Canaccord Genuity Maintains a 'Hold' on SandRidge Energy (SD); Q1/11 Miss on Lower Production and Weaker Price Realizations
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Price: $14.24 -0.7%
Rating Summary:
2 Buy, 13 Hold, 11 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
2 Buy, 13 Hold, 11 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Hold' on SandRidge Energy (NYSE: SD), PT lowered $1 to $12.
Canaccord analyst says, "We are lowering our target price $1 to $12 per share due to lower production, a weaker liquids price realization and higher operating expense. While we are fans of SandRidge’s turnaround story, we see insufficient upside to merit a more constructive rating at this time. SandRidge continues its radial shift toward liquids development via emphasis on the Central Basin Platform Clearfork/San Andres Carbonates and Oklahoma Mississippian play, while completely deemphasizing the gas-prone Pinon field. Also, the company has soothed capitalization issues with its recent non-core asset and Mississippian royalty trust sales. Potential upside to our outlook includes better-than-expected Mississippian well performance and further accretive asset monetizations."
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 $10.36 yesterday.
Canaccord analyst says, "We are lowering our target price $1 to $12 per share due to lower production, a weaker liquids price realization and higher operating expense. While we are fans of SandRidge’s turnaround story, we see insufficient upside to merit a more constructive rating at this time. SandRidge continues its radial shift toward liquids development via emphasis on the Central Basin Platform Clearfork/San Andres Carbonates and Oklahoma Mississippian play, while completely deemphasizing the gas-prone Pinon field. Also, the company has soothed capitalization issues with its recent non-core asset and Mississippian royalty trust sales. Potential upside to our outlook includes better-than-expected Mississippian well performance and further accretive asset monetizations."
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 $10.36 yesterday.
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