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SandRidge Mississippian Trust II (NYSE:SDR) was downgraded by research analysts at Raymond James from a “market perform” rating to an “underperform” rating in a report released on Monday, TheFlyOnTheWall.com reports.

Shares of SandRidge Mississippian Trust II (NYSE:SDR) opened at 7.96 on Monday. SandRidge Mississippian Trust II has a 52 week low of $7.13 and a 52 week high of $15.75. The stock’s 50-day moving average is $8.13 and its 200-day moving average is $8.23. The company has a market cap of $395.8 million and a P/E ratio of 3.55.

The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.486 per share. This represents a $1.94 dividend on an annualized basis and a yield of 24.45%. The ex-dividend date of this dividend is Tuesday, August 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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