Global Hunter Securities Upgrades SandRidge Energy (SD) to Buy; Appreciating Impact of Acquisition

February 27, 2012 8:52 AM EST
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Price: $21.75 --0%

Rating Summary:
    3 Buy, 11 Hold, 12 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 23 | Down: 31 | New: 34
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Global Hunter Securities upgraded SandRidge Energy (NYSE: SD) to Buy, price target raised from $8.50 to $13.00.

Analyst, Dan Morrison, said, "SandRidge's 4Q was largely a non-event to investors, though EPS and EBITDA beat our estimates. Production was down sequentially due to Permian plumbing issues which are currently being addressed. SandRidge's surprising acquisition of Dynamic Offshore caught us, along with most observers, completely by surprise. Upon reflection, we've grown to appreciate the impact of the transaction on SandRidge, providing cashflow to accelerate Mississippian development and removing liquidity concerns."

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

Shares of SandRidge Energy closed at $8.81 yesterday.

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