RBC Capital Keeps a Hold Rating on Superior Energy Services (SPN)

By Jason Carr

RBC Capital analyst Kurt Hallead maintained a Hold rating on Superior Energy Services (SPNResearch Report) on April 3 and set a price target of $1.75. The company’s shares closed last Friday at $1.43, close to its 52-week low of $0.70.

According to TipRanks.com, Hallead is ranked 0 out of 5 stars with an average return of -20.2% and a 26.2% success rate. Hallead covers the Basic Materials sector, focusing on stocks such as Independence Contract Drilling, Diamond Offshore Drilling, and Oceaneering International.

Currently, the analyst consensus on Superior Energy Services is a Moderate Sell with an average price target of $2.50.

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Based on Superior Energy Services’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $96.16 million and GAAP net loss of $98.53 million. In comparison, last year the company had a GAAP net loss of $750 million.

Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SPN in relation to earlier this year.

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Superior Energy Services, Inc. engages in the provision of oilfield services and equipment. It operates through the following business segments: Drilling Products & Services, Onshore Completion & Workover Services, Production Services and Technical Solutions. The Drilling Products and Services segment provides downhole drilling tools and surface rentals. The Onshore Completion and Workover Services segment offers pressure pumping, fluid management and workover services. The Production Services segment gives intervention services. The Technical Solutions segment involves in the products and services that generally address customer-specific needs with applications, which typically require specialized engineering, manufacturing, or project planning expertise. The company was founded by Terence E. Hall in 1989 and is headquartered in Houston, TX.