Lowering Superior FVE Chiefly due to Weaker Outlook for Deep-Water-Focused Business Lines
We are lowering our Superior fair value estimate from $13 to $10.50 per share. Additionally, we are raising our uncertainty rating from medium to very high. Both the lower fair value estimate and higher uncertainty reflect our heightened concerns about Superior’s ability to return to 2010-14 average levels of pricing and utilization in its offshore-leveraged business lines.The largest contributor to the lowered fair value is a more pessimistic outlook with respect to Superior’s drilling product...
Superior Energy Services provide services and products to the energy industry. The company serves national and independent oil and natural gas exploration and production companies around the world. The company reports its operating results in four business segments: Drilling Products and Services, which include downhole drilling tools and surface rentals; Onshore Completion and Workover Services, which include pressure pumping, fluid management and workover services; Production Services, which include intervention services used to maintain and extend oil and gas production; and Technical Solutions, which include include completion tools and services, well control services and subsea well intervention.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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