Following Lone Pine: SandRidge Energy (SD) Is Drilling for Dollars
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Today we want to take a look at SandRidge Energy (NYSE: SD), a stock hedge fund Lone Pine Capital recently disclosed a new 6.6 million share (4.6%) stake in.
Lone Pine Capital is a $9 billion long/short equity hedge fund founded in 1997 by Steve Mandel.
SandRidge Energy is an oil and natural gas company headquartered in Oklahoma City with its principal focus on exploration and production.
Here are some reasons we like this trade from Lone Pine:
1. Solid long-term prospects for energy.
2. Strong operational performance since its late-2007 IPO.
3. Recently Chairman, President and CEO Tom L. Ward announced plans to make open-market purchases during 2008 of up to $100 million for his personal account.
[LJ]
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