Cowen & Co. Remains a Hold on Superior Energy (SPN)
In a report released today, Marc Bianchi from Cowen & Co. reiterated a Hold rating on Superior Energy (SPN), with a price target of $5. The company’s shares closed yesterday at $5.03.
According to TipRanks.com, Bianchi is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -13.9% and a 26.1% success rate. Bianchi covers the Basic Materials sector, focusing on stocks such as Covia Holdings Corporation, Propetro Holding Corp, and US Silica Holdings.
The word on The Street in general, suggests a Hold analyst consensus rating for Superior Energy with a $6.55 average price target, implying a 30.2% upside from current levels. In a report issued on February 20, RBC Capital also maintained a Hold rating on the stock with a $13 price target.
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The company has a one-year high of $12.73 and a one-year low of $2.87. Currently, Superior Energy has an average volume of 3.88M.
Based on the recent corporate insider activity of 17 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 and Services; Onshore Completion and Workover Services; Production Services; and Technical Solutions. The Drilling Products and Services segment provides downhole drilling tools and surface rentals.