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"What is the Street missing," asks an agitated Leon Cooperman (owner of 24M shares) on the...

"What is the Street missing," asks an agitated Leon Cooperman (owner of 24M shares) on the SandRidge (SD -3.7%) earnings call. Noting TPG's estimate of the company's value is double the current price, Cooperman wants to know why the stock is languishing and how management plans to turn it around. In response, CEO Ward says the company continues to suffer from the "unorthodox" moves taken to stay afloat in 2009. He notes a string of earnings beats and the "extraordinary value" of the Mississippi play.
Comments (19)
  • Chris DeMuth Jr.
    , contributor
    Comments (5267) | Send Message
     
    Mr. Ward is correct that SD is an extraordinary value at a cost of around 50% of the value that can be unlocked by TPG-Axon's plan:

     

    http://bit.ly/YS7KVK
    1 Mar 2013, 10:39 AM Reply Like
  • pigeonguy
    , contributor
    Comments (128) | Send Message
     
    I am anxious to find out if TPG wins with their candidates. I thought Mr. Ward was a little reserved on his call today. He probably knows which way the proxy vote will end up going.
    1 Mar 2013, 10:46 AM Reply Like
  • sps7
    , contributor
    Comments (96) | Send Message
     
    The STREET HATES Tom Ward. Pretty simple. Zero confidence in his ability to increase SD share price. The street knows how Ward is stealing from the shareholders to the tune of hundreds of millions of dollars, he can beat estimates every qtr and it does not matter.....NO TRUST.
    1 Mar 2013, 10:55 AM Reply Like
  • TFCAB
    , contributor
    Comments (2006) | Send Message
     
    My bets have been placed and my proxy's submitted for TPG. its a binary call. Axon wins, lift off; Ward wins, explosion on the pad.
    1 Mar 2013, 11:10 AM Reply Like
  • svmur
    , contributor
    Comments (5) | Send Message
     
    Ward must go! Period!!
    1 Mar 2013, 11:32 AM Reply Like
  • Bob de'Long
    , contributor
    Comments (701) | Send Message
     
    This morning, CEO Tom Ward was consistenty evasive when he was asked out he keeps reporting weaker decline curves. Even his #2 man gave flimpsy answers.

     

    They were also evasive about the 50% IRRs they claim.

     

    SD is worth more without Tom Ward.
    1 Mar 2013, 11:40 AM Reply Like
  • dingojoe
    , contributor
    Comments (309) | Send Message
     
    I like this new word flimpsy--it combines the elements of both flimsy and wimpy.
    1 Mar 2013, 11:53 AM Reply Like
  • jeavant
    , contributor
    Comments (36) | Send Message
     
    WHEN IS TOM'S GOING DATE - NOT SOON ENOUGH.
    1 Mar 2013, 11:57 AM Reply Like
  • Mark Broer
    , contributor
    Comments (54) | Send Message
     
    Voted the Green Card on all my shares held in two accounts. Ward must go. Support TPG-Axon. Have you seen their slate of proposed director's? Seasoned corporate executives and directors from well-run companies. I researched them all.
    1 Mar 2013, 12:00 PM Reply Like
  • CDM Capital
    , contributor
    Comments (437) | Send Message
     
    Vote green and get rid of this corrupt CEO, Tom Ward has been milking this cow for some time now. It's about time the shareholders take this thing over and cut costs and re-align the long-term strategy. I would even suggest TPG put the company up for sale once they cut costs and restructure the business. It still appears to me based upon my math that a takeover multiple would be substantially higher than the current price, $9.00 plus.

     

    Best of luck longs, hope that TW is out in a few weeks.

     

    CDM
    1 Mar 2013, 12:57 PM Reply Like
  • goaliejim
    , contributor
    Comments (2) | Send Message
     
    From what I have read Leon Copperman was sitting on the fence on his decision to either support Tom Ward or TPG-Axon prior to his asking for an explanation of why the company has performed so poorly.

     

    I suspect that after Ward's answer to his question that he will vote his 24M shares with TPG-Axon
    1 Mar 2013, 02:25 PM Reply Like
  • gsrTea
    , contributor
    Comments (29) | Send Message
     
    If Ward was sincere he would back up his talk with actions. Like selling his 30 mil jet to start with. If he wants one, he should use his own money to buy, maintain and staff the jet, not SD payroll.
    2 Mar 2013, 03:21 AM Reply Like
  • OUSAOU
    , contributor
    Comments (79) | Send Message
     
    Tom Ward must go or his conflicts of interest within the SD business model must stop. It is inconceivable for any corporation to accept members of its BD to have conflicts of interests. I guess Tom Ward comes from a good school, CHK.
    1 Mar 2013, 10:05 PM Reply Like
  • gsrTea
    , contributor
    Comments (29) | Send Message
     
    Was there a lot of selling today? I bought today. Anyone else buy?
    2 Mar 2013, 03:21 AM Reply Like
  • GregCialini
    , contributor
    Comments (9) | Send Message
     
    when are the results of the vote due to be released?
    2 Mar 2013, 03:26 AM Reply Like
  • pigeonguy
    , contributor
    Comments (128) | Send Message
     
    The need to be submitted before March 15, 2013. Here is an article on this subject.
    http://natpo.st/XNx0YJ
    I checked several of the Sandridge news releases and could not find the last date to submit the proxy votes. I guess if they don't show a date Sandridge figures people will forget to vote and that is a vote for them.
    2 Mar 2013, 11:13 AM Reply Like
  • pigeonguy
    , contributor
    Comments (128) | Send Message
     
    Here is a link to Forbes on another article on SD proxy by Richard Finger.
    http://onforb.es/13wJZFg
    2 Mar 2013, 11:38 AM Reply Like
  • OUSAOU
    , contributor
    Comments (79) | Send Message
     
    SD management is of dubious character, to read and absorb with rubber gloves. This Tom Ward will pollute any news about SD to his advantage. It is sad that a corporation can continue to not represent the owner of the corporation. Rubber gloves are a good protection from this nasty pollution.
    I do not own at this time any of the SD trusts. I will reconsider once Tom Ward is neutralized, whatever way it may be.
    3 Mar 2013, 09:39 PM Reply Like
  • Remyngton
    , contributor
    Comments (354) | Send Message
     
    TPG and Leon .... who cares about these jokers
    5 Mar 2013, 09:56 PM Reply Like
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