Superior Energy Services Now Covered by JPMorgan Chase & Co. (SPN)
Research analysts at JPMorgan Chase & Co. initiated coverage on shares of Superior Energy Services (NYSE:SPN) in a report released on Thursday, TheFlyOnTheWall.com reports. The firm set an “overweight” rating and a $32.00 price target on the stock. JPMorgan Chase & Co.’s target price points to a potential upside of 25.05% from the company’s current price.
The analysts wrote, “Occupying a unique corner of U.S. Oilfield Services, Superior Energy offers a compelling investment alternative as a diversified, mid-cap service company that retains some of the characteristics of a small cap, yet with considerably less volatility. Setting itself apart from the smaller US land service companies, the story has three key elements: a base US land business that generates free cash flow (but little pricing power); international expansion that pulls in product lines; and core earnings strength from its rentals business and Gulf of Mexico exposure. While Superior does not have the technology, product line depth, or project management capabilities of the diversified large caps, it also doesn’t need to spend the R&D and capex required to compete with the likes of SLB, HAL, and BHI. We initiate coverage of Superior Energy with an Overweight rating and a Dec-2014 price target of $32.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Global Hunter Securities downgraded shares of Superior Energy Services from a “buy” rating to a “neutral” rating in a research note to investors on Monday, November 18th. They now have a $30.00 price target on the stock, down previously from $31.00. Separately, analysts at RBC Capital raised their price target on shares of Superior Energy Services from $27.00 to $30.00 in a research note to investors on Tuesday, November 12th. They now have a “sector perform” rating on the stock. Finally, analysts at Deutsche Bank initiated coverage on shares of Superior Energy Services in a research note to investors on Tuesday, November 5th. They set a “buy” rating and a $33.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Superior Energy Services has a consensus rating of “Buy” and an average price target of $31.42.
Shares of Superior Energy Services (NYSE:SPN) traded up 0.82% on Thursday, hitting $25.80. The stock had a trading volume of 418,549 shares. Superior Energy Services has a 52 week low of $19.65 and a 52 week high of $29.22. The stock has a 50-day moving average of $26. and a 200-day moving average of $26.41. The company has a market cap of $4.115 billion and a P/E ratio of 14.70.
Superior Energy Services (NYSE:SPN) last released its earnings data on Friday, October 25th. The company reported $0.43 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.50 by $0.07. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the company posted $0.60 earnings per share. Superior Energy Services’s revenue was up .8% compared to the same quarter last year. Analysts expect that Superior Energy Services will post $1.58 EPS for the current fiscal year.
Superior Energy Services, Inc is a provider of oilfield services and equipment. The Company offers a variety of products and services throughout the life cycle of an oil and gas well.
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