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UPDATE: Canaccord Genuity Reiterates Hold Rating, Lowers PT on SandRidge Energy

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In a report published Monday, Canaccord Genuity reiterated its Hold rating on SandRidge Energy (NYSE: SD), but lowered its price target from $6.00 to $4.00.

Canaccord Genuity noted, “We are reducing our target price $2 to $4 per share due to $400 million lower per annum capital spending, a higher gas composition in the Mississippian play and consequently lower oil production outlook. SandRidge's capital spending/production relationship suggests the company's capital intensity is comparable to Bakken/Three Forks players.”

SandRidge Energy closed on Friday at $5.51.

Latest Ratings for SD

DateFirmActionFromTo
May 2015Stephens & Co.MaintainsOverweight
Apr 2015Goldman SachsResumesSell
Mar 2015Global HunterDowngradesNeutralSell

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Posted-In: Canaccord GenuityAnalyst Color Price Target Analyst Ratings

 

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