Legal & General Group Plc grew its position in shares of Superior Energy Services, Inc. (NYSE:SPN) by 86.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 456,017 shares of the oil and gas company’s stock after acquiring an additional 211,965 shares during the quarter. Legal & General Group Plc owned 0.30% of Superior Energy Services worth $1,520,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Texas Permanent School Fund boosted its position in Superior Energy Services by 4.0% during the 4th quarter. Texas Permanent School Fund now owns 101,123 shares of the oil and gas company’s stock worth $339,000 after acquiring an additional 3,895 shares during the last quarter. Quantamental Technologies LLC acquired a new position in Superior Energy Services during the 4th quarter worth approximately $25,000. PNC Financial Services Group Inc. boosted its position in Superior Energy Services by 96.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 16,005 shares of the oil and gas company’s stock worth $156,000 after acquiring an additional 7,848 shares during the last quarter. Virtu Financial LLC boosted its position in Superior Energy Services by 42.1% during the 4th quarter. Virtu Financial LLC now owns 27,821 shares of the oil and gas company’s stock worth $93,000 after acquiring an additional 8,237 shares during the last quarter. Finally, Advisor Partners LLC acquired a new position in Superior Energy Services during the 4th quarter worth approximately $42,000.
In other Superior Energy Services news, Director James M. Funk purchased 10,000 shares of the business’s stock in a transaction on Monday, March 11th. The stock was acquired at an average price of $4.29 per share, with a total value of $42,900.00. Following the acquisition, the director now directly owns 32,179 shares of the company’s stock, valued at approximately $138,047.91. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.81% of the company’s stock.
SPN has been the subject of several recent analyst reports. Zacks Investment Research downgraded Superior Energy Services from a “buy” rating to a “hold” rating in a report on Saturday. Raymond James set a $8.00 price objective on Superior Energy Services and gave the company a “buy” rating in a report on Wednesday. Jefferies Financial Group raised Superior Energy Services from an “underperform” rating to a “hold” rating and increased their price objective for the company from $3.00 to $4.00 in a report on Friday, March 15th. Goldman Sachs Group initiated coverage on Superior Energy Services in a report on Sunday, March 10th. They issued a “neutral” rating and a $5.50 price objective for the company. Finally, ValuEngine raised Superior Energy Services from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company’s stock. Superior Energy Services has an average rating of “Hold” and a consensus target price of $8.61.
Shares of Superior Energy Services stock opened at $4.79 on Friday. Superior Energy Services, Inc. has a 1 year low of $2.87 and a 1 year high of $12.73. The firm has a market cap of $746.91 million, a price-to-earnings ratio of -5.32 and a beta of 2.35. The company has a debt-to-equity ratio of 4.41, a current ratio of 2.13 and a quick ratio of 1.80.
Superior Energy Services (NYSE:SPN) last announced its quarterly earnings results on Monday, February 18th. The oil and gas company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.08. Superior Energy Services had a negative return on equity of 15.11% and a negative net margin of 40.28%. The business had revenue of $539.33 million during the quarter, compared to the consensus estimate of $514.64 million. During the same quarter last year, the firm posted ($0.33) EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. On average, sell-side analysts forecast that Superior Energy Services, Inc. will post -0.75 EPS for the current fiscal year.
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Superior Energy Services Company Profile
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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