Canaccord Genuity Maintains a 'Hold' on SandRidge Energy (SD); Lowering PT on Higher Capital Intensity and Higher Gas Composition
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Price: $14.36 +0.14%
Rating Summary:
2 Buy, 13 Hold, 11 Sell
Rating Trend:
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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) price target lowered $1 to $8.
Canaccord analysts, John Gerdes, said, "We are lowering our target price to $8 per share due to higher capital intensity and a higher natural gas weighting. We note SandRidge lowered ’11 guidance 2% to 23.4 Mmboe due to facility constraints in the Central Basin Platform and underperformance in the Gulf Coast, Gulf of Mexico and Pinon Field though ’12 guidance is unchanged. Even after increasing capital intensity, our ’12 production expectation remains 4% above the high end of guidance, which implies a high hurdle for SD to clear in order to justify our fair value."
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 $7.75 yesterday.
Canaccord analysts, John Gerdes, said, "We are lowering our target price to $8 per share due to higher capital intensity and a higher natural gas weighting. We note SandRidge lowered ’11 guidance 2% to 23.4 Mmboe due to facility constraints in the Central Basin Platform and underperformance in the Gulf Coast, Gulf of Mexico and Pinon Field though ’12 guidance is unchanged. Even after increasing capital intensity, our ’12 production expectation remains 4% above the high end of guidance, which implies a high hurdle for SD to clear in order to justify our fair value."
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 $7.75 yesterday.
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