Bp Capital Fund Advisors buys $8.3 Million stake in Superior Energy Services (SPN)

Superior Energy Services (SPN) : Bp Capital Fund Advisors scooped up 135,221 additional shares in Superior Energy Services during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 547,266 shares of Superior Energy Services which is valued at $8.3 Million.Superior Energy Services makes up approximately 3.97% of Bp Capital Fund Advisors’s portfolio.

Other Hedge Funds, Including , Gsa Capital Partners Llp sold out all of its stake in SPN during the most recent quarter. The investment firm sold 48,340 shares of SPN which is valued $732,351.Proshare Advisors boosted its stake in SPN in the latest quarter, The investment management firm added 3,817 additional shares and now holds a total of 30,596 shares of Superior Energy Services which is valued at $483,417. Superior Energy Services makes up approx 0.01% of Proshare Advisors’s portfolio.Fiduciary Management Associates reduced its stake in SPN by selling 89,950 shares or 9.65% in the most recent quarter. The Hedge Fund company now holds 842,555 shares of SPN which is valued at $13.3 Million. Superior Energy Services makes up approx 0.88% of Fiduciary Management Associates’s portfolio.Dupont Capital Management Corp reduced its stake in SPN by selling 83,800 shares or 74.69% in the most recent quarter. The Hedge Fund company now holds 28,400 shares of SPN which is valued at $478,824. Superior Energy Services makes up approx 0.01% of Dupont Capital Management Corp’s portfolio.

Superior Energy Services opened for trading at $16.31 and hit $17.2 on the upside on Wednesday, eventually ending the session at $17.14, with a gain of 6.53% or 1.05 points. The heightened volatility saw the trading volume jump to 27,61,714 shares. Company has a market cap of $2,595 M.

On the company’s financial health, Superior Energy Services reported $-0.49 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $-0.60. The company had revenue of $413.10 million for the quarter, compared to analysts expectations of $448.45 million. The company’s revenue was down -55.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.01 EPS.

Many Wall Street Analysts have commented on Superior Energy Services. Company shares were Reiterated by Imperial Capital on May 3, 2016 to “In-line”, Firm has raised the Price Target to $ 15 from a previous price target of $10 .Company shares were Reiterated by Cowen on May 3, 2016 to “Outperform”, Firm has raised the Price Target to $ 20 from a previous price target of $17 .Superior Energy Services was Upgraded by Citigroup to ” Buy” on May 3, 2016.

Superior Energy Services Inc. is engaged in exploration development and production of oil and natural gas. The Company serves national and independent oil and natural gas companies around the world. Its segments include Drilling Products and Services Onshore Completion and Workover Services Production Services and Technical Solutions. The Drilling Products and Services segment includes downhole drilling tools and surface rentals. The Onshore Completion and Workover Services segment includes pressure pumping fluid handling and workover and maintenance services. The Production Services segment includes intervention services and specialized pressure-control tools used for pressure control and intervention operations. The Technical Solutions segment includes products and services that address customer-specific needs with their applications for specialized engineering manufacturing or project planning.

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