Barclays Has Dinner with Superior Energy Services (SPN) CEO; Four Key Takeaways

June 21, 2012 5:07 PM EDT
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Price: $17.32 -4.1%

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    27 Buy, 8 Hold, 0 Sell

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Barclays maintains an 'Overweight' on Superior Energy Services (NYSE: SPN) price target of $48.00.

Analyst, James C. West attended a dinner with Superior's CEO, Dave Dunlap. Some noted highlights include: 1) Gulf of Mexico business is doing well and will continue on a strong path as newbuild deepwater rigs are delivered; 2) The company will continue its hunt for international acquisitions (with focus on Brazil and Saudi Arabia). Other areas of interest include Colombia, Argentina, and Kuwait; 3) CEO does anticipate and is getting the company prepared for further gross margin pressure, considering the fall in oil and gas prices; and 4) Continue to cut debt.

For an analyst ratings summary and ratings history on Superior Energy Services click here. For more ratings news on Superior Energy Services click here.

Shares of Superior Energy Services closed at $20.05 yesterday.

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