Alambic Investment Management L.P. cut its holdings in Superior Energy Services, Inc. (NYSE:SPN) by 76.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,395 shares of the oil and gas company’s stock after selling 132,100 shares during the quarter. Alambic Investment Management L.P.’s holdings in Superior Energy Services were worth $349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Schwab Charles Investment Management Inc. boosted its position in Superior Energy Services by 7.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 994,043 shares of the oil and gas company’s stock valued at $9,573,000 after acquiring an additional 67,058 shares in the last quarter. Oakbrook Investments LLC bought a new stake in Superior Energy Services during the 4th quarter valued at approximately $108,000. Cerebellum GP LLC bought a new stake in Superior Energy Services during the 4th quarter valued at approximately $127,000. SG Americas Securities LLC boosted its position in Superior Energy Services by 71.8% during the 4th quarter. SG Americas Securities LLC now owns 108,040 shares of the oil and gas company’s stock valued at $1,040,000 after acquiring an additional 45,150 shares in the last quarter. Finally, Hermes Investment Management Ltd. boosted its position in Superior Energy Services by 8.0% during the 4th quarter. Hermes Investment Management Ltd. now owns 1,551,858 shares of the oil and gas company’s stock valued at $14,944,000 after acquiring an additional 115,382 shares in the last quarter.
In other news, CEO David D. Dunlap acquired 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 26th. The stock was bought at an average cost of $10.89 per share, for a total transaction of $326,700.00. Following the acquisition, the chief executive officer now directly owns 660,414 shares in the company, valued at $7,191,908.46. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.81% of the stock is owned by insiders.
Several research firms have weighed in on SPN. Citigroup lifted their price objective on Superior Energy Services from $9.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, April 30th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $10.25 price objective on shares of Superior Energy Services in a research report on Friday, February 23rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $12.00 price objective (up from $11.00) on shares of Superior Energy Services in a research report on Wednesday, February 21st. Seaport Global Securities raised Superior Energy Services from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a research report on Wednesday, February 21st. Finally, ValuEngine cut Superior Energy Services from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $13.43.
Superior Energy Services opened at $11.93 on Thursday, MarketBeat reports. Superior Energy Services, Inc. has a 52-week low of $7.66 and a 52-week high of $12.73. The company has a market cap of $1.91 billion, a PE ratio of -7.23 and a beta of 2.05. The company has a quick ratio of 1.48, a current ratio of 1.86 and a debt-to-equity ratio of 1.19.
Superior Energy Services (NYSE:SPN) last released its earnings results on Tuesday, April 24th. The oil and gas company reported ($0.34) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.01. Superior Energy Services had a negative net margin of 8.90% and a negative return on equity of 19.29%. The firm had revenue of $482.32 million during the quarter, compared to analyst estimates of $494.41 million. During the same period last year, the business earned ($0.59) earnings per share. The business’s revenue was up 20.3% on a year-over-year basis. sell-side analysts predict that Superior Energy Services, Inc. will post -0.75 EPS for the current year.
Superior Energy Services Company Profile
Superior Energy Services, Inc provides oilfield services and equipment to oil and natural gas exploration and production companies in the United States, the Gulf of Mexico, and internationally. The company operates in four segments: Drilling Products and Services, Onshore Completion and Workover Services, Production Services, and Technical Solutions.
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