Copano Energy, L.L.C. (CPNO), SandRidge Energy Inc. (SD), Carrizo Oil & Gas (CRZO), Linn Energy, LLC (LINE), Uranerz Energy (URZ), BlackRock, Inc. (BLK) and Walgreen (WAG) had ratings and price targets on them adjusted by analysts.
Hilliard Lyons downgraded Copano Energy, L.L.C. (CPNO) from a "Buy" rating to a "Long" rating. They raised their price target from $35.00 to $40.00 on the company.
Canaccord Genuity downgraded SandRidge Energy Inc. (SD) from a "Hold" rating to a "Sell" rating. They lowered their price target from $7.00 to $6.00 on the company.
Capital One upgraded Carrizo Oil & Gas (CRZO) to a "Neutral" rating.
Credit Suisse upgraded Linn Energy, LLC (LINE) from a "Neutral" rating to an "Outperform" rating.
Global Hunter Securities initiated coverage on Uranerz Energy (URZ). They have an "Accumulate" rating and price target of $4.00 on the company.
Sanford C. Bernstein initiated coverage on BlackRock, Inc. (BLK). They placed a "Market Perform" rating on the company.
Bank of America downgraded Walgreen (WAG) from a "Neutral" rating to an "Underperform" rating.
Showing posts with label SandRidge Energy. Show all posts
Showing posts with label SandRidge Energy. Show all posts
Thursday, March 1, 2012
Friday, February 3, 2012
GMX (GMXR) (UNS) (SD) (AVNW) (SHOR) Ratings, Price Targets
GMX Resources Inc. (NASDAQ: GMXR), Unisource Energy (NYSE: UNS), SandRidge Energy Inc. (NYSE: SD), Aviat Networks, Inc. (NASDAQ: AVNW) and ShoreTel (NASDAQ: SHOR) had ratings and price targets on them adjusted by analysts.
Unisource Energy (UNS) was upgraded by Jefferies Group (NYSE:JEF) from a “Hold” rating to a “Buy” rating.
GMX Resources Inc. (GMXR) was upgraded by Stifel Nicolaus from a “Sell” rating to a “Hold” rating.
SandRidge Energy Inc. (SD) had its price target lowered by Ladenburg Thalmann from $10.00 to $9.00.
SandRidge Energy Inc. (SD) was downgraded by Howard Weil from an “Outperform” rating to a “Market Perform” rating. They have a price target of $10.00 on the company.
Aviat Networks, Inc. (AVNW) had its “Buy” rating reiterated by Needham & Company.
ShoreTel (SHOR) was downgraded by Craig Hallum from a “Buy” rating to a “Hold” rating.
Unisource Energy (UNS) was upgraded by Jefferies Group (NYSE:JEF) from a “Hold” rating to a “Buy” rating.
GMX Resources Inc. (GMXR) was upgraded by Stifel Nicolaus from a “Sell” rating to a “Hold” rating.
SandRidge Energy Inc. (SD) had its price target lowered by Ladenburg Thalmann from $10.00 to $9.00.
SandRidge Energy Inc. (SD) was downgraded by Howard Weil from an “Outperform” rating to a “Market Perform” rating. They have a price target of $10.00 on the company.
Aviat Networks, Inc. (AVNW) had its “Buy” rating reiterated by Needham & Company.
ShoreTel (SHOR) was downgraded by Craig Hallum from a “Buy” rating to a “Hold” rating.
Friday, December 23, 2011
SandRidge (SD) Lands $1 Billion in Repsol Venture
In an announced joint venture with Spanish energy company Repsol YPF, SandRidge Energy Inc. (NYSE:SD) said it'll generate about $ billion in the oil acreage connected to the deal.
The Madrid, Spain-based Repsol subsidiary has agreed to acquire 25 percent interest in the Extension Mississippian play, and approximately a 16 percent interest in the Original Mississippian play.
Repsol's 25 percent interest is in about 250,000 net acres, and the 16 percent interest entails 113,636 net acres.
Sandridge will receive $250 million in cash and the remainder in the drilling carry, which includes completion and drilling costs.
Estimates by Sandridge are for the carry obligation to be completed within a period of three years.
The deal should close sometime in the first quarter.
Sandridge closed Thursday at $8.21, gaining $1.54, or 23.09 percent.
The Madrid, Spain-based Repsol subsidiary has agreed to acquire 25 percent interest in the Extension Mississippian play, and approximately a 16 percent interest in the Original Mississippian play.
Repsol's 25 percent interest is in about 250,000 net acres, and the 16 percent interest entails 113,636 net acres.
Sandridge will receive $250 million in cash and the remainder in the drilling carry, which includes completion and drilling costs.
Estimates by Sandridge are for the carry obligation to be completed within a period of three years.
The deal should close sometime in the first quarter.
Sandridge closed Thursday at $8.21, gaining $1.54, or 23.09 percent.
Friday, December 9, 2011
Costco (COST) (SD) (SEH) (SGEN) (CIEN) (CRIS) Ratings, Price Targets
Costco (COST), SandRidge Energy Inc. (SD), Spartech Co. (SEH), Seattle Genetics, Inc. (SGEN), Ciena Corp. (CIEN) and Curis, Inc. (CRIS) ratings and price targets.
Deutsche Bank (NYSE:DB) initiated coverage on SandRidge Energy Inc. (SD). They placed a “Hold” rating and a price target of $9.00 on the company.
Zacks Investment Research upgraded Spartech Co. (SEH) from a “Neutral” rating to an “Outperform” rating.
WJB Capital initiated coverage on Seattle Genetics, Inc. (SGEN). They placed a “Sell” rating on the company.
Northland Securities initiated coverage on Ciena Corp. (CIEN). They placed a “Market Perform” rating on the company.
Susquehanna downgraded Costco (COST) to a “Neutral” rating.
Oppenheimer initiated coverage on Curis, Inc. (CRIS). They placed an “Outperform” rating and a price target of $6.00 on the company.
Deutsche Bank (NYSE:DB) initiated coverage on SandRidge Energy Inc. (SD). They placed a “Hold” rating and a price target of $9.00 on the company.
Zacks Investment Research upgraded Spartech Co. (SEH) from a “Neutral” rating to an “Outperform” rating.
WJB Capital initiated coverage on Seattle Genetics, Inc. (SGEN). They placed a “Sell” rating on the company.
Northland Securities initiated coverage on Ciena Corp. (CIEN). They placed a “Market Perform” rating on the company.
Susquehanna downgraded Costco (COST) to a “Neutral” rating.
Oppenheimer initiated coverage on Curis, Inc. (CRIS). They placed an “Outperform” rating and a price target of $6.00 on the company.
Monday, August 8, 2011
Fluor (FLR) (PKI) (DLB) (ARCC) (GNOM) (SD) Price Targets Changed
Fluor Co. (NYSE: FLR), PerkinElmer, Inc. (NYSE: PKI), Dolby Labs (NYSE: DLB), Ares Capital (NASDAQ: ARCC), Complete Genomics (NASDAQ: GNOM) and SandRidge Energy Inc. (NYSE: SD) price targets adjusted by analysts.
Fluor Co. (FLR) had its price target raised by Credit Suisse (NYSE:CS) to $86.00. They have an “Outperform” rating on the company.
PerkinElmer, Inc. (PKI) had its price target lowered by UBS AG (NYSE:UBS) from $31.00 to $28.00. They have a “Buy” rating on the company.
Dolby Labs (DLB) had its price target lowered by Canaccord Genuity from $54.00 to $33.00. They have a “Hold” rating on the company.
Ares Capital (ARCC) had its price target lowered by Citigroup (NYSE:C) to $17.00. They have a “Buy” rating on the company.
Complete Genomics (GNOM) had its price target lowered by UBS AG from $15.00 to $8.50. They have a “Neutral” rating on the company.
SandRidge Energy Inc. (SD) had its price target lowered by UBS AG to $10.00. They have a “Neutral” rating on the company.
Fluor Co. (FLR) had its price target raised by Credit Suisse (NYSE:CS) to $86.00. They have an “Outperform” rating on the company.
PerkinElmer, Inc. (PKI) had its price target lowered by UBS AG (NYSE:UBS) from $31.00 to $28.00. They have a “Buy” rating on the company.
Dolby Labs (DLB) had its price target lowered by Canaccord Genuity from $54.00 to $33.00. They have a “Hold” rating on the company.
Ares Capital (ARCC) had its price target lowered by Citigroup (NYSE:C) to $17.00. They have a “Buy” rating on the company.
Complete Genomics (GNOM) had its price target lowered by UBS AG from $15.00 to $8.50. They have a “Neutral” rating on the company.
SandRidge Energy Inc. (SD) had its price target lowered by UBS AG to $10.00. They have a “Neutral” rating on the company.
Saturday, May 21, 2011
Ratings (POT) (MAT) (HAS) (GMLP) (SD) Weekend Recap
Ratings coverage on Potash Corp (NYSE: POT), Mattel, Inc. (NYSE: MAT), Hasbro, Inc. (NYSE: HAS), Golar LNG Partners (NASDAQ: GMLP) and SandRidge Energy Inc. (NYSE: SD) was initiated by analysts this week.
Bank of America (NYSE:BAC) initiated coverage on Golar LNG Partners (GMLP). They placed a “neutral” rating and a price target of $26.00 on the company.
Longbow Research initiated coverage on Hasbro, Inc. (HAS). They placed a “neutral” rating on the company.
Macquarie initiated coverage on of Potash Corp (POT). They placed an “outperform” rating and a price target of $62.00 on the company.
Morgan Keegan initiated coverage on SandRidge Energy Inc. (SD). They placed an “outperform” rating and a price target of $18.00 on the company.
Longbow Research initiated coverage on Mattel, Inc. (MAT). They placed a “buy” rating and a price target of $32.00 on the company.
Bank of America (NYSE:BAC) initiated coverage on Golar LNG Partners (GMLP). They placed a “neutral” rating and a price target of $26.00 on the company.
Longbow Research initiated coverage on Hasbro, Inc. (HAS). They placed a “neutral” rating on the company.
Macquarie initiated coverage on of Potash Corp (POT). They placed an “outperform” rating and a price target of $62.00 on the company.
Morgan Keegan initiated coverage on SandRidge Energy Inc. (SD). They placed an “outperform” rating and a price target of $18.00 on the company.
Longbow Research initiated coverage on Mattel, Inc. (MAT). They placed a “buy” rating and a price target of $32.00 on the company.
Wednesday, May 18, 2011
Coverage on (ONCY) (OPTR) (SD) (PMCS) (POT) Initiated
Coverage on Oncolytics Biotech, Inc. (NASDAQ: ONCY), Optimer Pharmaceutic (NASDAQ: OPTR), SandRidge Energy Inc. (NYSE: SD), PMC-Sierra, Inc. (NASDAQ: PMCS) and Potash Corp (NYSE: POT) was initiated by analysts.
Robert W. Baird initiated coverage on SandRidge Energy Inc. (SD). They placed a “neutral” rating and a price target of $12.00 on the company.
Oppenheimer analysts initiated coverage on Oncolytics Biotech, Inc. (ONCY). They placed a “perform” rating on the company.
ThinkEquity initiated coverage on Optimer Pharmaceutic (OPTR). They placed a “buy” rating and a price target of $18.00 on the company.
Auriga initiated coverage on PMC-Sierra, Inc. (PMCS). They placed a “hold” rating and a price target of $8.00 on the company.
Macquarie initiated coverage on Potash Corp (POT). They placed an “outperform” rating and a price target of $62.00 on the company.
Robert W. Baird initiated coverage on SandRidge Energy Inc. (SD). They placed a “neutral” rating and a price target of $12.00 on the company.
Oppenheimer analysts initiated coverage on Oncolytics Biotech, Inc. (ONCY). They placed a “perform” rating on the company.
ThinkEquity initiated coverage on Optimer Pharmaceutic (OPTR). They placed a “buy” rating and a price target of $18.00 on the company.
Auriga initiated coverage on PMC-Sierra, Inc. (PMCS). They placed a “hold” rating and a price target of $8.00 on the company.
Macquarie initiated coverage on Potash Corp (POT). They placed an “outperform” rating and a price target of $62.00 on the company.
Tuesday, May 17, 2011
Coverage on (ONCY) (OPTR) (SD) (PMCS) (POT) Initiated
Coverage on Oncolytics Biotech, Inc. (NASDAQ: ONCY), Optimer Pharmaceutic (NASDAQ: OPTR), SandRidge Energy Inc. (NYSE: SD), PMC-Sierra, Inc. (NASDAQ: PMCS) and Potash Corp (NYSE: POT) was initiated by analysts.
Robert W. Baird initiated coverage on SandRidge Energy Inc. (SD). They placed a “neutral” rating and a price target of $12.00 on the company.
Oppenheimer analysts initiated coverage on Oncolytics Biotech, Inc. (ONCY). They placed a “perform” rating on the company.
ThinkEquity initiated coverage on Optimer Pharmaceutic (OPTR). They placed a “buy” rating and a price target of $18.00 on the company.
Auriga initiated coverage on PMC-Sierra, Inc. (PMCS). They placed a “hold” rating and a price target of $8.00 on the company.
Macquarie initiated coverage on Potash Corp (POT). They placed an “outperform” rating and a price target of $62.00 on the company.
Robert W. Baird initiated coverage on SandRidge Energy Inc. (SD). They placed a “neutral” rating and a price target of $12.00 on the company.
Oppenheimer analysts initiated coverage on Oncolytics Biotech, Inc. (ONCY). They placed a “perform” rating on the company.
ThinkEquity initiated coverage on Optimer Pharmaceutic (OPTR). They placed a “buy” rating and a price target of $18.00 on the company.
Auriga initiated coverage on PMC-Sierra, Inc. (PMCS). They placed a “hold” rating and a price target of $8.00 on the company.
Macquarie initiated coverage on Potash Corp (POT). They placed an “outperform” rating and a price target of $62.00 on the company.
Coverage on (SD) (KWR) (LINE) (MAKO) (NKTR) Initiated
Coverage on SandRidge Energy Inc. (NYSE: SD), Quaker Chemical Co. (NYSE: KWR), Linn Energy, LLC (NASDAQ: LINE), MAKO Surgical (NASDAQ: MAKO) and Nektar Therapeutics (NASDAQ: NKTR) was initiated by analysts.
Morgan Keegan initiated coverage on SandRidge Energy Inc. (SD). They placed an “outperform” rating and a price target of $18.00 on the company.
Keybanc analysts initiated coverage on shares of Quaker Chemical Co. (KWR). They placed a “buy” rating and a price target of $50.00 on the company.
Madison Williams analysts initiated coverage on shares of Linn Energy, LLC (LINE). They placed a “buy” rating and a price target of $45.00 on the company.
Goldman Sachs (NYSE:GS) initiated coverage on MAKO Surgical (MAKO). They placed a “buy” rating on the company.
Boenning & Scattergood initiated coverage on Nektar Therapeutics (NKTR). They placed an “outperform” rating and a price target of $15.00 on the company.
Morgan Keegan initiated coverage on SandRidge Energy Inc. (SD). They placed an “outperform” rating and a price target of $18.00 on the company.
Keybanc analysts initiated coverage on shares of Quaker Chemical Co. (KWR). They placed a “buy” rating and a price target of $50.00 on the company.
Madison Williams analysts initiated coverage on shares of Linn Energy, LLC (LINE). They placed a “buy” rating and a price target of $45.00 on the company.
Goldman Sachs (NYSE:GS) initiated coverage on MAKO Surgical (MAKO). They placed a “buy” rating on the company.
Boenning & Scattergood initiated coverage on Nektar Therapeutics (NKTR). They placed an “outperform” rating and a price target of $15.00 on the company.
Wednesday, May 11, 2011
Ratings on (NUAN) (OMER) (PEP) (SD) Reiterated
Ratings on Nuance Communications Inc. (NASDAQ: NUAN), Omeros Corp (NASDAQ: OMER), PepsiCo, Inc. (NYSE: PEP) and SandRidge Energy Inc. (NYSE: SD) were reiterated by analysts.
Oppenheimer reiterated an “outperform” rating on Nuance Communications Inc. (NUAN). They have a price target of $25.00 on the company.
Deutsche Bank (NYSE:DB) reiterated a “hold” rating on Omeros Corp (OMER). They have a price target of $6.00 on the company.
Morgan Stanley (NYSE:MS) reiterated an “overweight” rating on PepsiCo, Inc. (PEP). They have a price target of $82.00 on the company.
Global Hunter Securities reiterated a “neutral” rating on SandRidge Energy Inc. (SD).
Oppenheimer reiterated an “outperform” rating on Nuance Communications Inc. (NUAN). They have a price target of $25.00 on the company.
Deutsche Bank (NYSE:DB) reiterated a “hold” rating on Omeros Corp (OMER). They have a price target of $6.00 on the company.
Morgan Stanley (NYSE:MS) reiterated an “overweight” rating on PepsiCo, Inc. (PEP). They have a price target of $82.00 on the company.
Global Hunter Securities reiterated a “neutral” rating on SandRidge Energy Inc. (SD).
Monday, May 9, 2011
Price Targets on (REGN) (SD) (TCB) (TESO) (VQ) Updated
Analysts updated their price targets on Regeneron Pharma (NASDAQ: REGN), SandRidge Energy Inc. (NYSE: SD), TCF Financial Co. (NYSE: TCB), Tesco Co. (NASDAQ: TESO) and Venoco, Inc. (NYSE: VQ) today.
Needham & Company raised their price target on Regeneron Pharms (REGN) from $49.00 to $60.00. They have a “buy” rating on the company.
Bank of America (NYSE:BAC) raised their price target on SandRidge Energy Inc. (NYSE: SD) from $10.00 to $11.00.
Compass Point raised their price target on TCF Financial Co. (TCB) from $14.00 to $16.00. They have a “neutral” rating on the company.
FBR Capital raised their price target on Tesco Co. (TESO) from $22.00 to $25.00. They have an “outperform” rating on the company.
Jefferies (NYSE:JEF) cut their price target on Venoco, Inc. (VQ) from $18.50 to $16.00.
Needham & Company raised their price target on Regeneron Pharms (REGN) from $49.00 to $60.00. They have a “buy” rating on the company.
Bank of America (NYSE:BAC) raised their price target on SandRidge Energy Inc. (NYSE: SD) from $10.00 to $11.00.
Compass Point raised their price target on TCF Financial Co. (TCB) from $14.00 to $16.00. They have a “neutral” rating on the company.
FBR Capital raised their price target on Tesco Co. (TESO) from $22.00 to $25.00. They have an “outperform” rating on the company.
Jefferies (NYSE:JEF) cut their price target on Venoco, Inc. (VQ) from $18.50 to $16.00.
Friday, May 6, 2011
EPS on (ONNN) (RIG) (SD) (TDC) (TLEO) (WEC) Updated
EPS estimates on ON Semiconductor (NASDAQ: ONNN), Transocean (NYSE: RIG), SandRidge Energy Inc. (NYSE: SD), Teradata Co. (NYSE: TDC), Taleo Corp (NASDAQ: TLEO) and Wisconsin Energy (NYSE: WEC) updated by analysts today.
Goldman Sachs (NYSE:GS) raised their EPS estimates on shares of ON Semiconductor (NASDAQ: ONNN). They have a “buy” rating and a price target of $12.00 on the company.
Morgan Stanley (NYSE:MS) cut their EPS estimates on Transocean (RIG). They have an “overweight” rating and a price target of $120.00 on the company.
UBS AG (NYSE:UBS) cut their EPS estimates on SandRidge Energy Inc. (SD). They now have a “neutral” rating and a price target o $11.50 on the company.
Oppenheimer raised their EPS estimates on Teradata Co. (TDC). They now have an “outperform” rating and a price target of $57.00 on the company.
Oppenheimer raised their EPS estimates on Taleo Corp (TLEO). They have an “outperform” rating and a price target of $41.00 on the company.
Goldman Sachs raised their EPS estimates on Wisconsin Energy (WEC). They have a “neutral” rating and a price target of $32.00 on the company.
Goldman Sachs (NYSE:GS) raised their EPS estimates on shares of ON Semiconductor (NASDAQ: ONNN). They have a “buy” rating and a price target of $12.00 on the company.
Morgan Stanley (NYSE:MS) cut their EPS estimates on Transocean (RIG). They have an “overweight” rating and a price target of $120.00 on the company.
UBS AG (NYSE:UBS) cut their EPS estimates on SandRidge Energy Inc. (SD). They now have a “neutral” rating and a price target o $11.50 on the company.
Oppenheimer raised their EPS estimates on Teradata Co. (TDC). They now have an “outperform” rating and a price target of $57.00 on the company.
Oppenheimer raised their EPS estimates on Taleo Corp (TLEO). They have an “outperform” rating and a price target of $41.00 on the company.
Goldman Sachs raised their EPS estimates on Wisconsin Energy (WEC). They have a “neutral” rating and a price target of $32.00 on the company.
Thursday, April 28, 2011
Analyst Upgrades for (RES) (RIG) (ROC) (SCG) (SD)
RPC, Inc (NYSE: RES), Transocean (NYSE: RIG), Rockwood Holdings, Inc. (NYSE: ROC), Scana Corporation (NYSE: SCG) and SandRidge Energy Inc. (NYSE: SD) received upgrades from analysts today.
Goldman Sachs (NYSE:GS) upgraded RPC, Inc (RES) from a “sell” rating to a “neutral” rating. They now have a price target of $28 on the company.
Duncan Williams upgraded Transocean (RIG) from a “reduce” rating to a “strong buy” rating. They have a price target of $93 on the company.
JPMorgan Chase & Co. (NYSE:JPM) upgraded Rockwood Holdings, Inc. (ROC). They have a price target of $55 on the company, up from $47.
Benchmark Co. upgraded Scana Corporation (SCG) from a “hold” rating to a “buy” rating. They have a price target of $44 on the company. They cited valuation as the catalyst.
Global Hunter Securities upgraded SandRidge Energy Inc. (SD) from a “reduce” rating to a “neutral” rating. They have a price target of $11.15 on the company, up from $6.75.
Goldman Sachs (NYSE:GS) upgraded RPC, Inc (RES) from a “sell” rating to a “neutral” rating. They now have a price target of $28 on the company.
Duncan Williams upgraded Transocean (RIG) from a “reduce” rating to a “strong buy” rating. They have a price target of $93 on the company.
JPMorgan Chase & Co. (NYSE:JPM) upgraded Rockwood Holdings, Inc. (ROC). They have a price target of $55 on the company, up from $47.
Benchmark Co. upgraded Scana Corporation (SCG) from a “hold” rating to a “buy” rating. They have a price target of $44 on the company. They cited valuation as the catalyst.
Global Hunter Securities upgraded SandRidge Energy Inc. (SD) from a “reduce” rating to a “neutral” rating. They have a price target of $11.15 on the company, up from $6.75.
Friday, February 25, 2011
SandRidge (SD) Soars After Upwardly Revised Oil Production Guidance
SandRidge (NYSE:SD) is up nearly 12% after raising its oil production guidance for the first time in six quarters.
It plans to produce 23.3 million barrels in 2011, up from the original 21.6 million.
The raised outlook came out with its fourth-quarter earnings release yesterday which reported a slightly narrower loss than analysts had expected.
It posted a net loss of $208.02 million or $0.53 per share, smaller than the $434.24 million in the same quarter in 2009.
Full Story
It plans to produce 23.3 million barrels in 2011, up from the original 21.6 million.
The raised outlook came out with its fourth-quarter earnings release yesterday which reported a slightly narrower loss than analysts had expected.
It posted a net loss of $208.02 million or $0.53 per share, smaller than the $434.24 million in the same quarter in 2009.
Full Story
Wednesday, February 23, 2011
Chesapeake (CHK), Range Resources (RRC), Ultra Petroleum (UPL), ATP (ATPG), GMX (GMXR), Sandridge (SD) Natural Gas Resources Undervalued
Here's a look at Chesapeake (CHK), Range Resources (RRC), Ultra Petroleum (UPL), ATP (ATPG), GMX (GMXR) and Sandridge (SD), which appear to have their natural gas resources undervalued.
We searched for exploration and production (E&P) companies with undervalued natural gas reserves. We think Exxon Mobil's (XOM) purchase of XTO, in addition to the flurry of deals completed by Chesapeake (CHK) has put a floor on valuations, going forward. The best deals around include the lowest cost producer in Marcellus, Range Resources (RRC), and Wyoming, Ultra Petroleum (UPL).
We think mixed oil and gas players in the deepwater, such as ATP Oil and Gas (ATPG), are also likely to fare well, given that there remains plenty of commodity price upside from here. GMX Resources (GMXR) and Sandridge (SD) tipped their hats toward oil in the near-term by introducing themselves to significant oil plays. The names we found are below.
GMX Resources (GMXR) announced on January 28 that it would buy 67,724 net acres of horizontal oil resources within the core development areas of the Bakken / Sanish-Three Forks Formation in the Williston Basin (Bakken) and the Niobrara Formation in the Denver Julesburg (DJ) Basin. The 67,724 net acres is includes 26,087 net acres in the Williston Basin, North Dakota and Montana targeting the Bakken/Sanish – Three Forks Formation and approximately 41,637 acres in the DJ Basin in Wyoming targeting the Niobrara Formation. In addition, this provides 342 additional horizontal drilling locations. The purchase is to be made in $1.8 million in cash and up to 2.7 million shares of stock.
Full Story
We searched for exploration and production (E&P) companies with undervalued natural gas reserves. We think Exxon Mobil's (XOM) purchase of XTO, in addition to the flurry of deals completed by Chesapeake (CHK) has put a floor on valuations, going forward. The best deals around include the lowest cost producer in Marcellus, Range Resources (RRC), and Wyoming, Ultra Petroleum (UPL).
We think mixed oil and gas players in the deepwater, such as ATP Oil and Gas (ATPG), are also likely to fare well, given that there remains plenty of commodity price upside from here. GMX Resources (GMXR) and Sandridge (SD) tipped their hats toward oil in the near-term by introducing themselves to significant oil plays. The names we found are below.
GMX Resources (GMXR) announced on January 28 that it would buy 67,724 net acres of horizontal oil resources within the core development areas of the Bakken / Sanish-Three Forks Formation in the Williston Basin (Bakken) and the Niobrara Formation in the Denver Julesburg (DJ) Basin. The 67,724 net acres is includes 26,087 net acres in the Williston Basin, North Dakota and Montana targeting the Bakken/Sanish – Three Forks Formation and approximately 41,637 acres in the DJ Basin in Wyoming targeting the Niobrara Formation. In addition, this provides 342 additional horizontal drilling locations. The purchase is to be made in $1.8 million in cash and up to 2.7 million shares of stock.
Full Story
Monday, January 31, 2011
SandRidge Energy (NYSE:SD) Launching Aggressive Drilling Campaign
SandRidge Energy (NYSE:SD) has initiated an aggressive drilling campaign to generate growth in oil production and reserves, but the shares will be under pressure on the need for SandRidge to raise more capital.
Global Hunter says, "SandRidge has undergone a radical transformation into an oil-centric company and is launching an aggressive drilling campaign to fuel growth in oil production and reserves. However, the impact of recent financings, and the need for external capital from divestments or additional financing temper our optimism for the shares...Our estimated 2011 cash flow per share of $1.16 per share is also ahead of the recent $1.00 per share
consensus estimate."
Global Hunter Securities initiateds coverage on SandRidge Energy (SD) with a "Reduce." Sandridge closed Friday at $7.27, up $0.11, or 1.54 percent. Global has a price targeton Sandridge of $6.50.
Global Hunter says, "SandRidge has undergone a radical transformation into an oil-centric company and is launching an aggressive drilling campaign to fuel growth in oil production and reserves. However, the impact of recent financings, and the need for external capital from divestments or additional financing temper our optimism for the shares...Our estimated 2011 cash flow per share of $1.16 per share is also ahead of the recent $1.00 per share
consensus estimate."
Global Hunter Securities initiateds coverage on SandRidge Energy (SD) with a "Reduce." Sandridge closed Friday at $7.27, up $0.11, or 1.54 percent. Global has a price targeton Sandridge of $6.50.
Thursday, January 6, 2011
SandRidge Energy (NYSE:SD) Raising $250 Million on IPO of Assets in Mississippian
SandRidge Energy (NYSE:SD) announced they're going to offer a part of its assets in Mississippian to raise about $250 million through an IPO via a trust they just made.
UBS noted, "SD plans to raise $250 million through an IPO of a portion of its Mississippian assets through a newly formed trust ("SDT"). SD is conveying to SDT: 1) a 90% royalty interest on PDPs (6.9 MMBoe reserve) and 2) a 50% royalty interest on PUDs (12.4 MMBoe reserve) on -42,600 net acres. SD will own 50.6% of SDT, (25.6% subordinated), with public unitholders owning 49.4%. S.D will commit to drill on 123 wells on the acreage by Dec 2014 (75% working interest)."
UBS maintains a "Neutral" on SandRidge Energy, which was trading at $7.83, up $0.29, or 3.85 percent. UBS boosted their price target on them from $6.05 to $8.
UBS noted, "SD plans to raise $250 million through an IPO of a portion of its Mississippian assets through a newly formed trust ("SDT"). SD is conveying to SDT: 1) a 90% royalty interest on PDPs (6.9 MMBoe reserve) and 2) a 50% royalty interest on PUDs (12.4 MMBoe reserve) on -42,600 net acres. SD will own 50.6% of SDT, (25.6% subordinated), with public unitholders owning 49.4%. S.D will commit to drill on 123 wells on the acreage by Dec 2014 (75% working interest)."
UBS maintains a "Neutral" on SandRidge Energy, which was trading at $7.83, up $0.29, or 3.85 percent. UBS boosted their price target on them from $6.05 to $8.
Tuesday, December 21, 2010
SandRidge Energy (NYSE:SD) Increasing Oil Production by 50 Percent in 2011
SandRidge Energy (NYSE:SD) announced its goal for 2011 oi production is to increase it by 50 percent.
That has left Susquehanna feeling bullish on Sandridge, as they believe it'll attract new investment over time.
As far as the short term, the increase in production will also increase expenditures, and that has resulted in Susquehanna lowering their EPS estimates on them for 2011 and 2012. For full year 2011, they've dropped it from $0.25 to $0.07, and for full year 2012 from $0.41 to $0.13.
The strategy put forth by Sandridge is to drill shallower wells at a quick pace which will cost them $730,000 a well and generate 40/bopd each.
SandRidge closed Monday at $6.82, up $0.17, or 2.56 percent. Susquehanna increased their price target on them from $7 to $9.
That has left Susquehanna feeling bullish on Sandridge, as they believe it'll attract new investment over time.
As far as the short term, the increase in production will also increase expenditures, and that has resulted in Susquehanna lowering their EPS estimates on them for 2011 and 2012. For full year 2011, they've dropped it from $0.25 to $0.07, and for full year 2012 from $0.41 to $0.13.
The strategy put forth by Sandridge is to drill shallower wells at a quick pace which will cost them $730,000 a well and generate 40/bopd each.
SandRidge closed Monday at $6.82, up $0.17, or 2.56 percent. Susquehanna increased their price target on them from $7 to $9.
Thursday, October 7, 2010
SandRidge (NYSE:SD) Receives "Hold" from Initial KeyBanc Coverage Rating
KeyBanc has initiated coverage on SandRidge Energy (NYSE:SD), starting them off with a "Hold."
Valuation of the Hold on Sandridge was one of the major factors, as they've gained over 27 percent in the last month.
"Over the course of about nine months, SandRidge Energy aggressively and successfully transitioned from a natural gas focused company to an oil focused company with considerable natural gas upside potential ... With 75% of 2H10 and over 95% of 2011 capital spending expected to be dedicated toward SD's new oil focused assets, we believe execution in these new assets will be key. While we are impressed by management's speed and success in repositioning the Company, we are taking a bit more of a wait and see approach as the Company executes on its new oil properties. Furthermore, SD's share price is up 27.7% over the last month, vs. peers up 6.8% and the S&P 500 up 2.9%," KeyBanc said.
SandRidge closed down at $5.70 Wednesday, dropping $0.17, or 2.90 percent.
Valuation of the Hold on Sandridge was one of the major factors, as they've gained over 27 percent in the last month.
"Over the course of about nine months, SandRidge Energy aggressively and successfully transitioned from a natural gas focused company to an oil focused company with considerable natural gas upside potential ... With 75% of 2H10 and over 95% of 2011 capital spending expected to be dedicated toward SD's new oil focused assets, we believe execution in these new assets will be key. While we are impressed by management's speed and success in repositioning the Company, we are taking a bit more of a wait and see approach as the Company executes on its new oil properties. Furthermore, SD's share price is up 27.7% over the last month, vs. peers up 6.8% and the S&P 500 up 2.9%," KeyBanc said.
SandRidge closed down at $5.70 Wednesday, dropping $0.17, or 2.90 percent.
Subscribe to:
Posts (Atom)