Are Superior Energy (NYSE:SPN) Shares Worth Your Time and Dime Following Recent Citigroup Upgrade?


Superior Energy (NYSE:SPN) Stock Upgrade

In analysts note published on 11 December, Citigroup upgraded shares of Superior Energy (NYSE:SPN) to a solid Buy rating from their previous Neutral rating.

From a total of 26 analysts covering Superior Energy Services (NYSE:SPN) stock, 18 rate it a ”Buy”, 0 a “Sell”, and 10 a ”Hold”. This means that 64% of the ratings are positive. The highest target price is $28 while the lowest target price is $12. The mean of all analyst targets is $18.5 with a 33.14% above today’s ($13.67) stock price. Superior Energy Services was the topic of 30 analyst reports since August 3, 2015 according to the firm StockzIntelligence Inc. Susquehanna initiated shares on December 9 with “Neutral” rating. Cowen & Co maintained shares with “Outperform” rating and $17 target share price in a report from an October 30. JP Morgan maintained SPN stock in a recent report from November 2 with “Overweight” rating. Citigroup maintained the rating on October 5. Citigroup has a “Neutral” rating and a $15 price target on shares. Finally, Imperial Capital maintained the stock with “Outperform” rating in a report issued on an October 30.

Approximately 1.34 million shares of stock traded hands. Superior Energy Services, Inc. (NYSE:SPN) has declined 42.74% since May 8, 2015 and is downtrending. It has underperformed by 39.72% the S&P500.

The overall sentiment of institutions has increased to 1.16 in Q2 2015. Its up 0.39, from 0.77 in 2015Q2. The ratio improved, as 50 institutions have sold all the shares of Superior Energy Services, Inc. that they owned while 90 funds have taken shares off the table. 40 funds have purchased shares for the first time while 123 added to their positions. These institutions now hold 147.93 million shares or 0.81% less than the 149.15 million shares they owned in 2015Q2.

The Fund Tbp Investments Management Llc currently is holding shares equating to 4.01% of its total portfolio in Superior Energy Services, Inc. representing a total of 117,700 shares. Another fund,Covalent Partners Llc, is holding a total of 1.50 million shares equating to 3.99% of their holdings. Additionally, Viking Fund Management Llc has a 1.04 million share stake in Superior Energy Services, Inc. which represents 2.29% of their total portfolio. The Fund, Energy Opportunities Capital Management Llc, based out of Texas, has also built up a stake in the stock, which represents a total of 2.19% of their total portfolio. Finally Goldentree Asset Management Lp, a fund which is based in the state of New York reported a total holdings of 684,084 shares.

Superior Energy Services, Inc. is engaged in exploration, development and production of oil and natural gas. The company has a market cap of $2.16 billion. The Firm serves national and independent oil and natural gas companies around the world. It currently has negative earnings. The Company’s divisions include Drilling Products and Services, Onshore Completion and Workover Services, Production Services and Technical Solutions.

According to Zacks Investment Research, “SUPERIOR ENERGY SERVICES, INC. is engaged in the business of providing offshore plugging and abandonment and wireline services in the Gulf of Mexico, the development, manufacture and sale of electronic torque and pressure control equipment and thread protectors which are used in connection with oil and gas exploration, the development, manufacture and sale of oil spill containment boom and ancillary equipment and the rental of specialized oil well equipment and fishing tools.” Get a free copy of the Zacks research report on Superior Energy Services, Inc. (SPN).