Insider Selling: SandRidge Mississippian Trust II Major Shareholder Sells 1,150,000 Shares of Stock (SDR)
SandRidge Mississippian Trust II (NYSE:SDR) major shareholder Sandridge Energy Inc sold 1,150,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $12.65, for a total value of $14,547,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
A number of analysts have recently weighed in on SDR shares. Analysts at Zacks downgraded shares of SandRidge Mississippian Trust II (NYSE:SDR) from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, September 2nd. They now have a $17.10 price target on the stock.
Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $15.78.
SandRidge Mississippian Trust II (NYSE:SDR) opened at 13.28 on Tuesday. SandRidge Mississippian Trust II has a one year low of $10.50 and a one year high of $21.22. The stock has a 50-day moving average of $14.1 and a 200-day moving average of $12.. The company has a market cap of $660.3 million and a P/E ratio of 6.05.
SandRidge Mississippian Trust II is a statutory trust formed to own overriding royalty interests to be conveyed to the trust by SandRidge Energy, Inc (NYSE:SDR) in 67 producing horizontal wells, including 13 wells, which are awaiting completion (the Producing Wells), in the Mississippian formation in northern Oklahoma and southern Kansas, and overriding royalty interests in 206 horizontal development wells (The Development Wells) to be drilled in the Mississippian formation (the Development Wells) on properties within an Area of Mutual Interest (the AMI).
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