Superior Energy Receives a Buy from Scotiabank

By Carrie Williams

Scotiabank analyst Blake Hutchinson maintained a Buy rating on Superior Energy (NYSE: SPN) yesterday and set a price target of $22. The company’s shares opened today at $11.43.

According to TipRanks.com, Hutchinson is ranked 0 out of 5 stars with an average return of -18.6% and a 11.9% success rate. Hutchinson covers the Basic Materials sector, focusing on stocks such as Oceaneering International, Oil States International, and Mcdermott International.

Currently, the analyst consensus on Superior Energy is Moderate Buy and the average price target is $14.86, representing a 30.0% upside.

In a report issued on July 25, Piper Jaffray also reiterated a Buy rating on the stock with a $13 price target.

The company has a one year high of $19.39 and a one year low of $8.99. Currently, Superior Energy has an average volume of 4.68M.

Based on the recent corporate insider activity of 18 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. Most recently, in May 2017, Brian K. Moore, the Senior Executive Vice Pres. of SPN bought 30,000 shares for a total of $362,100.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Superior Energy Services, Inc. provides oilfield services and equipment. It offers drilling, completion and production-related services worldwide through drilling products and well intervention services and tools.