SandRidge Mississippian Trust II Downgraded by RBC Capital to “Underperform” (SDR)
SandRidge Mississippian Trust II (NYSE:SDR) was downgraded by investment analysts at RBC Capital from a “sector perform” rating to an “underperform” rating in a note issued to investors on Monday, American Banking News.com reports. They currently have a $11.00 price target on the stock, down from their previous price target of $16.00. RBC Capital’s price objective points to a potential downside of 9.69% from the company’s current price.
SDR has been the subject of a number of other recent research reports. Analysts at Raymond James downgraded shares of SandRidge Mississippian Trust II to an “underperform” rating in a research note to investors on Friday. Analysts at Zacks downgraded shares of SandRidge Mississippian Trust II 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. Four analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company currently has an average rating of “Sell” and a consensus target price of $13.78.
Shares of SandRidge Mississippian Trust II (NYSE:SDR) opened at 12.18 on Monday. SandRidge Mississippian Trust II has a 52 week low of $10.50 and a 52 week high of $20.97. The stock’s 50-day moving average is $14.02 and its 200-day moving average is $12.96. The company has a market cap of $605.6 million and a price-to-earnings ratio of 5.55.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 29th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.54 per share. This represents a $2.14 dividend on an annualized basis and a yield of 17.60%. The ex-dividend date of this dividend is Tuesday, November 12th.
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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