SandRidge Mississippian Trust II Plans Quarterly Dividend of $0.57 (SDR)
SandRidge Mississippian Trust II (NYSE:SDR) declared a quarterly dividend on Thursday, January 30th, Analyst Ratings Network.com reports. Shareholders of record on Friday, February 14th will be given a dividend of 0.568 per share on Friday, February 28th. This represents a $2.27 dividend on an annualized basis and a yield of 23.33%.
On a related note, analysts at Raymond James upgraded shares of SandRidge Mississippian Trust II from an “underperform” rating to a “market perform” rating in a research note to investors on Thursday, January 9th. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. SandRidge Mississippian Trust II has an average rating of “Hold” and an average target price of $13.78.
SandRidge Mississippian Trust II (NYSE:SDR) traded up 0.83% on Thursday, hitting $9.74. The stock had a trading volume of 181,474 shares. SandRidge Mississippian Trust II has a one year low of $8.59 and a one year high of $18.95. The stock has a 50-day moving average of $9.21 and a 200-day moving average of $11.91. The company has a market cap of $484.3 million and a price-to-earnings ratio of 4.10.
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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