Global Hunter Securities Reports on SandRidge Energy (SD)

In a report released today, Global Hunter Securities commented on SandRidge Energy

. In the report, Global Hunter was mixed on its outlook for the company. Global Hunter writes, “SandRidge reported 1Q11 results between our estimates and consensus. Just when SandRidge appeared to be (almost) operating within its capital structure, the company is undertaking steps to double its Mississippian drilling activity in 2012 and will determine how to fund it later. We are maintaining our Neutral rating and lowering our price target to $10.83, based on 10x 2Q12 EBITDAX (ttm)less projected net debt.” Global Hunter has a Neutral rating on SandRidge Energy. Shares of the company closed the trading day at $10.94, down $0.12 from the open.