Raymond James Reaffirms Their Buy Rating on Superior Energy (SPN)

Raymond James analyst Marshall Adkins reiterated a Buy rating on Superior Energy (SPN) on February 19 and set a price target of $9. The company’s shares closed yesterday at $5.08.

According to TipRanks.com, Adkins has currently no stars on a ranking scale of 0-5 stars, with an average return of -9.1% and a 34.8% success rate. Adkins covers the Basic Materials sector, focusing on stocks such as Ncs Multistage Holdings Inc, Compressco Partners LP, and Tetra Technologies.

The word on The Street in general, suggests a Hold analyst consensus rating for Superior Energy with a $5.90 average price target, which is a 16.1% upside from current levels. In a report issued on February 19, Piper Jaffray also reiterated a Buy rating on the stock with a $7.50 price target.

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Based on Superior Energy’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $750 million. In comparison, last year the company had a net profit of $8.59 million.

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.