Share on StockTwits
 

Shares of SandRidge Mississippian Trust II (NYSE:SDR) reached a new 52-week low during trading on Tuesday , Analyst Ratings News reports. The stock traded as low as $8.59 and last traded at $8.60, with a volume of 845,007 shares changing hands. The stock had previously closed at $9.12.

Separately, analysts at Raymond James upgraded shares of SandRidge Mississippian Trust II from an “underperform” rating to a “market perform” rating in a research note on Thursday, January 9th. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. SandRidge Mississippian Trust II currently has an average rating of “Hold” and a consensus target price of $13.78.

The stock has a 50-day moving average of $9.44 and a 200-day moving average of $11.41. The company has a market cap of $426.1 million and a price-to-earnings ratio of 3.87.

The company also recently announced a quarterly dividend, which is scheduled for Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.568 per share. This represents a $2.27 annualized dividend and a dividend yield of 26.51%. The ex-dividend date is Wednesday, February 12th. This is a boost from SandRidge Mississippian Trust II’s previous quarterly dividend of $0.54.

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).

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.