Point72 Asset Management L.P. boosted its position in Superior Energy Services, Inc. (NYSE:SPN) by 9.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,196,000 shares of the oil and gas company’s stock after purchasing an additional 100,200 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.78% of Superior Energy Services worth $12,773,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. World Asset Management Inc increased its holdings in shares of Superior Energy Services by 0.3% during the second quarter. World Asset Management Inc now owns 11,665 shares of the oil and gas company’s stock valued at $122,000 after acquiring an additional 34 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Superior Energy Services by 3.7% during the second quarter. Teacher Retirement System of Texas now owns 12,602 shares of the oil and gas company’s stock valued at $131,000 after acquiring an additional 447 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Superior Energy Services by 1.3% during the second quarter. Arizona State Retirement System now owns 64,400 shares of the oil and gas company’s stock valued at $672,000 after acquiring an additional 800 shares in the last quarter. Texas Permanent School Fund increased its holdings in shares of Superior Energy Services by 0.8% during the second quarter. Texas Permanent School Fund now owns 111,583 shares of the oil and gas company’s stock valued at $1,164,000 after acquiring an additional 931 shares in the last quarter. Finally, Comerica Bank increased its holdings in shares of Superior Energy Services by 0.8% during the second quarter. Comerica Bank now owns 130,803 shares of the oil and gas company’s stock valued at $1,366,000 after acquiring an additional 992 shares in the last quarter.

Shares of Superior Energy Services, Inc. (NYSE:SPN) traded down $0.23 during midday trading on Friday, reaching $8.50. The company had a trading volume of 4,320,138 shares, compared to its average volume of 2,468,307. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.64 and a current ratio of 1.99. Superior Energy Services, Inc. has a 52-week low of $7.66 and a 52-week high of $19.08.

Superior Energy Services (NYSE:SPN) last released its quarterly earnings data on Monday, October 23rd. The oil and gas company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.01). Superior Energy Services had a negative return on equity of 26.18% and a negative net margin of 24.59%. The company had revenue of $506.00 million during the quarter, compared to analysts’ expectations of $511.23 million. During the same quarter in the prior year, the company posted ($0.73) EPS. The company’s revenue for the quarter was up 55.1% on a year-over-year basis. sell-side analysts predict that Superior Energy Services, Inc. will post -1.64 earnings per share for the current fiscal year.

In related news, Director Peter D. Kinnear acquired 20,000 shares of the stock in a transaction on Monday, October 30th. The shares were acquired at an average price of $8.52 per share, for a total transaction of $170,400.00. Following the transaction, the director now owns 64,607 shares in the company, valued at approximately $550,451.64. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.91% of the company’s stock.

Several equities analysts have recently issued reports on SPN shares. Cowen set a $14.00 price objective on shares of Superior Energy Services and gave the company a “buy” rating in a report on Friday, October 6th. ValuEngine lowered Superior Energy Services from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Loop Capital set a $13.00 target price on Superior Energy Services and gave the company a “buy” rating in a research report on Wednesday, October 25th. They noted that the move was a valuation call. Royal Bank of Canada set a $12.00 target price on Superior Energy Services and gave the company a “hold” rating in a research report on Wednesday, October 25th. Finally, BMO Capital Markets set a $9.00 target price on Superior Energy Services and gave the company a “hold” rating in a research report on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. Superior Energy Services currently has an average rating of “Hold” and an average target price of $13.00.

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About Superior Energy Services

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

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