Superior Energy Services, Inc. (SPN) Position Increased by Principal Financial Group Inc.

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Principal Financial Group Inc. increased its holdings in Superior Energy Services, Inc. (NYSE:SPN) by 3.5% during the 1st quarter, Holdings Channel reports. The firm owned 669,017 shares of the oil and gas company’s stock after buying an additional 22,627 shares during the period. Principal Financial Group Inc.’s holdings in Superior Energy Services were worth $5,640,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vertex One Asset Management Inc. bought a new stake in shares of Superior Energy Services in the first quarter worth about $118,000. Signition LP bought a new stake in shares of Superior Energy Services in the first quarter worth about $120,000. Teza Capital Management LLC bought a new stake in shares of Superior Energy Services in the first quarter worth about $146,000. Thompson Siegel & Walmsley LLC bought a new stake in shares of Superior Energy Services in the first quarter worth about $158,000. Finally, Element Capital Management LLC bought a new stake in shares of Superior Energy Services in the first quarter worth about $161,000.

Superior Energy Services stock opened at $9.23 on Tuesday. The company has a current ratio of 1.97, a quick ratio of 1.56 and a debt-to-equity ratio of 1.22. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -5.51 and a beta of 2.14. Superior Energy Services, Inc. has a fifty-two week low of $7.66 and a fifty-two week high of $12.73.

Superior Energy Services (NYSE:SPN) last posted its quarterly earnings data on Tuesday, July 24th. The oil and gas company reported ($0.16) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.06. The business had revenue of $553.55 million for the quarter, compared to analysts’ expectations of $532.07 million. Superior Energy Services had a negative return on equity of 16.43% and a negative net margin of 6.76%. The business’s revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.41) EPS. analysts forecast that Superior Energy Services, Inc. will post -0.79 earnings per share for the current year.

Several research firms recently issued reports on SPN. Zacks Investment Research raised Superior Energy Services from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. Citigroup raised their target price on Superior Energy Services from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, April 30th. SunTrust Banks reissued a “buy” rating and issued a $12.00 target price on shares of Superior Energy Services in a research note on Friday, July 27th. Capital One Financial reissued an “overweight” rating on shares of Superior Energy Services in a research note on Wednesday, July 25th. Finally, ValuEngine raised Superior Energy Services from a “sell” rating to a “hold” rating in a research note on Friday, June 22nd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $12.25.

Superior Energy Services Company Profile

Superior Energy Services, Inc provides oilfield services and equipment to oil and natural gas exploration and production companies in the United States, the Gulf of Mexico, and internationally. The company operates in four segments: Drilling Products and Services, Onshore Completion and Workover Services, Production Services, and Technical Solutions.

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

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