Wunderlich Securities Still Has Questions About 2015 For SandRidge Energy

In a report published Friday, Wunderlich Securities analyst Jason A. Wangler reiterated a Sell rating and $1.00 price target on SandRidge Energy, Inc. (NYSE: SD).

In the report, Wunderlich Securities noted, “SandRidge Energy (SD) last night after the market close was able to file restated financial statements and its entire 3Q14 figures following the hold-up from the SEC about CO2 cost accruals. These numbers were essentially in line with Street estimates thanks to the company's partial release in November 2014 and frankly not much more detail was given outside of the numbers. That said, we have updated our numbers with the full historicals of 3Q14 included and, overall, our numbers don't change much. Our thesis remains unchanged given the low oil price environment as SandRidge's high debt level, declining liquidity position, and difficult economics cause us to believe there remains downside to the story.”

SandRidge Energy closed on Thursday at $1.30.