Superior Energy Services, Inc. (SPN) Position Trimmed by South Dakota Investment Council

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South Dakota Investment Council trimmed its holdings in shares of Superior Energy Services, Inc. (NYSE:SPN) by 28.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,900 shares of the oil and gas company’s stock after selling 64,700 shares during the period. South Dakota Investment Council’s holdings in Superior Energy Services were worth $556,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund lifted its holdings in Superior Energy Services by 557.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 401,678 shares of the oil and gas company’s stock worth $120,000 after acquiring an additional 340,541 shares in the last quarter. Alps Advisors Inc. bought a new position in Superior Energy Services during the fourth quarter worth about $590,000. CWM Advisors LLC lifted its holdings in Superior Energy Services by 116.8% during the fourth quarter. CWM Advisors LLC now owns 24,818 shares of the oil and gas company’s stock worth $83,000 after acquiring an additional 13,371 shares in the last quarter. Shelton Capital Management bought a new position in Superior Energy Services during the fourth quarter worth about $52,000. Finally, Rhumbline Advisers lifted its holdings in Superior Energy Services by 56.3% during the fourth quarter. Rhumbline Advisers now owns 452,407 shares of the oil and gas company’s stock worth $1,516,000 after acquiring an additional 162,893 shares in the last quarter.

Shares of Superior Energy Services stock traded up $0.16 during trading on Monday, reaching $4.43. The stock had a trading volume of 2,771,590 shares, compared to its average volume of 3,153,297. The firm has a market cap of $684.57 million, a price-to-earnings ratio of -2.68 and a beta of 2.40. Superior Energy Services, Inc. has a 52 week low of $2.87 and a 52 week high of $12.73. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.03 and a quick ratio of 1.65.

Several research analysts have weighed in on the company. Credit Suisse Group lowered Superior Energy Services from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $10.00 to $4.50 in a report on Wednesday, December 19th. Barclays set a $10.00 price target on Superior Energy Services and gave the company a “hold” rating in a report on Wednesday, October 24th. Seaport Global Securities set a $11.00 price target on Superior Energy Services and gave the company a “buy” rating in a report on Wednesday, October 24th. Piper Jaffray Companies set a $9.00 price target on Superior Energy Services and gave the company a “buy” rating in a report on Tuesday, October 23rd. Finally, BMO Capital Markets cut their price target on Superior Energy Services from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Wednesday, October 24th. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.90.

In related news, Director Peter D. Kinnear bought 30,000 shares of the stock in a transaction that occurred on Thursday, December 13th. The shares were acquired at an average price of $4.01 per share, with a total value of $120,300.00. Following the completion of the transaction, the director now owns 111,096 shares in the company, valued at $445,494.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian K. Moore bought 70,000 shares of the stock in a transaction that occurred on Thursday, December 13th. The stock was bought at an average cost of $4.01 per share, for a total transaction of $280,700.00. Following the transaction, the insider now owns 398,074 shares of the company’s stock, valued at approximately $1,596,276.74. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 130,000 shares of company stock worth $525,800. 3.81% of the stock is owned by company insiders.

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Superior Energy Services 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.

Further Reading: Reverse Stock Split

Want to see what other hedge funds are holding SPN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Superior Energy Services, Inc. (NYSE:SPN).

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

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