Trading Report: Today, Pzena Investment Management LLC cuts its investment of stake in Superior Energy Services, Inc. (SPN)

Today, Pzena Investment Management LLC cuts its investment of stake in Superior Energy Services, Inc. (SPN)

Pzena Investment Management LLC lowered its position in Superior Energy Services, Inc. (NYSE:SPN) by 5.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,016,036 shares of the company’s stock after selling 248,379 shares during the period. Pzena Investment Management LLC owned 2.65% of Superior Energy Services worth $71,887,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SPN. Vanguard Group Inc. raised its stake in shares of Superior Energy Services by 3.9% in the second quarter. Vanguard Group Inc. now owns 11,242,025 shares of the company’s stock worth $206,966,000 after buying an additional 419,893 shares during the period. Victory Capital Management Inc. raised its stake in shares of Superior Energy Services by 89.8% in the third quarter. Victory Capital Management Inc. now owns 7,575,774 shares of the company’s stock valued at $135,607,000 after buying an additional 3,583,598 shares during the last quarter. FMR LLC raised its stake in shares of Superior Energy Services by 10.6% in the second quarter. FMR LLC now owns 7,020,066 shares of the company’s stock valued at $129,239,000 after buying an additional 673,100 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Superior Energy Services by 3.2% in the second quarter. BlackRock Fund Advisors now owns 5,828,371 shares of the company’s stock valued at $107,300,000 after buying an additional 179,772 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Superior Energy Services by 2.8% in the third quarter. Bank of New York Mellon Corp now owns 5,042,639 shares of the company’s stock valued at $90,263,000 after buying an additional 135,277 shares during the last quarter.

Superior Energy Services, Inc. (NYSE:SPN) opened at 15.87 on Friday. Superior Energy Services, Inc. has a 52-week low of $8.25 and a 52-week high of $19.83. The firm’s 50-day moving average price is $16.36 and its 200-day moving average price is $16.86. The company’s market cap is $2.41 billion.

Superior Energy Services (NYSE:SPN) last issued its quarterly earnings data on Monday, October 24th. The company reported ($0.73) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.57) by $0.16. The firm had revenue of $326.23 million for the quarter, compared to analysts’ expectations of $356.73 million. Superior Energy Services had a negative net margin of 55.65% and a negative return on equity of 17.51%. The company’s revenue for the quarter was down 45.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.46) EPS. On average, equities analysts anticipate that Superior Energy Services, Inc. will post ($2.50) EPS for the current year.

Several analysts have issued reports on SPN shares. Citigroup Inc. restated a “buy” rating and issued a $21.00 target price on shares of Superior Energy Services in a research note on Wednesday, October 5th. Loop Capital started coverage on Superior Energy Services in a research note on Friday, September 30th. They issued a “buy” rating on the stock. Seaport Global Securities restated a “buy” rating on shares of Superior Energy Services in a research note on Friday, August 19th. Jefferies Group set a $22.00 target price on Superior Energy Services and gave the company a “buy” rating in a research note on Monday, October 24th. Finally, Howard Weil lowered Superior Energy Services from a “focus stock” rating to a “sector outperform” rating and lowered their target price for the company from $25.00 to $20.00 in a research note on Wednesday, October 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $16.37.

Superior Energy Services Company Profile

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