Schwab Charles Investment Management Inc Increased Superior Energy Svcs Inc (NYSE:SPN) Stake by $12.30 Million

August 12, 2018 - By Joseph Norton

Superior Energy Services, Inc. (NYSE:SPN) LogoInvestors sentiment increased to 1.09 in 2018 Q1. Its up 0.10, from 0.99 in 2017Q4. It improved, as 23 investors sold SPN shares while 79 reduced holdings. 36 funds opened positions while 75 raised stakes. 155.42 million shares or 2.87% more from 151.09 million shares in 2017Q4 were reported. Pub Employees Retirement Association Of Colorado owns 0% invested in Superior Energy Services, Inc. (NYSE:SPN) for 28,305 shares. Jefferies Gp Lc has 0% invested in Superior Energy Services, Inc. (NYSE:SPN) for 13,394 shares. Morgan Stanley has 0% invested in Superior Energy Services, Inc. (NYSE:SPN) for 957,815 shares. 14,975 are owned by Riverhead Cap Mgmt Ltd Limited Liability Company. Congress Asset Mgmt Ma, Massachusetts-based fund reported 124,830 shares. California State Teachers Retirement stated it has 0% of its portfolio in Superior Energy Services, Inc. (NYSE:SPN). Parkside Natl Bank & holds 1,473 shares or 0% of its portfolio. State Treasurer State Of Michigan holds 56,200 shares or 0% of its portfolio. Tiaa Cref Inv Mgmt Ltd Co invested 0% of its portfolio in Superior Energy Services, Inc. (NYSE:SPN). Teachers Retirement Systems Of The State Of Kentucky has invested 0% in Superior Energy Services, Inc. (NYSE:SPN). Liberty Mutual Grp Incorporated Asset Incorporated holds 0.01% or 30,150 shares. Encompass Cap Lc reported 778,400 shares. Castleark Mngmt Limited Liability has invested 0.02% in Superior Energy Services, Inc. (NYSE:SPN). Stratos Wealth Prtnrs Limited holds 0% or 908 shares in its portfolio. California Employees Retirement accumulated 542,987 shares.

Since April 26, 2018, it had 1 insider buy, and 0 insider sales for $326,700 activity.

Schwab Charles Investment Management Inc increased its stake in Superior Energy Svcs Inc (NYSE:SPN) by 128.53% based on its latest 2018Q2 regulatory filing with the SEC. Schwab Charles Investment Management Inc bought 1.37 million shares as the company’s stock rose 20.49% while stock markets declined. The institutional investor held 2.43M shares of the energy company at the end of 2018Q2, valued at $23.67M, up from 1.06M at the end of the previous reported quarter. Schwab Charles Investment Management Inc who had been investing in Superior Energy Svcs Inc for a number of months, seems to be bullish on the $1.50B market cap company. The stock increased 2.76% or $0.26 during the last trading session, reaching $9.68. About 1.19 million shares traded. Superior Energy Services, Inc. (NYSE:SPN) has risen 4.37% since August 13, 2017 and is uptrending. It has underperformed by 8.20% the S&P500.

Schwab Charles Investment Management Inc, which manages about $137.28B US Long portfolio, decreased its stake in On Semiconductor Corp (ONNN) by 1.44M shares to 1.66M shares, valued at $36.80 million in 2018Q2, according to the filing. It also reduced its holding in T Mobile Us Inc (NYSE:TMUS) by 266,406 shares in the quarter, leaving it with 766,673 shares, and cut its stake in Grubhub Inc (NYSE:GRUB).

Schwab Charles Investment Management Inc is a California-based institutional investor with more than $248.00 billion AUM in March, 2014. This fund invests only a small percentage of its assets in equities and options. Schwab Charles Investment Management Inc is the 13th largest institutional investor in our database. Taken from Schwab Charles Investment Management latest Adv, the fund reported to have 200 full and part-time employees. Among which 69 performing investment advisory and research functions. The institutional investor had more than 1400 clients.

Superior Energy Services, Inc. (NYSE:SPN) Ratings Coverage

Among 12 analysts covering Superior Energy Services (NYSE:SPN), 6 have Buy rating, 1 Sell and 5 Hold. Therefore 50% are positive. Superior Energy Services had 16 analyst reports since February 13, 2018 according to SRatingsIntel. Wells Fargo upgraded it to “Buy” rating and $1300 target in Monday, April 30 report. Barclays Capital maintained Superior Energy Services, Inc. (NYSE:SPN) on Friday, April 27 with “Equal-Weight” rating. The firm has “Buy” rating given on Thursday, April 26 by Cowen & Co. The firm has “Hold” rating given on Wednesday, April 25 by Jefferies. Credit Suisse maintained it with “Outperform” rating and $10 target in Thursday, July 26 report. Morgan Stanley downgraded Superior Energy Services, Inc. (NYSE:SPN) on Thursday, July 12 to “Underweight” rating. The firm earned “Neutral” rating on Wednesday, February 21 by JP Morgan. The stock of Superior Energy Services, Inc. (NYSE:SPN) has “Outperform” rating given on Wednesday, February 21 by Credit Suisse. The rating was maintained by Citigroup with “Neutral” on Tuesday, February 13. The stock has “Strong Buy” rating by Raymond James on Thursday, April 26.

Superior Energy Services, Inc. provides specialized oilfield services and equipment to natural gas and crude oil exploration and production companies in the United States, the Gulf of Mexico, and internationally. The company has market cap of $1.50 billion. It operates through four divisions: Drilling Products and Services; Onshore Completion and Workover Services; Production Services; and Technical Solutions. It currently has negative earnings. The Drilling Products and Services segment rents tubulars, including primary drill pipe strings, tubing landing strings, completion tubulars, and associated accessories; and makes and rents bottom hole tools, such as stabilizers, non-magnetic drill collars, and hole openers, as well as rents temporary onshore and offshore accommodation modules and accessories.

Superior Energy Services, Inc. (NYSE:SPN) Institutional Positions Chart

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