Mitchell Group Inc. cut its stake in shares of Superior Energy Services (NYSE:SPN) by 4.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,842,640 shares of the oil and gas company’s stock after selling 86,480 shares during the quarter. Superior Energy Services accounts for 3.0% of Mitchell Group Inc.’s portfolio, making the stock its 18th largest holding. Mitchell Group Inc. owned 1.19% of Superior Energy Services worth $15,533,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jump Trading LLC bought a new stake in shares of Superior Energy Services during the 4th quarter worth $104,000. Oakbrook Investments LLC purchased a new stake in shares of Superior Energy Services in the fourth quarter valued at $108,000. Cerebellum GP LLC purchased a new stake in shares of Superior Energy Services in the fourth quarter valued at $127,000. Vertex One Asset Management Inc. purchased a new stake in shares of Superior Energy Services in the first quarter valued at $118,000. Finally, MANA Advisors LLC purchased a new stake in shares of Superior Energy Services in the fourth quarter valued at $154,000.
In related news, CEO David D. Dunlap bought 30,000 shares of the business’s stock in a transaction on Thursday, April 26th. The shares were bought at an average cost of $10.89 per share, for a total transaction of $326,700.00. Following the completion of the acquisition, the chief executive officer now directly owns 660,414 shares in the company, valued at $7,191,908.46. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 3.81% of the stock is currently owned by company insiders.
Shares of NYSE:SPN opened at $11.82 on Thursday. The company has a current ratio of 1.86, a quick ratio of 1.48 and a debt-to-equity ratio of 1.19. Superior Energy Services has a 1 year low of $11.58 and a 1 year high of $11.87.
Superior Energy Services (NYSE:SPN) last announced its quarterly earnings data on Tuesday, April 24th. The oil and gas company reported ($0.34) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.01. Superior Energy Services had a negative return on equity of 19.29% and a negative net margin of 8.90%. The business had revenue of $482.32 million during the quarter, compared to analyst estimates of $494.41 million. During the same period last year, the company earned ($0.59) earnings per share. Superior Energy Services’s quarterly revenue was up 20.3% compared to the same quarter last year. sell-side analysts expect that Superior Energy Services will post -0.75 EPS for the current year.
A number of analysts have recently issued reports on the company. ValuEngine upgraded Superior Energy Services from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 9th. Citigroup increased their target price on Superior Energy Services from $9.00 to $11.00 and gave the company a “neutral” rating in a report on Monday, April 30th. Wells Fargo upgraded Superior Energy Services from a “market perform” rating to an “outperform” rating in a report on Monday, April 30th. Barclays increased their target price on Superior Energy Services from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Friday, April 27th. Finally, Raymond James increased their target price on Superior Energy Services from $15.00 to $19.00 and gave the company a “strong-buy” rating in a report on Thursday, April 26th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Superior Energy Services has an average rating of “Hold” and an average target price of $13.43.
About Superior Energy Services
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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