Boston, MA 10/17/2013 (wallstreetpr) – Considering the territory that SandRidge Energy Inc. (NYSE:SD) is sliding into due to its future potential, this oil and gas manufacturer could be just what the Chinese oil company Pepsol is looking for in a takeover deal.
Pepsol has for a long time nursed the ambition to buy an oil and gas-based asset to give it strong footprint in the mainland U.S. market. SD looks, if not already speculated, as the Chinese oil company’s best bet into the North America’s foray.
SD has declared to announce its Q3.13 operations and financial reports on November 5. Over the past six months, the oil company has had good rally with significant increase in its market capitalization. As the Q3 results beacon, both its institutional and retail investors are hoping that the company’s current $3.26 billion market cap can be sustained and increased to signal a clear break from previous challenges.
That SD is poised for great things can be seen in Goldman Sachs prospects on the stock. The agency has placed the stock at neutral on a price objective of $6. It is not without reason that SD has got this far with sustained gains, the company recently announced 4% production forecast in 2013 for Mississippi Lime mine.
In the Q2.13 results, SD announced results which exceeded its own forecast and also smashed analysts’ estimates. For the semi-annual dividend, the company announced payout of $3.50 per share on convertible preferred stock. This payout will be done next month around 15 and it captures investors on record as of November 15. SD has issued 3 million shares of the 7.0% Convertible Preferred Stock.
Soon after the earnings release on November 5, SD will convene a conference call a few hours later on the same day in which the senior managers will deliver keynote addresses to the audience comprising investors, analysts and clients.
The shares of SD traded up 2.83% at the close of business on Wednesday, October 16.
