Superior Energy Services, Inc. (SPN) Stake Raised by Tygh Capital Management Inc.

Tygh Capital Management Inc. lifted its position in shares of Superior Energy Services, Inc. (NYSE:SPN) by 144.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 472,058 shares of the oil and gas company’s stock after buying an additional 278,794 shares during the quarter. Tygh Capital Management Inc. owned about 0.31% of Superior Energy Services worth $3,979,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Superior Energy Services during the first quarter worth $158,000. GW&K Investment Management LLC increased its position in shares of Superior Energy Services by 84.2% during the first quarter. GW&K Investment Management LLC now owns 1,096,271 shares of the oil and gas company’s stock worth $9,242,000 after buying an additional 501,055 shares during the period. Neuberger Berman Group LLC acquired a new stake in shares of Superior Energy Services during the first quarter worth $11,656,000. Stevens Capital Management LP acquired a new stake in shares of Superior Energy Services during the first quarter worth $827,000. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Superior Energy Services by 7.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,063,430 shares of the oil and gas company’s stock worth $8,965,000 after buying an additional 69,387 shares during the period.

In other Superior Energy Services news, CEO David D. Dunlap acquired 30,000 shares of the company’s stock in a transaction on Thursday, April 26th. The shares were purchased at an average cost of $10.89 per share, with a total value of $326,700.00. Following the completion of the purchase, the chief executive officer now owns 660,414 shares of the company’s stock, valued at $7,191,908.46. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.81% of the stock is currently owned by company insiders.

Several research firms have recently weighed in on SPN. ValuEngine upgraded shares of Superior Energy Services from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 9th. Citigroup increased their price objective on shares of Superior Energy Services from $9.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, April 30th. Wells Fargo upgraded shares of Superior Energy Services from a “market perform” rating to an “outperform” rating in a research report on Monday, April 30th. Barclays increased their price objective on shares of Superior Energy Services from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Friday, April 27th. Finally, Raymond James increased their price objective on shares of Superior Energy Services from $15.00 to $19.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 26th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Superior Energy Services presently has an average rating of “Hold” and an average price target of $13.43.

NYSE:SPN opened at $12.31 on Tuesday. The company has a quick ratio of 1.48, a current ratio of 1.86 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -7.46 and a beta of 2.05. Superior Energy Services, Inc. has a 12 month low of $7.66 and a 12 month high of $12.60.

Superior Energy Services (NYSE:SPN) last posted its quarterly earnings results on Tuesday, April 24th. The oil and gas company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. The business had revenue of $482.32 million during the quarter, compared to analysts’ expectations of $494.41 million. Superior Energy Services had a negative net margin of 8.90% and a negative return on equity of 19.29%. The business’s quarterly revenue was up 20.3% on a year-over-year basis. During the same period last year, the company posted ($0.59) earnings per share. research analysts anticipate that Superior Energy Services, Inc. will post -0.75 EPS for the current year.

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

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