BlackRock Inc. Increases Position in Superior Energy Services, Inc. (NYSE:SPN)

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BlackRock Inc. boosted its holdings in shares of Superior Energy Services, Inc. (NYSE:SPN) by 11.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,612,965 shares of the oil and gas company’s stock after acquiring an additional 3,006,686 shares during the period. BlackRock Inc. owned 18.27% of Superior Energy Services worth $37,197,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Commonwealth Bank of Australia grew its stake in Superior Energy Services by 104.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 95,300 shares of the oil and gas company’s stock valued at $123,000 after acquiring an additional 48,700 shares in the last quarter. Alambic Investment Management L.P. purchased a new stake in Superior Energy Services during the 2nd quarter valued at about $41,000. Northern Trust Corp grew its stake in Superior Energy Services by 2.2% during the 2nd quarter. Northern Trust Corp now owns 1,936,995 shares of the oil and gas company’s stock valued at $2,518,000 after acquiring an additional 41,530 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Superior Energy Services by 190.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,864,199 shares of the oil and gas company’s stock valued at $2,423,000 after acquiring an additional 1,222,147 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in Superior Energy Services by 29.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 238,690 shares of the oil and gas company’s stock valued at $310,000 after acquiring an additional 53,722 shares in the last quarter. 92.43% of the stock is owned by institutional investors.

Superior Energy Services stock opened at $0.15 on Friday. The firm has a 50 day simple moving average of $0.29 and a 200-day simple moving average of $1.79. Superior Energy Services, Inc. has a 1-year low of $0.07 and a 1-year high of $11.14. The company has a debt-to-equity ratio of 7.56, a current ratio of 2.48 and a quick ratio of 2.07. The stock has a market cap of $23.50 million, a price-to-earnings ratio of -0.17 and a beta of 2.46.

Superior Energy Services (NYSE:SPN) last issued its quarterly earnings data on Tuesday, July 23rd. The oil and gas company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.06). Superior Energy Services had a negative return on equity of 33.30% and a negative net margin of 44.19%. The company had revenue of $436.32 million during the quarter, compared to analyst estimates of $466.52 million. During the same quarter in the prior year, the company posted ($0.16) earnings per share. Equities analysts expect that Superior Energy Services, Inc. will post -0.97 earnings per share for the current fiscal year.

In related news, EVP Brian K. Moore acquired 1,000,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were purchased at an average cost of $0.09 per share, for a total transaction of $90,000.00. Following the acquisition, the executive vice president now owns 1,398,074 shares in the company, valued at approximately $125,826.66. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James M. Funk acquired 50,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was bought at an average price of $0.83 per share, for a total transaction of $41,500.00. Following the completion of the acquisition, the director now owns 82,179 shares in the company, valued at approximately $68,208.57. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 2,215,002 shares of company stock worth $281,950. Company insiders own 4.02% of the company’s stock.

Several analysts recently issued reports on SPN shares. Susquehanna Bancshares cut shares of Superior Energy Services from a “positive” rating to a “neutral” rating and dropped their price objective for the company from $7.00 to $1.50 in a research note on Wednesday, July 10th. Scotiabank set a $2.00 price target on shares of Superior Energy Services and gave the company a “hold” rating in a research note on Monday, August 26th. Piper Jaffray Companies cut shares of Superior Energy Services from an “overweight” rating to a “neutral” rating and set a $1.00 price target for the company. in a research note on Friday, July 26th. Zacks Investment Research cut shares of Superior Energy Services from a “hold” rating to a “sell” rating in a research note on Wednesday, September 25th. Finally, Bank of America dropped coverage on shares of Superior Energy Services in a research note on Wednesday, August 28th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. Superior Energy Services presently has a consensus rating of “Hold” and a consensus price target of $4.43.

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.

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

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