Price Target Update on Superior Energy Services (NYSE:SPN)

Superior Energy Services (NYSE:SPN) : The highest level Superior Energy Services (NYSE:SPN) is projected to reach is $27 for the short term and the lowest estimate is at $13. The consolidated price target from 19 rating analysts who initiate coverage on the stock is $19.37 and the possibility the share price can swing is $3.76.

Other Equity analysts have also commented on the company shares. Deutsche Bank maintains their rating on the shares of Superior Energy Services (NYSE:SPN). The current rating of the shares is Buy. Equity Analysts at the Firm raises the price target to $22 per share from $20 per share. The rating by the firm was issued on June 8, 2016.

Superior Energy Services (NYSE:SPN): stock turned positive on Thursday. Though the stock opened at $19.47, the bulls momentum made the stock top out at $19.76 level for the day. The stock recorded a low of $19.32 and closed the trading day at $19.44, in the green by 1.89%. The total traded volume for the day was 2,943,073. The stock had closed at $19.08 in the previous days trading.

The company shares have dropped -7.47% from its 1 Year high price. On Jun 30, 2015, the shares registered one year high at $21.11 and the one year low was seen on Feb 24, 2016. The 50-Day Moving Average price is $17.18 and the 200 Day Moving Average price is recorded at $13.49. On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Senior Executive Vice Pres.) of Superior Energy Services Inc, Bernard A Patrick had sold 37,500 shares worth of $828,375 in a transaction dated February 26, 2015. In this transaction, 37,500 shares were sold at $22.09 per share.

Superior Energy Services, Inc. is engaged in exploration, development and production of oil and natural gas. The Company serves national and independent oil and natural gas companies around the world. Its segments include Drilling Products and Services, Onshore Completion and Workover Services, Production Services and Technical Solutions. The Drilling Products and Services segment includes downhole drilling tools and surface rentals. The Onshore Completion and Workover Services segment includes pressure pumping, fluid handling and workover and maintenance services. The Production Services segment includes intervention services and specialized pressure-control tools used for pressure control and intervention operations. The Technical Solutions segment includes products and services that address customer-specific needs with their applications for specialized engineering, manufacturing or project planning.

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