Seeking Alpha

Changes made at SandRidge (SD -2.7%) add uncertainty to a company with no near-term growth...

Changes made at SandRidge (SD -2.7%) add uncertainty to a company with no near-term growth catalysts and a weak asset base, analysts say. UBS expects SD to "materially underperform” on production and growth; CapitalOne points out that even after any asset sales, SD will still be left with deteriorating Mississippi Lime properties and Gulf of Mexico assets “with minimal large-scale exploration well potential.”
Comments (18)
  • I guess that is why there are two sides to each market. However, such qualitative concerns appear to me to do more to explain the price of the stock than they do in understanding where it goes from here.
    14 Mar 2013, 12:36 PM Reply Like
  • oh, i look for a boost the day they actually can ward. it won't be murky much longer.
    14 Mar 2013, 12:44 PM Reply Like
  • can some one buy out sandrige for 10 a share, i can get it off my books??
    14 Mar 2013, 12:54 PM Reply Like
  • I think we should give more credit to Leon Cooperman and TPG that, considering the huge amount of money and due diligence spent on their activist efforts, they wouldn't be chasing a ghost !!! Can someone please check on the savvy success record of predictions made by the UBS and Capital One analysts? I am anxiously waiting for this information.
    14 Mar 2013, 01:10 PM Reply Like
  • TGP will receive up to $3.5 million in reimbursement for third party expenses they incurred.
    14 Mar 2013, 01:35 PM Reply Like
  • UBS apparently didn't read the Settlement Agreement. It contains plenty of "certainty" that did not exist prior.
    14 Mar 2013, 01:36 PM Reply Like
  • Typical comments from the analyst crowd.They tend to gang up on the company when things dont go their way.I read this morning that the company has a net asset value (NAV) of $20.When the (new) board takes over,they will look to sell the whole company.It wont happen untill the present board is out of the way.
    14 Mar 2013, 02:00 PM Reply Like
  • i would not be surprised if TPG-Axon already had feelers out to parties that may be interested in the assets either in whole or in part. I think that $20 NAV is a pipe dream......Ward and current board may be extra motivated to move quickly in order to leave with some sort of dignity.......no idea what the appetite for SD's assets would be. I my mind anything over $12/share wd be a gift that i'd gladly accept.
    14 Mar 2013, 02:35 PM Reply Like
  • 10. Would be just fine with me,but most likely it will be around 8/9
    14 Mar 2013, 03:52 PM Reply Like
  • Do you have a source for the $20 NAV?
    14 Mar 2013, 03:15 PM Reply Like
  • http://seekingalpha.co...
    14 Mar 2013, 06:01 PM Reply Like
  • Thanks. DS mentions in the comments that he "shouldn't have used that Mount Kellett valuation which is obviously dated for both the Permian sale and the crappy metrics CHK got for the Mississippian," so I think $20 is too optimistic.
    14 Mar 2013, 08:05 PM Reply Like
  • Strange I don't see the analysts opinions reflected in short positions against the company. Levels remain steady but we will see.
    14 Mar 2013, 03:16 PM Reply Like
  • Anyone scared should be in bonds. Its not like this is P&G its a spec to begin with.Hang tight we will Get 8$ anymore than that is gravy
    14 Mar 2013, 05:29 PM Reply Like
  • As a small invester I think the TPG fiasco has cost alot of investers $$, but we'll see if SD comes back-with the new board members-Is TPG "short" on SD
    15 Mar 2013, 05:36 AM Reply Like
  • how has tpg cost investors $$????? SD has been the most outrageously run company in energy, with incredibly overpaid salaries to ceo and bod, all at the investor's expense. ward and his cronies have really ripped off shareholders... to the extent that the stock's poor valuation is based on mistrust of the ceo ... else what tpg did wouldn't have been possible.

     

    ward and company have got to go. tpg did the right thing. the jig is up for tommy boy. it's all about liquidating to realize shareholder value from here on in.

     

    since i'm in at 5.64 ish, it's all a gift to me. i was planning to dump and run, but i think i'm going to sit on this and how it shakes out. $7 would be very nice, but 10 or 12 would be very, very nice :).

     

    i look for some upside today as sd stock gives a delayed reaction to nat gas price increases.
    15 Mar 2013, 05:53 AM Reply Like
  • This article is way off base. Read this article about the probable sale of SD which is being valued at $ 20.00 per share.

     

    http://seekingalpha.co...
    15 Mar 2013, 06:02 AM Reply Like
  • the key uncertainty going forward is whether the board will be able to fire tom ward without triggering his golden parachute. metaphorically, tpg hopes to push him out of the plane without a parachute.

     

    tom wants one last chance to nail the shareholders while he goes out the door.

     

    either way, tom will be history by the year's end.
    15 Mar 2013, 10:01 AM Reply Like
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