Superior Energy Services (NYSE:SPN) received a "Buy" rating from Jefferies as they initiated coverage on them, citing diversification of revenue streams away from the Gulf of Mexico.
"SPN is very well positioned to continue to diversify its revenue stream away from the Gulf by leveraging its products and services in key international markets, and benefiting from higher well complexity in the U.S. land market. We see earnings upside and likely multiple expansion over the next few years," said Jefferies.
Superior closed Thursday at $26.79, dropping $0.07, or 0.26 percent.
Jefferies started them off with a price target of $34.
Showing posts with label Superior Energy Services. Show all posts
Showing posts with label Superior Energy Services. Show all posts
Friday, October 15, 2010
Wednesday, October 6, 2010
Barclays (NYSE:BCS) Sees Strong Third Quarter for Noble (NYSE:NE), Halliburton (NYSE:HAL), Baker Hughes (NYSE:BHI), Others
After visiting a number of U.S. Oil Services & Drilling companies last week in their Oilfield Tour in Houston, Texas, Barclays (NYSE:BCS) said they see most companies performing strongly in the third quarter in the sector.
Barclays said:
"Last week we hosted the 21st "Original" Oilfield Tour in Houston,
Texas. The companies we visited on the tour included Baker Hughes (NYSE:BHI), CGGVeritas, FMC Technologies (NYSE:FTI), Halliburton (NYSE:HAL), National Oilwell Varco (NYSE:NOV), Noble Corporation (NYSE:NE), Patterson-UTI Energy (Nasdaq:PTEN), Pride International (NYSE:PDE), Superior Energy Services (NYSE:SPN) and Weatherford International (NYSE:WFT)."
The many companies, for the most part, are positive about the global cycle they feel is now taking hold.
"Similar to the themes highlighted at our 2010 CEO Energy Conference, the companies we visited continued to express optimism that the international upcycle is taking hold. Third quarter results in North America for most companies are likely to be strong. The view of the offshore markets was mixed, with optimism expressed for ultra-deepwater and premium jackup demand globally, while the outlook in the Gulf of Mexico remains weak," concluded Barclays.
Barclays said:
"Last week we hosted the 21st "Original" Oilfield Tour in Houston,
Texas. The companies we visited on the tour included Baker Hughes (NYSE:BHI), CGGVeritas, FMC Technologies (NYSE:FTI), Halliburton (NYSE:HAL), National Oilwell Varco (NYSE:NOV), Noble Corporation (NYSE:NE), Patterson-UTI Energy (Nasdaq:PTEN), Pride International (NYSE:PDE), Superior Energy Services (NYSE:SPN) and Weatherford International (NYSE:WFT)."
The many companies, for the most part, are positive about the global cycle they feel is now taking hold.
"Similar to the themes highlighted at our 2010 CEO Energy Conference, the companies we visited continued to express optimism that the international upcycle is taking hold. Third quarter results in North America for most companies are likely to be strong. The view of the offshore markets was mixed, with optimism expressed for ultra-deepwater and premium jackup demand globally, while the outlook in the Gulf of Mexico remains weak," concluded Barclays.
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