Piper Jaffray Thinks Superior Energy’s Stock is Going to Recover


In a report released yesterday, John Daniel from Piper Jaffray reiterated a Buy rating on Superior Energy (SPN), with a price target of $5. The company’s shares closed on Friday at $3.29, close to its 52-week low of $2.87.

According to TipRanks.com, Daniel is ranked 0 out of 5 stars with an average return of -16.2% and a 24.1% success rate. Daniel covers the Basic Materials sector, focusing on stocks such as Ranger Energy Services Inc, Mammoth Energy Services, and Trican Well Service Ltd.

Superior Energy has an analyst consensus of Hold, with a price target consensus of $8.

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Based on Superior Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $21.82 million. In comparison, last year the company had a net profit of $8.59 million.

Based on the recent corporate insider activity of 24 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.