Clearbridge Investments LLC Purchases 55 Shares of Superior Energy Services, Inc. (NYSE:SPN)

Clearbridge Investments LLC boosted its position in Superior Energy Services, Inc. (NYSE:SPN) by 0.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 162,264 shares of the oil and gas company’s stock after buying an additional 55 shares during the period. Clearbridge Investments LLC’s holdings in Superior Energy Services were worth $2,314,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SPN. Utah Retirement Systems increased its position in Superior Energy Services by 0.4% in the first quarter. Utah Retirement Systems now owns 27,379 shares of the oil and gas company’s stock worth $391,000 after buying an additional 100 shares during the period. Endurance Wealth Management Inc. increased its position in Superior Energy Services by 1.0% in the first quarter. Endurance Wealth Management Inc. now owns 11,026 shares of the oil and gas company’s stock worth $158,000 after buying an additional 112 shares during the period. Northwestern Mutual Investment Management Company LLC increased its position in Superior Energy Services by 0.7% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 26,338 shares of the oil and gas company’s stock worth $376,000 after buying an additional 187 shares during the period. Teacher Retirement System of Texas increased its position in Superior Energy Services by 1.7% in the first quarter. Teacher Retirement System of Texas now owns 12,155 shares of the oil and gas company’s stock worth $173,000 after buying an additional 203 shares during the period. Finally, World Asset Management Inc increased its position in Superior Energy Services by 2.0% in the first quarter. World Asset Management Inc now owns 11,631 shares of the oil and gas company’s stock worth $166,000 after buying an additional 226 shares during the period.

Superior Energy Services, Inc. (NYSE SPN) opened at 9.92 on Monday. The stock’s 50 day moving average price is $10.69 and its 200-day moving average price is $14.36. The firm’s market capitalization is $1.52 billion. Superior Energy Services, Inc. has a 12 month low of $8.99 and a 12 month high of $19.39.

Superior Energy Services (NYSE:SPN) last announced its quarterly earnings results on Tuesday, April 25th. The oil and gas company reported ($0.59) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.02. Superior Energy Services had a negative net margin of 62.02% and a negative return on equity of 27.75%. The firm had revenue of $400.94 million for the quarter, compared to analyst estimates of $388.26 million. During the same period last year, the business earned ($0.49) EPS. Superior Energy Services’s revenue for the quarter was down 3.0% compared to the same quarter last year. Equities analysts forecast that Superior Energy Services, Inc. will post ($1.72) earnings per share for the current year.

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A number of research firms have recently issued reports on SPN. Scotiabank set a $22.00 price target on Superior Energy Services and gave the stock a “buy” rating in a research note on Saturday, April 1st. BMO Capital Markets restated a “market perform” rating and issued a $16.00 price target on shares of Superior Energy Services in a research note on Wednesday, April 12th. Royal Bank of Canada set a $20.00 target price on Superior Energy Services and gave the company a “hold” rating in a research report on Saturday, June 24th. Jefferies Group LLC reiterated a “hold” rating and set a $19.00 target price on shares of Superior Energy Services in a research report on Tuesday, April 25th. Finally, Guggenheim downgraded Superior Energy Services from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Superior Energy Services currently has an average rating of “Hold” and a consensus target price of $18.00.

In related news, insider David D. Dunlap purchased 45,000 shares of the business’s stock in a transaction that occurred on Friday, April 28th. The shares were purchased at an average cost of $12.26 per share, for a total transaction of $551,700.00. Following the purchase, the insider now directly owns 530,657 shares of the company’s stock, valued at $6,505,854.82. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.91% of the stock is owned by company insiders.

Superior Energy Services Company Profile

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

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