Oppenheimer on SandRidge (SD) (PER) (SDT)
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Price: $14.15 +0.71%
Rating Summary:
1 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
1 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade PER Now!
Analyst at Oppenheimer said they recommend using the pullback in SandRidge Permian Trust (NYSE: PER) as a buying opportunity, based on confidence in Permian assets. However, they are less comfortable with SandRidge Mississippian Trust (NYSE: SDT).
"The SandRidge Royalty Trusts have been the worst performers under our coverage, as they have had not only the same tax concerns, but also multiple issues at the parent-company level including an activist investor calling for the ouster of CEO Tom Ward," said analyst Daniel Katzenberg.
"Although we think this is unlikely, the uncertainly creates unwanted headline risk. Additionally, SandRidge Energy (NYSE: SD) announced plans to divest its Permian acreage, which although it would not impact PER, does create additional questions," noted Katzenberg.
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"The SandRidge Royalty Trusts have been the worst performers under our coverage, as they have had not only the same tax concerns, but also multiple issues at the parent-company level including an activist investor calling for the ouster of CEO Tom Ward," said analyst Daniel Katzenberg.
"Although we think this is unlikely, the uncertainly creates unwanted headline risk. Additionally, SandRidge Energy (NYSE: SD) announced plans to divest its Permian acreage, which although it would not impact PER, does create additional questions," noted Katzenberg.
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