Verition Fund Management LLC decreased its stake in Superior Energy Services, Inc. (NYSE:SPN) by 31.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,412 shares of the oil and gas company’s stock after selling 20,943 shares during the period. Verition Fund Management LLC’s holdings in Superior Energy Services were worth $437,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oakbrook Investments LLC bought a new stake in shares of Superior Energy Services in the 4th quarter worth approximately $108,000. Crossmark Global Holdings Inc. bought a new stake in shares of Superior Energy Services in the 3rd quarter worth approximately $126,000. PEAK6 Investments L.P. lifted its holdings in shares of Superior Energy Services by 149.0% in the 3rd 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. Cerebellum GP LLC bought a new stake in shares of Superior Energy Services in the 4th quarter worth approximately $127,000. Finally, MANA Advisors LLC bought a new stake in shares of Superior Energy Services in the 4th quarter worth approximately $154,000.
Shares of SPN stock opened at $9.14 on Friday. Superior Energy Services, Inc. has a 12 month low of $7.66 and a 12 month high of $15.25. The company has a quick ratio of 1.67, a current ratio of 2.03 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $1,472.95, a price-to-earnings ratio of -6.77 and a beta of 2.12.
Several analysts recently issued reports on SPN shares. Zacks Investment Research raised 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. Cowen set a $14.00 price target on Superior Energy Services and gave the stock a “buy” rating in a report on Thursday, January 11th. Seaport Global Securities raised Superior Energy Services from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Wednesday, February 21st. Deutsche Bank raised their price target on Superior Energy Services from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $10.25 price target on shares of Superior Energy Services in a report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the stock. Superior Energy Services presently has an average rating of “Hold” and an average price target of $12.91.
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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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