Ferguson Wellman Capital Management Inc Lowers stake in Superior Energy Services (SPN)

Superior Energy Services (SPN) : Ferguson Wellman Capital Management Inc reduced its stake in Superior Energy Services by 1.61% during the most recent quarter end. The investment management company now holds a total of 1,762,659 shares of Superior Energy Services which is valued at $31,798,368 after selling 28,901 shares in Superior Energy Services , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.Superior Energy Services makes up approximately 1.29% of Ferguson Wellman Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Gradient Investments boosted its stake in SPN in the latest quarter, The investment management firm added 12,952 additional shares and now holds a total of 31,727 shares of Superior Energy Services which is valued at $572,355. Superior Energy Services makes up approx 0.06% of Gradient Investments’s portfolio.Marathon Asset Management Llp boosted its stake in SPN in the latest quarter, The investment management firm added 32,991 additional shares and now holds a total of 1,816,441 shares of Superior Energy Services which is valued at $32,768,596. Superior Energy Services makes up approx 0.68% of Marathon Asset Management Llp’s portfolio.Creative Planning boosted its stake in SPN in the latest quarter, The investment management firm added 131 additional shares and now holds a total of 1,078 shares of Superior Energy Services which is valued at $19,533.Washington Trust Bank boosted its stake in SPN in the latest quarter, The investment management firm added 700 additional shares and now holds a total of 9,800 shares of Superior Energy Services which is valued at $178,752. Superior Energy Services makes up approx 0.05% of Washington Trust Bank’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in SPN by selling 48,989 shares or 42.9% in the most recent quarter. The Hedge Fund company now holds 65,196 shares of SPN which is valued at $1,189,175. Superior Energy Services makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.

Superior Energy Services (SPN) witnessed a volatile trading activity on Monday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $17.89 and reached the intraday high at $18.06. The bulls started the profit booking and pushed the shares to intraday low of $17.71. The trading session was marked by a volume range of 18,45,923 shares exchanging hands. The 52-week high of the shares is $19.83 and the 52-week low is $8.25. The market cap of the company stands at $2,731 M and there are 15,14,12,230 shares in public circulation.

On the company’s financial health, Superior Energy Services reported $-0.49 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $-0.60. The company had revenue of $413.10 million for the quarter, compared to analysts expectations of $448.45 million. The company’s revenue was down -55.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.01 EPS.

Many Wall Street Analysts have commented on Superior Energy Services. Superior Energy Services was Initiated by Macquarie to “Neutral” on Jul 15, 2016. Company shares were Upgraded by Imperial Capital on Jul 15, 2016 to ” Outperform”, Firm has raised the Price Target to $ 23 from a previous price target of $15 .Company shares were Reiterated by RBC Capital Mkts on Jun 16, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 20 from a previous price target of $18 .

Superior Energy Services Inc. is engaged in exploration development and production of oil and natural gas. The Company serves national and independent oil and natural gas companies around the world. Its segments include Drilling Products and Services Onshore Completion and Workover Services Production Services and Technical Solutions. The Drilling Products and Services segment includes downhole drilling tools and surface rentals. The Onshore Completion and Workover Services segment includes pressure pumping fluid handling and workover and maintenance services. The Production Services segment includes intervention services and specialized pressure-control tools used for pressure control and intervention operations. The Technical Solutions segment includes products and services that address customer-specific needs with their applications for specialized engineering manufacturing or project planning.

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