Geode Capital Management LLC Grows Position in Superior Energy Services, Inc. (SPN)

Geode Capital Management LLC lifted its position in Superior Energy Services, Inc. (NYSE:SPN) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,250,454 shares of the oil and gas company’s stock after acquiring an additional 9,118 shares during the period. Geode Capital Management LLC owned 0.82% of Superior Energy Services worth $12,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hermes Investment Management Ltd. increased its position in shares of Superior Energy Services by 8.0% in 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 during the period. Point72 Asset Management L.P. increased its position in shares of Superior Energy Services by 9.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,196,000 shares of the oil and gas company’s stock valued at $12,773,000 after acquiring an additional 100,200 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Superior Energy Services by 7.2% in 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 during the period. Assenagon Asset Management S.A. acquired a new position in shares of Superior Energy Services in the 4th quarter valued at $7,810,000. Finally, California Public Employees Retirement System increased its position in shares of Superior Energy Services by 7.7% in the 4th quarter. California Public Employees Retirement System now owns 612,695 shares of the oil and gas company’s stock valued at $5,900,000 after acquiring an additional 43,918 shares during the period.

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NYSE:SPN opened at $8.45 on Friday. Superior Energy Services, Inc. has a one year low of $7.66 and a one year high of $15.25. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.67 and a current ratio of 2.03. The firm has a market capitalization of $1,250.85, a price-to-earnings ratio of -5.12 and a beta of 2.10.

Superior Energy Services (NYSE:SPN) last posted its earnings results on Monday, February 19th. The oil and gas company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.01). Superior Energy Services had a negative return on equity of 21.92% and a negative net margin of 10.99%. The firm had revenue of $497.00 million for the quarter, compared to analysts’ expectations of $509.27 million. During the same period in the previous year, the company earned ($0.74) earnings per share. The company’s revenue was up 40.2% compared to the same quarter last year. sell-side analysts anticipate that Superior Energy Services, Inc. will post -0.81 earnings per share for the current year.

Several equities analysts recently issued reports on SPN shares. Royal Bank of Canada set a $10.00 target price on Superior Energy Services and gave the company a “hold” rating in a research report on Thursday, December 21st. ValuEngine downgraded Superior Energy Services from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Zacks Investment Research raised Superior Energy Services from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Tuesday, January 2nd. Jefferies Group set a $10.00 target price on Superior Energy Services and gave the company a “hold” rating in a research report on Thursday, January 4th. Finally, UBS raised Superior Energy Services from a “neutral” rating to a “positive” rating in a research report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company. Superior Energy Services presently has an average rating of “Hold” and a consensus target price of $12.86.

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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.

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

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