy Services in the fourth quarter worth approximately $154,000.
SPN stock opened at $9.62 on Wednesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.03 and a quick ratio of 1.67. Superior Energy Services, Inc. has a 52-week low of $7.66 and a 52-week high of $15.25.
Superior Energy Services (NYSE:SPN) last announced its quarterly earnings data on Monday, February 19th. The oil and gas company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.01). The firm had revenue of $497.00 million for the quarter, compared to analysts’ expectations of $509.27 million. Superior Energy Services had a negative net margin of 10.99% and a negative return on equity of 21.92%. The business’s quarterly revenue was up 40.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.74) EPS. sell-side analysts anticipate that Superior Energy Services, Inc. will post -0.81 earnings per share for the current fiscal year.
Several research analysts have recently issued reports on SPN shares. Royal Bank of Canada set a $10.00 target price on shares of Superior Energy Services and gave the stock a “hold” rating in a report on Thursday, December 21st. ValuEngine cut shares of Superior Energy Services from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. Zacks Investment Research upgraded shares of Superior Energy Services from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Tuesday, January 2nd. Jefferies Group set a $10.00 price target on shares of Superior Energy Services and gave the company a “hold” rating in a report on Thursday, January 4th. Finally, UBS upgraded shares of Superior Energy Services from a “neutral” rating to a “positive” rating in a report on Friday, January 5th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $12.91.
About Superior Energy Services
Superior Energy Services, Inc provides a range of services and products to the energy industry related to the exploration, development and production of oil and natural gas. The Company’s segments include Drilling Products and Services, which rents and sells bottom hole assemblies, drill pipe, tubulars and specialized equipment for use with onshore and offshore oil and gas well drilling, production and workover activities; Onshore Completion and Workover Services, which provides pressure pumping services used to complete and stimulate production in new oil and gas wells, fluid handling services and well servicing rigs that provide a range of well completion and maintenance services; Production Services, which provides intervention services, such as coiled tubing, cased hole and mechanical wireline, hydraulic workover and snubbing, and remedial pumping services, and Technical Solutions, which provides services requiring specialized engineering, manufacturing or project planning.
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