Nikko Asset Management Americas buys $12,802,959 stake in Superior Energy Services (SPN)

Superior Energy Services (SPN) : Nikko Asset Management Americas scooped up 141,000 additional shares in Superior Energy Services during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 19, 2016. The investment management firm now holds a total of 710,092 shares of Superior Energy Services which is valued at $12,802,959.Superior Energy Services makes up approximately 1.18% of Nikko Asset Management Americas’s portfolio.

Other Hedge Funds, Including , Nordea Investment Management Ab sold out all of its stake in SPN during the most recent quarter. The investment firm sold 500,031 shares of SPN which is valued $9,015,559. Fox Run Management L.l.c. sold out all of its stake in SPN during the most recent quarter. The investment firm sold 24,500 shares of SPN which is valued $441,735.Ferguson Wellman Capital Management Inc reduced its stake in SPN by selling 28,901 shares or 1.61% in the most recent quarter. The Hedge Fund company now holds 1,762,659 shares of SPN which is valued at $31,798,368. Superior Energy Services makes up approx 1.29% of Ferguson Wellman Capital Management Inc’s portfolio.Marathon Asset Management Llp boosted its stake in SPN in the latest quarter, The investment management firm added 32,991 additional shares and now holds a total of 1,816,441 shares of Superior Energy Services which is valued at $32,768,596. Superior Energy Services makes up approx 0.68% of Marathon Asset Management Llp’s portfolio.Private Asset Management Inc reduced its stake in SPN by selling 1,217 shares or 0.83% in the most recent quarter. The Hedge Fund company now holds 144,826 shares of SPN which is valued at $2,641,626. Superior Energy Services makes up approx 0.46% of Private Asset Management Inc’s portfolio.

Superior Energy Services opened for trading at $17.64 and hit $18.14 on the upside on Wednesday, eventually ending the session at $18.03, with a gain of 1.41% or 0.25 points. The heightened volatility saw the trading volume jump to 41,55,723 shares. Company has a market cap of $2,730 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. Superior Energy Services was Initiated by Macquarie to “Neutral” on Jul 15, 2016. Company shares were Upgraded by Imperial Capital on Jul 15, 2016 to ” Outperform”, Firm has raised the Price Target to $ 23 from a previous price target of $15 .Company shares were Reiterated by RBC Capital Mkts on Jun 16, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 20 from a previous price target of $18 .

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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