Superior Energy Services (SPN) Gets a Hold Rating from RBC Capital

By Jason Carr

RBC Capital analyst Kurt Hallead maintained a Hold rating on Superior Energy Services (SPNResearch Report) on March 16 and set a price target of $3.00. The company’s shares closed last Monday at $1.69, close to its 52-week low of $0.70.

According to TipRanks.com, Hallead has currently no stars on a ranking scale of 0-5 stars, with an average return of -20.8% and a 25.8% success rate. Hallead covers the Basic Materials sector, focusing on stocks such as Independence Contract Drilling, Diamond Offshore Drilling, and Oceaneering International.

The word on The Street in general, suggests a Hold analyst consensus rating for Superior Energy Services with a $2.50 average price target, implying a 45.3% upside from current levels. In a report issued on March 9, Evercore ISI also downgraded the stock to Hold.

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The company has a one-year high of $52.20 and a one-year low of $0.70. Currently, Superior Energy Services has an average volume of 303.7K.

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 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.