Hermes Investment Management Ltd. Lowers Stake in Superior Energy Services, Inc. (NYSE:SPN)

Hermes Investment Management Ltd. decreased its position in shares of Superior Energy Services, Inc. (NYSE:SPN) by 6.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,529,898 shares of the oil and gas company’s stock after selling 97,675 shares during the period. Hermes Investment Management Ltd. owned approximately 1.00% of Superior Energy Services worth $15,957,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SPN. BlackRock Inc. raised its stake in Superior Energy Services by 10,301.4% in the first quarter. BlackRock Inc. now owns 23,424,814 shares of the oil and gas company’s stock worth $334,036,000 after buying an additional 23,199,606 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new stake in Superior Energy Services during the first quarter worth $18,987,000. Anchor Capital Advisors LLC bought a new stake in Superior Energy Services during the first quarter worth $16,380,000. Norges Bank bought a new stake in Superior Energy Services during the fourth quarter worth $18,930,000. Finally, GMT Capital Corp raised its stake in Superior Energy Services by 380.1% in the first quarter. GMT Capital Corp now owns 1,400,530 shares of the oil and gas company’s stock worth $19,972,000 after buying an additional 1,108,800 shares during the period.

Superior Energy Services, Inc. (SPN) opened at 9.07 on Friday. Superior Energy Services, Inc. has a 12 month low of $8.90 and a 12 month high of $19.39. The stock’s market capitalization is $1.39 billion. The firm has a 50-day moving average price of $10.41 and a 200 day moving average price of $12.88.

Superior Energy Services (NYSE:SPN) last announced its quarterly earnings data on Tuesday, July 25th. The oil and gas company reported ($0.41) earnings per share for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $470.07 million for the quarter, compared to analyst estimates of $465.75 million. During the same quarter in the previous year, the company earned ($3.09) EPS. The firm’s revenue for the quarter was up 31.9% compared to the same quarter last year. Equities analysts anticipate that Superior Energy Services, Inc. will post ($1.57) earnings per share for the current year.

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SPN has been the subject of a number of recent analyst reports. Jefferies Group LLC restated a “hold” rating and set a $19.00 target price on shares of Superior Energy Services in a report on Tuesday, April 25th. Nomura set a $13.00 target price on Superior Energy Services and gave the company a “hold” rating in a report on Thursday, April 27th. Deutsche Bank AG decreased their target price on Superior Energy Services from $26.00 to $22.00 and set a “buy” rating for the company in a report on Friday, April 28th. Barclays PLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Superior Energy Services in a report on Friday, April 28th. Finally, Instinet reiterated a “neutral” rating and issued a $13.00 price objective (down previously from $15.00) on shares of Superior Energy Services in a report on Saturday, April 29th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $16.50.

Superior Energy Services Company Profile

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

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