RBC Capital Sticks to Their Hold Rating for Superior Energy Services (SPN)
In a report released yesterday, Kurt Hallead from RBC Capital maintained a Hold rating on Superior Energy Services (SPN), with a price target of $6.50. The company’s shares closed last Monday at $4.32, close to its 52-week low of $0.70.
According to TipRanks.com, Hallead ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -14.4% and a 26.3% success rate. Hallead covers the Basic Materials sector, focusing on stocks such as Diamond Offshore Drilling, Oceaneering International, and Oil States International.
The word on The Street in general, suggests a Hold analyst consensus rating for Superior Energy Services with a $6.50 average price target.
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Based on Superior Energy Services’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $98.52 million. In comparison, last year the company had a GAAP net loss of $750 million.
Based on the recent corporate insider activity of 25 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 & Services, Onshore Completion & Workover Services, Production Services and Technical Solutions. The Drilling Products and Services segment provides downhole drilling tools and surface rentals.