UBS Maintains a 'Neutral' on SandRidge Energy (SD); Q4 Beat; Raised ‘11 Production and Capex Guidance; Strong Reserve Growth

February 25, 2011 12:19 PM EST
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Price: $21.71 -1.54%

Rating Summary:
    3 Buy, 11 Hold, 12 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 29 | Down: 30 | New: 23
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UBS maintains a 'Neutral' on SandRidge Energy (NYSE: SD), PT increased from $8 to $10.

UBS analyst says, "Clean 4Q EPS/CFPS of -$0.07/$0.10 was above our estimate of -$0.15/$0.09 largely on lower than expected costs. EPS was in line w/ consensus of -$0.08 but below CFPS of $0.18. 4Q highlights include: 42% YoY increase in production (3% above UBSe and guidance of +38%), 19% drop in price realizations (5% below UBSe), & 11% rise in per-unit costs to $7.52/Mcfe (15% below UBSe)...We revised our '11-'12E EPS/CFPS to $0.15/$0.85 & $0.45/$1.30 from $0.05/$0.85 & $0.30/$1.15 on higher volumes & lower costs."

For more ratings news on SandRidge Energy click here and for the rating history of SandRidge Energy click here.

Shares of SandRidge Energy closed at $9.18 yesterday.

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