Private Asset Management Inc. cut its holdings in shares of Superior Energy Services, Inc. (NYSE:SPN) by 99.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,287 shares of the oil and gas company’s stock after selling 126,667 shares during the period. Private Asset Management Inc.’s holdings in Superior Energy Services were worth $1,287,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Suntrust Banks Inc. purchased a new stake in shares of Superior Energy Services during the second quarter valued at $108,000. Washington Trust Bank boosted its position in shares of Superior Energy Services by 10.1% during the second quarter. Washington Trust Bank now owns 10,800 shares of the oil and gas company’s stock valued at $113,000 after buying an additional 990 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Superior Energy Services during the second quarter valued at $116,000. Oakbrook Investments LLC purchased a new stake in shares of Superior Energy Services during the second quarter valued at $118,000. Finally, Endurance Wealth Management Inc. boosted its position in shares of Superior Energy Services by 4.9% during the second quarter. Endurance Wealth Management Inc. now owns 11,565 shares of the oil and gas company’s stock valued at $121,000 after buying an additional 539 shares during the last quarter.

Several equities research analysts recently commented on SPN shares. Barclays PLC cut Superior Energy Services from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $18.00 to $11.00 in a research report on Wednesday, July 12th. ValuEngine cut Superior Energy Services from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Morgan Stanley reaffirmed an “equal weight” rating and set a $14.00 price objective (down from $30.00) on shares of Superior Energy Services in a research report on Wednesday, June 21st. Deutsche Bank AG reaffirmed a “buy” rating and set a $15.00 price objective (down from $22.00) on shares of Superior Energy Services in a research report on Thursday, July 27th. Finally, BidaskClub cut Superior Energy Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $15.72.

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Superior Energy Services, Inc. (SPN) traded down 3.19% on Wednesday, hitting $9.42. The stock had a trading volume of 1,916,186 shares. The company’s 50 day moving average is $9.89 and its 200-day moving average is $10.77. Superior Energy Services, Inc. has a 12 month low of $7.91 and a 12 month high of $19.39. The stock’s market cap is $1.44 billion.

Superior Energy Services (NYSE:SPN) last issued its earnings results on Tuesday, July 25th. The oil and gas company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.07. Superior Energy Services had a negative return on equity of 28.82% and a negative net margin of 31.24%. The firm had revenue of $470.07 million for the quarter, compared to the consensus estimate of $465.75 million. During the same quarter in the prior year, the business earned ($3.09) earnings per share. The company’s revenue was up 31.9% compared to the same quarter last year. Analysts forecast that Superior Energy Services, Inc. will post ($1.60) EPS for the current year.

Superior Energy Services Company Profile

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

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