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Analyst Rating In Review: SandRidge Energy Bid Up 1.9% Since Downgraded 7 Days Ago (SD)

Published on Thu, 03/14/2013 - 09:10
By Adrienne Chilton

One week ago SandRidge Energy (NYSE:SD) was downgraded from Market Perform to Underperform at BMO Capital. The shares closed at $5.85, or 1.9% over the $5.74 price of one week ago.

SandRidge Energy, Inc. explores, develops, and produces natural gas and crude oil in the United States. The areas of operation are West Texas, East Texas, and the Gulf Coast. The Company also has C02 treating and transportation facilities and tertiary oil recovery operations.

SandRidge Energy has overhead space with shares priced $5.78, or 11.3% below the average consensus analyst price target of $6.52. SandRidge Energy shares should first meet resistance at the 50-day moving average (MA) of $6.31 and find additional resistance at the 200-day MA of $6.47.

SandRidge Energy share prices have moved between a 52-week high of $8.57 and a 52-week low of $4.81 and are now trading 20% above that low price at $5.78 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has remained constant.

By Adrienne Chilton