Share on StockTwits

Shares of SandRidge Mississippian Trust II (NYSE:SDR) reached a new 52-week low during trading on Friday , American Banking & Market News reports. The stock traded as low as $6.91 and last traded at $6.95, with a volume of 439,439 shares changing hands. The stock had previously closed at $7.16.

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.

The stock has a 50-day moving average of $8.09 and a 200-day moving average of $8.13. The company has a market cap of $349.1 million and a price-to-earnings ratio of 3.39. SandRidge Mississippian Trust II also was the recipient of some unusual options trading on Wednesday. Stock traders bought 666 put options on the company. This represents an increase of 376% compared to the typical daily volume of 140 put options.

The company also recently announced a quarterly dividend, which is scheduled for Friday, August 29th. Shareholders 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 27.15%. 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.