Zacks Investment Research upgraded shares of Sandridge Mississippian Trust I (NYSE:SDT) from a sell rating to a hold rating in a research report report published on Friday, Analyst Ratings Net reports.
According to Zacks, “SandRidge Mississippian Trust was formed by SandRidge Energy, Inc. to own certain royalty interests in oil and natural gas wells in northern Oklahoma producing from the Mississippian formation. SandRidge Mississippian Trust is based in Austin, Texas. “
Shares of Sandridge Mississippian Trust I (NYSE:SDT) opened at 2.75 on Friday. Sandridge Mississippian Trust I has a 12 month low of $1.90 and a 12 month high of $5.43. The firm has a market cap of $77.00 million and a PE ratio of 2.32. The company’s 50 day moving average is $2.34 and its 200-day moving average is $2.79.
The company also recently announced a quarterly dividend, which was paid on Friday, February 26th. Investors of record on Friday, February 12th were issued a dividend of $0.311 per share. The ex-dividend date of this dividend was Wednesday, February 10th. This represents a $1.24 dividend on an annualized basis and a yield of 45.40%.
SandRidge Mississippian Trust I (NYSE:SDT) is a statutory trust formed pursuant to a trust agreement by and among SandRidge Energy, Inc (SandRidge) as Trustor, The Bank of New York Mellon Trust Company, N.A. as Trustee (the Trustee) and The Corporation Trust Company as Delaware Trustee (the Delaware Trustee).
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