NEW YORK (TheStreet) -- SandRidge Energy (SD) - Get Report shares are down -8.7% to $5.26 on Thursday after being downgraded to "neutral" from "accumulate" by analysts at Global Hunter Securities (GBLHF) , who also lowered their price target to $7 from $8.
The downgraded outlook is in response to the independent oil and natural gas company's disappointing second quarter revenues.
The company reported a 27% decline in revenue from the previous year to $374.7 million, short of analysts expectations of $391.9 million.
TheStreet Ratings team rates SANDRIDGE ENERGY INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate SANDRIDGE ENERGY INC (SD) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, increase in net income and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, poor profit margins and weak operating cash flow."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: SD Ratings Report