Could a company that rents tools for oil drilling help your portfolio gush with profits?
According to Joe Terranova it can if the company is Superior Energy Services!
If you've ever gone into the wilds speculating for black gold, (or if you're a Beverly Hillbilly) you probably know about this company already. For the rest of us, Superior Energy makes and rents all kinds of tools to help oil and gas companies extract natural resources from the ground.
According to Superior Energy's website, the firm is committed to make finding and producing energy more efficient by bringing together complementary products and services to plan, deliver and execute solutions as one seamless unit operating under one common culture.
Here are some more particulars:
Superior Energy Services (SPN)
-Based in Harvey, LA
-Industry: Oil Well Services and Equip
-Market Cap: $1.7 billion
-52 Week Low $57.75
-52 Week High $11.20
-Over past year stock is down 59%
What makes Superior Energy a rising star stock?
Throughout the course of this downturn deep water drilling has remained resilient, explains Joe Terranova. And this company has perfected the model of rigless well intervention. In other wrods, they stand to benefit from the resilience. If we continue to get higher prices in oil, this stock should do well.
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Trader disclosure: On June 8th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (BX) Call Spread; Najarian Owns (DELL) Call Spread; Najarian Owns (FCX) Calls & Put Spread; Najarian Owns (INTC) Call Spread; Najarian Owns (MCD) Call Spread; Najarian Owns (MOS) Put Spread; Najarian Owns (PALM) Call Spread; Najarian Owns (WNR); Najarian Owns (ISIS); Terranova Owns (TER), (XBI), (ABT), (RIMM), (BTU), (BRCM), (GENZ); Terranova Owns (MS) & (MS) Calls; Terranova Is Short (FCX) & (FCX) Puts; Terranova Owns (HES) & (HES) Calls; Terranova Owns (XOM) Call Spread ; Terranova Owns (DIS) Call Spread; Terranova Owns (X) & (X) Calls; Terranova Owns (JPM) & (JPM) Calls; Terranova Owns (POT) & (POT) Calls ; Adami Owns (AGU), (C), (GS), (INTC), (BTU), (MSFT), (NUE); Finerman Owns (BAC) Preferred; Finerman's Firm Own (NOK), (PBR), (RIG), (TBT), (WRC), (KFT); Finerman's Firm Owns (BAC) Preferred; Finerman's Firm Owns (WFC) Preferred; Finerman Owns (WFC) Preferred; Finerman's Firm Is Short (BAC)