Superior Energy Services (SPN) : Traders are bullish on Superior Energy Services (SPN) as it has outperformed the S&P 500 by a wide margin of 3.02% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 8.38%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 8.35% in the last 1 week, and is up 3.41% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Superior Energy Services, Inc. is up 11.82% in the last 3-month period. Year-to-Date the stock performance stands at 36.05%. The stock has recorded a 20-day Moving Average of 10.07% and the 50-Day Moving Average is 3.31%.
Superior Energy Services (NYSE:SPN): The stock opened at $18.24 on Friday but the bulls could not build on the opening and the stock topped out at $18.24 for the day. The stock traded down to $17.88 during the day, due to lack of any buying support eventually closed down at $18.17 with a loss of -1.03% for the day. The stock had closed at $18.36 on the previous day. The total traded volume was 1,725,852 shares.
Also, Citigroup maintains its rating on Superior Energy Services (NYSE:SPN). The global brokerage major lowers the current price target from $22 per share to $20 per share. Analysts at the Citigroup have a current rating of Buy on the shares. The rating by the firm was issued on July 28, 2016.
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.