In a report released yesterday, Bill Herbert from Piper Jaffray reiterated a Buy rating on Superior Energy (NYSE: SPN), with a price target of $9. The company’s shares closed yesterday at $8.23, close to its 52-week low of $7.66.
According to TipRanks.com, Herbert is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -7.8% and a 31.1% success rate. Herbert covers the Basic Materials sector, focusing on stocks such as Ranger Energy Services Inc, Key Energy Services, and Precision Drilling.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Superior Energy with a $11 average price target.
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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 GAAP net loss of $59.05 million.
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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.
