Superior Energy Services (SPN) : Viking Fund Management scooped up 100,000 additional shares in Superior Energy Services during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 13, 2016. The investment management firm now holds a total of 1,480,000 shares of Superior Energy Services which is valued at $27,217,200.Superior Energy Services makes up approximately 4.38% of Viking Fund Management’s portfolio.
Other Hedge Funds, Including , Msi Financial Services Inc reduced its stake in SPN by selling 9 shares or 1.07% in the most recent quarter. The Hedge Fund company now holds 831 shares of SPN which is valued at $15,282.Legal General Group Plc boosted its stake in SPN in the latest quarter, The investment management firm added 10,457 additional shares and now holds a total of 186,987 shares of Superior Energy Services which is valued at $3,386,335.Gradient Investments boosted its stake in SPN in the latest quarter, The investment management firm added 8,438 additional shares and now holds a total of 40,165 shares of Superior Energy Services which is valued at $745,462. Superior Energy Services makes up approx 0.07% of Gradient Investments’s portfolio.Oregon Public Employees Retirement Fund reduced its stake in SPN by selling 24,141 shares or 31.53% in the most recent quarter. The Hedge Fund company now holds 52,414 shares of SPN which is valued at $972,804. Superior Energy Services makes up approx 0.02% of Oregon Public Employees Retirement Fund’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in SPN by selling 47,627 shares or 73.05% in the most recent quarter. The Hedge Fund company now holds 17,569 shares of SPN which is valued at $325,905.
Superior Energy Services closed down -0.45 points or -2.42% at $18.11 with 30,99,404 shares getting traded on Tuesday. Post opening the session at $18.36, the shares hit an intraday low of $17.925 and an intraday high of $18.42 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
On the company’s financial health, Superior Energy Services reported $-0.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 25, 2016. Analyst had a consensus of $-0.57. The company had revenue of $356.30 million for the quarter, compared to analysts expectations of $365.86 million. The company’s revenue was down -49.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.31 EPS.
Many Wall Street Analysts have commented on Superior Energy Services. Shares were Reiterated by Scotia Howard Weil on Jul 27, 2016 to “Focus Stock” and Lowered the Price Target to $ 25 from a previous price target of $27 .Shares were Reiterated by Imperial Capital on Jul 27, 2016 to “Outperform” and Lowered the Price Target to $ 20 from a previous price target of $23 .
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.