SandRidge Energy PT Lowered to $6.00 (SD)
Wunderlich cut their price target on shares of SandRidge Energy (NYSE:SD) from $7.00 to $6.00 in a research note issued on Friday. Wunderlich’s price objective indicates a potential upside of 13.42% from the company’s current price.
Shares of SandRidge Energy (NYSE:SD) traded up 1.93% on Friday, hitting $5.29. 14,760,045 shares of the company’s stock traded hands. SandRidge Energy has a one year low of $5.06 and a one year high of $7.43. The stock’s 50-day moving average is $6.58 and its 200-day moving average is $6.52. The company’s market cap is $2.616 billion. SandRidge Energy also saw some unusual options trading activity on Wednesday. Traders acquired 16,197 call options on the stock. This represents an increase of approximately 311% compared to the typical volume of 3,940 call options.
SandRidge Energy (NYSE:SD) last announced its earnings results on Wednesday, August 6th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.04 by $0.02. The company had revenue of $374.71 million for the quarter, compared to the consensus estimate of $391.90 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The company’s quarterly revenue was down 27.0% on a year-over-year basis. On average, analysts predict that SandRidge Energy will post $0.22 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays cut their price target on shares of SandRidge Energy from $7.00 to $6.00 in a research note on Friday. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of SandRidge Energy in a research note on Thursday. They now have a $6.10 price target on the stock, down previously from $6.40. Finally, analysts at Global Hunter Securities downgraded shares of SandRidge Energy from an “accumulate” rating to a “neutral” rating in a research note on Thursday. They now have a $7.00 price target on the stock, down previously from $8.00. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. SandRidge Energy has a consensus rating of “Hold” and a consensus target price of $6.93.
SandRidge Energy, Inc, is an independent oil and natural gas company. The Company is engaged in development and production activities in the Mid-Continent, Gulf of Mexico and Permian Basin in west Texas.
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