Trading Report: The Bank of Montreal Can Acquires 152,490 Shares of Superior Energy Services Inc. (SPN)

The Bank of Montreal Can Acquires 152,490  Shares of Superior Energy Services Inc. (SPN)

Bank of Montreal Can bought a new position in Superior Energy Services Inc. (NYSE:SPN) during the second quarter, according to its most recent filing with the SEC. The firm bought 152,490 shares of the company’s stock, valued at approximately $2,808,000.

A number of other hedge funds have also added to or reduced their stakes in SPN. IBM Retirement Fund raised its position in shares of Superior Energy Services by 1.4% in the second quarter. IBM Retirement Fund now owns 15,179 shares of the company’s stock valued at $279,000 after buying an additional 211 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Superior Energy Services by 1.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,529,128 shares of the company’s stock valued at $60,645,000 after buying an additional 79,760 shares during the period. BlackRock Japan Co. Ltd raised its position in shares of Superior Energy Services by 21.5% in the first quarter. BlackRock Japan Co. Ltd now owns 60,991 shares of the company’s stock valued at $817,000 after buying an additional 10,800 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Superior Energy Services during the first quarter valued at about $1,397,000. Finally, Loomis Sayles & Co. L P raised its position in shares of Superior Energy Services by 1,055.5% in the first quarter. Loomis Sayles & Co. L P now owns 9,521 shares of the company’s stock valued at $127,000 after buying an additional 8,697 shares during the period.

Superior Energy Services Inc. (NYSE:SPN) traded down 1.12% during mid-day trading on Monday, hitting $17.64. 2,640,722 shares of the company traded hands. The firm’s market capitalization is $2.68 billion. The firm has a 50 day moving average of $16.68 and a 200 day moving average of $16.68. Superior Energy Services Inc. has a one year low of $8.25 and a one year high of $19.83.

Superior Energy Services (NYSE:SPN) last released its quarterly earnings results on Monday, July 25th. The company reported ($0.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.05. Superior Energy Services had a negative net margin of 84.36% and a negative return on equity of 13.55%. The company had revenue of $356.30 million for the quarter, compared to analyst estimates of $367.73 million. During the same period last year, the firm earned ($0.31) earnings per share. The firm’s revenue was down 49.9% on a year-over-year basis. Equities research analysts expect that Superior Energy Services Inc. will post ($2.13) earnings per share for the current fiscal year.

Several brokerages have recently issued reports on SPN. Imperial Capital decreased their price target on shares of Superior Energy Services from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Seaport Global Securities reissued a “buy” rating on shares of Superior Energy Services in a report on Friday, August 19th. Stephens reissued a “top pick” rating on shares of Superior Energy Services in a report on Friday, July 15th. Jefferies Group reissued a “buy” rating and issued a $21.00 price target (down previously from $22.00) on shares of Superior Energy Services in a report on Monday, July 11th. Finally, Zacks Investment Research raised shares of Superior Energy Services from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Thursday, June 30th. Eight investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $17.01.

Superior Energy Services Company Profile

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