James M. Funk Purchases 5,000 Shares of Superior Energy Services, Inc. (SPN) Stock

Superior Energy Services, Inc. (NYSE:SPN) Director James M. Funk purchased 5,000 shares of Superior Energy Services stock in a transaction dated Thursday, November 1st. The stock was bought at an average price of $7.98 per share, with a total value of $39,900.00. Following the acquisition, the director now directly owns 16,961 shares of the company’s stock, valued at $135,348.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of SPN opened at $8.10 on Friday. Superior Energy Services, Inc. has a 12 month low of $7.28 and a 12 month high of $12.73. The company has a current ratio of 2.03, a quick ratio of 1.65 and a debt-to-equity ratio of 1.24.

Superior Energy Services (NYSE:SPN) last announced its earnings results on Monday, October 22nd. The oil and gas company reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.02). Superior Energy Services had a negative return on equity of 14.06% and a negative net margin of 4.76%. The business had revenue of $573.07 million for the quarter, compared to analyst estimates of $563.47 million. During the same quarter in the previous year, the company posted ($0.33) EPS. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. On average, equities research analysts expect that Superior Energy Services, Inc. will post -0.9 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tygh Capital Management Inc. raised its position in Superior Energy Services by 1.1% during the second quarter. Tygh Capital Management Inc. now owns 477,454 shares of the oil and gas company’s stock worth $4,650,000 after acquiring an additional 5,396 shares in the last quarter. Mutual of America Capital Management LLC raised its position in Superior Energy Services by 4.5% during the second quarter. Mutual of America Capital Management LLC now owns 133,123 shares of the oil and gas company’s stock worth $1,297,000 after acquiring an additional 5,692 shares in the last quarter. Guggenheim Capital LLC raised its position in Superior Energy Services by 2.7% during the first quarter. Guggenheim Capital LLC now owns 247,292 shares of the oil and gas company’s stock worth $2,085,000 after acquiring an additional 6,540 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Superior Energy Services by 28.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 35,453 shares of the oil and gas company’s stock worth $345,000 after acquiring an additional 7,824 shares in the last quarter. Finally, Glen Harbor Capital Management LLC raised its position in Superior Energy Services by 58.3% during the second quarter. Glen Harbor Capital Management LLC now owns 21,328 shares of the oil and gas company’s stock worth $208,000 after acquiring an additional 7,856 shares in the last quarter.

SPN has been the subject of several research analyst reports. ValuEngine cut shares of Superior Energy Services from a “hold” rating to a “sell” rating in a report on Tuesday, September 4th. Cleveland Research cut shares of Superior Energy Services from a “buy” rating to a “neutral” rating in a report on Thursday, October 18th. Morgan Stanley cut shares of Superior Energy Services from an “equal weight” rating to an “underweight” rating in a report on Thursday, July 12th. JPMorgan Chase & Co. reduced their price target on shares of Superior Energy Services from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, September 17th. Finally, Zacks Investment Research cut shares of Superior Energy Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 18th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $11.76.

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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