GW&K Investment Management LLC Lowers Holdings in Superior Energy Services, Inc. (SPN)
GW&K Investment Management LLC lowered its position in shares of Superior Energy Services, Inc. (NYSE:SPN) by 3.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 595,216 shares of the oil and gas company’s stock after selling 19,660 shares during the quarter. GW&K Investment Management LLC’s holdings in Superior Energy Services were worth $5,732,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of SPN. Oakbrook Investments LLC purchased a new position in shares of Superior Energy Services during the 4th quarter valued at about $108,000. Fox Run Management L.L.C. raised its stake in shares of Superior Energy Services by 36.3% during the 4th quarter. Fox Run Management L.L.C. now owns 57,250 shares of the oil and gas company’s stock valued at $551,000 after buying an additional 15,250 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Superior Energy Services by 7.2% during 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 buying an additional 67,058 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Superior Energy Services by 65.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 209,228 shares of the oil and gas company’s stock valued at $2,235,000 after buying an additional 82,700 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of Superior Energy Services by 52.1% during the 3rd quarter. GSA Capital Partners LLP now owns 24,381 shares of the oil and gas company’s stock valued at $260,000 after buying an additional 8,348 shares during the last quarter.
In other news, Director Peter D. Kinnear acquired 20,000 shares of the business’s stock in a transaction on Monday, October 30th. The stock was bought at an average cost of $8.52 per share, for a total transaction of $170,400.00. Following the purchase, the director now owns 64,607 shares in the company, valued at $550,451.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.49% of the stock is currently owned by insiders.
Superior Energy Services (NYSE:SPN) last posted 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 firm had revenue of $506.00 million for the quarter, compared to analysts’ expectations of $511.23 million. During the same quarter last year, the firm posted ($0.73) earnings per share. Superior Energy Services’s quarterly revenue was up 55.1% on a year-over-year basis. equities analysts anticipate that Superior Energy Services, Inc. will post -1.64 earnings per share for the current year.
SPN has been the subject of a number of recent research reports. Cowen set a $14.00 price objective on Superior Energy Services and gave the company a “buy” rating in a research note on Friday, October 6th. Zacks Investment Research lowered Superior Energy Services from a “buy” rating to a “hold” rating in a research note on Saturday, January 6th. UBS Group upgraded Superior Energy Services from a “neutral” rating to a “positive” rating in a research note on Friday, January 5th. Scotia Howard Weill reiterated a “sector perform” rating on shares of Superior Energy Services in a research note on Friday, January 12th. Finally, Loop Capital set a $13.00 price objective on Superior Energy Services and gave the company a “buy” rating in a research note on Wednesday, October 25th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Superior Energy Services currently has a consensus rating of “Hold” and a consensus target price of $12.78.
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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.
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