Posts for Ticker ‘SD’

Earlybird Analyst Upgrades & Downgrades (AEP, CME, FNFG, KFT, LSTR, RGLD, SD, SBUX, TRI)

We still have well over two-hours until the opening bell this Thursday morning.  So far we have seen many select upgrades and downgrades from Wall Street analysts.  Here is what we have seen so far:

American Electric (NYSE: AEP) Raised to Overweight at JPMorgan.
CME Group Inc. (NYSE: CME) Cut to Market Perform at William Blair.
First Niagara Financial Group Inc. (NASDAQ: FNFG) Raised to Outperform at KBW.
Kraft Foods (NYSE: KFT) Cut to Neutral at UBS.
Landstar System Inc. (NASDAQ: LSTR) Cut to Neutral at Baird.
Royal Gold (NASDAQ: RGLD) Raised to Sector Perform at CIBC.
SandRidge Energy, Inc. (NYSE: SD) started as Buy at SunTrust Robinson.
Starbucks (NASDAQ: SBUX) Cut to Neutral at UBS.
Thomson Reuters (NYSE: TRI) Cut to Sell at Goldman Sachs.

Jon C. Ogg

Posted on: April 16, 2009 – 6:14 am in Analyst Calls, , , , , , , , ,

SandRidge CEO Unloads Shares (SD)

The CEO of SandRidge Energy, Inc. (NYSE: SD) sold approximately 8.90 million shares at $5.62/share in a private transaction in order to meet "debt service and tax planning needs." Tom Ward, SandRidge’s CEO, retained the option to purchase the shares back at the original price on February 16. The total value of the transaction was about $50 million. Mr. Ward still owns 29.05 million shares of SandRidge common stock.

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Posted on: January 5, 2009 – 10:49 am in Insider Activity, Oil & Gas,

Capital Spending Falls Off a Cliff (DVN, SD, ME, HES, EQT)

Oil_well_imageWe’ve been following recent announcements of pullbacks in capital spending in the oil and gas patch. Every day it seems, one or two more companies announce that capital spending will be cut by up to 50% from previously announced numbers.

Today’s crop of thrifty companies includes Devon Energy Corporation (NYSE:DVN), SandRidge Energy Inc. (NYSE:SD), and Mariner Energy, Inc. (NYSE:ME). Actually, Devon only announced that it would announce its 2009 capital budget "in early 2009" when it reports earnings for 2008. This is news because the company historically disclosed its spending plans in December for the following year. This development is not unlike Apple’s announcement that Steve Jobs won’t be attending the Macworld this year.

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Posted on: December 17, 2008 – 11:19 am in Oil & Gas, , , , ,

Speculative Oil & Gas Moves (SD, PINN)

Over at "VOLUME SPIKE" (vsinvestor.com) we were running some screens today and found two unusual option and stock movers worth noting today.  These two moves come from companies as different from each other as night and day, so besides them being in the same sector they are completely unrelated movers.  This was one of the oil & gas companies recently highlighted by none other than T. Boone Pickens when he was touting $150/barrel oil.

The first came in SandRidge Energy Inc. (NYSE: SD) with a highly unusual options volume trade in the SEP08 $80.00 CALLS.  That is more than any normal day’s implied volume by far if you look at the leverage of the contracts, and the stock has never traded at $80.00.  .

The second strange volume alert came in a much more speculative stock called Pinnacle Gas Resources, Inc. (NASDAQ: PINN).  It looks like traders are "speculating on speculators" as this was a thin volume stock that has been active the last two days.

Douglas A. McIntyre
June 19, 2008

Posted on: June 19, 2008 – 1:34 pm in HI/LOW, Oil & Gas, Options, ,

T. Boone Pickens: $150 Oil (EP, SD, XCO, CLNE, YHOO)

CNBC just hosted oil magnate T. Boone Pickens this morning in a sit down interview with Becky Quick.  Now that his $125 target on oil has been hit, he’s making a new prediction on oil prices.  He said oil prices are continuing to go up as 85 million barrels per day is as good as supply can get and 87 million barrels per day is the demand.  He also said the president wasted his time going to Saudi Arabia asking for more oil.

Pickens just said he thinks oil could and will likely go to $150 per barrel this year, and that will translate to a deficit spending in the U.S. of $900 Billion rather than $600 Billion at $100 oil.  As far as the old joke of $80 before he’s 80, he did joke about $160 before he’s 160 years old.

Pickens said natural gas is the one oil replacement we have and he also noted that ethanol is a joke and can only max out at about 6%.  He noted that these oil and gas exploration companies have made significant finds in natural gas:

  • El Paso Corp. (NYSE: EP)
  • SandRidge Energy, Inc. (NYSE: SD)
  • EXCO Resources Inc. (NYSE: XCO)

Of course he also noted wind energy, but noted solar too.  Becky asked him about his Clean Energy (NASDAQ: CLNE) company and he even dismissed that noting this was much bigger than his company.

This was a totally off-oil topic piece, but may be of interest as well.  As far as his opinion on Carl Icahn going into Yahoo! Inc. (NASDAQ: YHOO), he said he followed him into the stock and he owns 10 Million shares of Yahoo! now too.

Elsewhere in the oil patch:

Jon C. Ogg
May 20, 2008

Jon Ogg produces and edits the "10 Stocks Under $10" newsletter and he does not own securities in the companies he covers.

Posted on: May 20, 2008 – 7:16 am in Oil & Gas, , , , ,

Top 10 Pre-Market Analyst Calls (ABK, AEO, KR, OWW, PCLN, SD, SBUX, TSO, BAC, CFC, JPM, WB, WFC, COF, USB)

These are not the only analyst calls moving stocks today in pre-market trading, but these are the top calls that 247WallSt.com is reviewing this morning:

  • AMBAC Financial (ABK) raised to Outperform from Market Perform at FBR.
  • American Eagle Outfitters (AEO) raised to Outperform at Bear Stearns.
  • Kroger (KR) raised to Outperform from Neutral at Credit Suisse.
  • Orbitz (OWW) raised to Overweight from Equal-Weight at Lehman.
  • Priceline.com (PCLN) cut to Hold at Citigroup.
  • SandRidge Energy (SD) initiated after quiet-period: Banc of America at Buy; Bear Stearns at Peer Perform; J.P.Morgan at Neutral; Lehman Brothers at Overweight; RBC at Outperform.
  • Starbucks (SBUX) downgraded to Sector Perform at RBC.
  • Tesoro (TSO) raised to Buy at Citigroup.
  • Citigroup makes lage downgrades in Financial Stocks: Bank of America (BAC), Countrywide (CFC) First Horizon (FHN), JPMorgan Chase (JPM), MGIC (MTG), PNC Bank (PNC), Wachovia (WB) and Wells Fargo (WFC) ALL CUT TO HOLD; Capital One (COF), Comerica (CMA), M&T Bank (MTB), Radian (RDN), and US Bancorp (USB) ALL DOWNGRADED TO SELL.

Jon C. Ogg
December 17, 2007

Posted on: December 17, 2007 – 8:04 am in Analyst Calls, , , , , , , , , , , , , , ,

IPO Filing Alert: SandRidge Energy, Inc. (SD)

After Friday’s close, an energy drilling company called SandRidge Energy, Inc. filed to come public via an Initial Public Offering under the ticker "SD" on NYSE.  It may be worth a note that the company had a filing from early 2006 that was recently withdrawn, but the June 22, 2007 date is the new effective filing date.

SandRidge has not set terms yet, but the proposed maximum aggregate filing is for up to $690 million.  As far as underwriters it lists Lehman Brothers, Goldman Sachs, and Banc of America.

SandRidge is an independent natural gas and oil company concentrating in exploration, development and production in West Texas in a spot known as West Texas Overthrust, or “WTO,” a natural gas prone region where it has operated since 1986.  This includes the Piñon Field and its South Sabino and Big Canyon prospects.  SandRidge intends to add to its existing reserve and production base by increasing development drilling activities and exploration program in other prospects identified. As a result of 2006 acquisitions, it doubled net acreage positions in the WTO since January 2006 to become what it believes as the largest operator and producer in the WTO.  SadRidge also operates significant interests in the Cotton Valley Trend in East Texas, the Gulf Coast area, the Gulf of Mexico and the Piceance Basin of Colorado.  It owns and operates an extensive natural gas and oil property base with over 3,800 potential drilling locations (over 2,600 are in the WTO). As of December 31, 2006, it claims proved reserves were 1,001.8 Bcfe, of which 84.9% were natural gas and 99% were independently engineered; had 1,281 gross (916 net) producing wells. As of March 31, 2007, it had interests in over 1,093,852 gross (541,787 net) natural gas and oil leased acres and expects to have 30 rigs drilling in the WTO by the end of Q2 2007.

Tom L. Ward, the co-founder and former President & COO of Chesapeake Energy Corporation, purchased a significant ownership interest in June 2006 and joined as CEO and Chairman of the Board.  Since Mr. Ward joined the company it added eight new executive officers, substantially all of whom have experience at public exploration and production companies; and it added key professionals in exploration, operations, land, accounting and finance.  Its acquisitions have helped it grow rapidly with 2005 revenues at $287.6 million, 2006 revenues at $388.2 million, and Q1 2007 revenues $149 million (up from $85.9 million in Q1 2006).

Jon C. Ogg
June 23, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: June 23, 2007 – 1:58 pm in IPOs, Oil & Gas,