Virginia Retirement Systems ET AL reduced its stake in shares of Superior Energy Services, Inc. (NYSE:SPN) by 66.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,730 shares of the oil and gas company’s stock after selling 38,921 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Superior Energy Services were worth $211,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Superior Energy Services by 2.8% during the second quarter. Vanguard Group Inc. now owns 12,918,988 shares of the oil and gas company’s stock valued at $134,745,000 after purchasing an additional 353,628 shares during the period. Victory Capital Management Inc. lifted its stake in Superior Energy Services by 20.7% in the second quarter. Victory Capital Management Inc. now owns 11,290,645 shares of the oil and gas company’s stock worth $117,761,000 after acquiring an additional 1,933,360 shares during the period. Dimensional Fund Advisors LP lifted its stake in Superior Energy Services by 33.9% in the second quarter. Dimensional Fund Advisors LP now owns 8,272,972 shares of the oil and gas company’s stock worth $86,287,000 after acquiring an additional 2,095,988 shares during the period. Van ECK Associates Corp lifted its stake in Superior Energy Services by 1.2% in the third quarter. Van ECK Associates Corp now owns 7,577,016 shares of the oil and gas company’s stock worth $80,923,000 after acquiring an additional 89,538 shares during the period. Finally, State Street Corp lifted its stake in Superior Energy Services by 29.5% in the second quarter. State Street Corp now owns 5,866,537 shares of the oil and gas company’s stock worth $61,185,000 after acquiring an additional 1,335,740 shares during the period.

In other news, Director Peter D. Kinnear purchased 20,000 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was acquired at an average cost of $8.52 per share, with a total value of $170,400.00. Following the completion of 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 accessible through this hyperlink. Corporate insiders own 2.91% of the company’s stock.

Superior Energy Services, Inc. (NYSE:SPN) traded down $0.27 during mid-day trading on Friday, hitting $8.73. 3,359,500 shares of the company’s stock traded hands, compared to its average volume of 3,959,581. Superior Energy Services, Inc. has a 1-year low of $7.66 and a 1-year high of $19.08. The company has a quick ratio of 1.64, a current ratio of 1.99 and a debt-to-equity ratio of 1.15.

Superior Energy Services (NYSE:SPN) last released its quarterly earnings results 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). The firm had revenue of $506.00 million for the quarter, compared to analysts’ expectations of $511.23 million. Superior Energy Services had a negative net margin of 24.59% and a negative return on equity of 26.18%. The business’s quarterly revenue was up 55.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.73) earnings per share. analysts predict that Superior Energy Services, Inc. will post -1.64 earnings per share for the current year.

A number of analysts recently weighed in on SPN shares. ValuEngine lowered shares of Superior Energy Services from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Credit Suisse Group lowered their price objective on shares of Superior Energy Services from $12.00 to $11.00 and set an “outperform” rating for the company in a research note on Wednesday, October 25th. SunTrust Banks raised shares of Superior Energy Services from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Monday, November 20th. Royal Bank of Canada set a $12.00 price objective on shares of Superior Energy Services and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Finally, Scotiabank reaffirmed a “buy” rating on shares of Superior Energy Services in a research note on Friday, October 27th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. Superior Energy Services currently has an average rating of “Hold” and a consensus target price of $13.00.

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Superior Energy Services Profile

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

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