Wells Fargo Starts SandRidge Permian Trust (PER) at Market Perform; Liquids Exposure With Less Volatility
Tweet
Share
E-mailGet Alerts PER Hot Sheet
Price: $0.41 --0%
Rating Summary:
0 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
0 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Wells Fargo initiates coverage on SandRidge Permian Trust (NYSE: PER) with a Market Perform. PT $21.00.
Wells analyst says, "The SandRidge Permian Trust represents the second royalty trust sponsored by SandRidge in 2011, and the structure is nearly identical to the Mississippian Trust I. PER provides investors with exposure to low risk oil weighted assets, near-term commodity price protection, and increasing distributions over the drilling period. However, at current levels, units are fairly valued according to our discounted cash flow model. Our valuation range is $18.00-21.00 per unit based on our discounted cash flow model which implies a per unit value of $18.18. Our EPU estimate for 2011 is $1.16 and our 2012 EPU estimate is $2.46."
For more ratings news on SandRidge Permian Trust click here and for the rating history of SandRidge Permian Trust click here.
Shares of SandRidge Permian Trust closed at $19.25 yesterday.
Wells analyst says, "The SandRidge Permian Trust represents the second royalty trust sponsored by SandRidge in 2011, and the structure is nearly identical to the Mississippian Trust I. PER provides investors with exposure to low risk oil weighted assets, near-term commodity price protection, and increasing distributions over the drilling period. However, at current levels, units are fairly valued according to our discounted cash flow model. Our valuation range is $18.00-21.00 per unit based on our discounted cash flow model which implies a per unit value of $18.18. Our EPU estimate for 2011 is $1.16 and our 2012 EPU estimate is $2.46."
For more ratings news on SandRidge Permian Trust click here and for the rating history of SandRidge Permian Trust click here.
Shares of SandRidge Permian Trust closed at $19.25 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- AMD (AMD) to offer senior notes in four parts
- Leerink Starts Ligand Pharma (LGND) at Outperform
- UBS Starts Schrodinger (SDGR) at Neutral
Create E-mail Alert Related Categories
New CoverageRelated Entities
Wells FargoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
