Trading Report: Today, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Raises Stake in Superior Energy Services, Inc. (SPN)

Today, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Raises Stake in Superior Energy Services, Inc. (SPN)

Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its position in Superior Energy Services, Inc. (NYSE:SPN) by 36.9% during the third quarter, Holdings Channel reports. The fund owned 184,680 shares of the company’s stock after buying an additional 49,765 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned approximately 0.12% of Superior Energy Services worth $3,306,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPN. Washington Trust Bank increased its position in Superior Energy Services by 0.3% in the third quarter. Washington Trust Bank now owns 9,832 shares of the company’s stock worth $176,000 after buying an additional 32 shares in the last quarter. IBM Retirement Fund increased its position in Superior Energy Services by 1.4% in the second quarter. IBM Retirement Fund now owns 15,179 shares of the company’s stock worth $279,000 after buying an additional 211 shares in the last quarter. First Citizens Bank & Trust Co. increased its position in Superior Energy Services by 1.7% in the third quarter. First Citizens Bank & Trust Co. now owns 16,091 shares of the company’s stock worth $288,000 after buying an additional 276 shares in the last quarter. IndexIQ Advisors LLC increased its position in Superior Energy Services by 5.3% in the second quarter. IndexIQ Advisors LLC now owns 5,846 shares of the company’s stock worth $108,000 after buying an additional 293 shares in the last quarter. Finally, State Treasurer State of Michigan increased its position in Superior Energy Services by 0.7% in the second quarter. State Treasurer State of Michigan now owns 60,800 shares of the company’s stock worth $1,119,000 after buying an additional 400 shares in the last quarter.

Superior Energy Services, Inc. (NYSE:SPN) traded down 0.25% during trading on Friday, hitting $15.83. The stock had a trading volume of 775,818 shares. Superior Energy Services, Inc. has a 52 week low of $8.25 and a 52 week high of $19.83. The company has a 50-day moving average of $16.22 and a 200-day moving average of $16.86. The stock’s market capitalization is $2.40 billion.

Superior Energy Services (NYSE:SPN) last released its earnings results on Monday, October 24th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by $0.16. The business earned $326.23 million during the quarter, compared to the consensus estimate 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 business’s revenue was down 45.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.46) earnings per share. On average, equities analysts expect that Superior Energy Services, Inc. will post ($2.50) earnings per share for the current fiscal year.

A number of research analysts have weighed in on the company. Citigroup Inc. raised their price target on Superior Energy Services from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, October 11th. Jefferies Group set a $22.00 price target on Superior Energy Services and gave the company a “buy” rating in a research note on Monday, October 24th. Seaport Global Securities restated a “buy” rating on shares of Superior Energy Services in a research note on Friday, August 19th. Zacks Investment Research downgraded Superior Energy Services from a “hold” rating to a “sell” rating in a research note on Wednesday, October 19th. Finally, Nomura set a $15.00 price target on Superior Energy Services and gave the company a “hold” rating in a research note on Tuesday, August 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $16.37.

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