Investors Purchase High Volume of SandRidge Mississippian Trust II Put Options (SDR)
SandRidge Mississippian Trust II (NYSE:SDR) was the recipient of unusually large options trading on Wednesday. Stock traders bought 666 put options on the stock, AnalystRatings.Net reports. This is an increase of 376% compared to the average volume of 140 put options.
Separately, analysts at Raymond James downgraded shares of SandRidge Mississippian Trust II from a “market perform” rating to an “underperform” rating in a research note on Monday, August 4th.
SandRidge Mississippian Trust II (NYSE:SDR) traded down 2.58% on Wednesday, hitting $7.18. The stock had a trading volume of 793,961 shares. SandRidge Mississippian Trust II has a 52-week low of $7.13 and a 52-week high of $15.00. The stock’s 50-day moving average is $8.13 and its 200-day moving average is $8.14. The company has a market cap of $357.0 million and a price-to-earnings ratio of 3.29.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 29th. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.486 per share. This represents a $1.94 annualized dividend and a dividend yield of 26.38%. The ex-dividend date 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).
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.