Today's Research Reports on Stocks to Watch: SandRidge Energy and Weatherford International
NEW YORK, NY / ACCESSWIRE / November 27, 2017 / Activist investor Carl Icahn is against SandRidge's proposed deal to buy Bonanza Creek Energy. So much that he has purchased a huge stake in the company which has made him the biggest shareholder. Shares of the stock saw gains over 14% on Friday. Shares of Weatherford hit into red territory however after traders learned that the company has appointed advisors to start selling off units in the first quarter of 2018.
RDI Initiates Coverage on:
SandRidge Energy, Inc.
https://rdinvesting.com/news/?ticker=SD
Weatherford International plc
https://rdinvesting.com/news/?ticker=WFT
SandRidge Energy, Inc. shares closed up 8% this past Friday on a little over 1.1 million shares traded. It was an exciting trading week for the company after it was revealed that activist investor Carl Icahn has disclosed a big stake in the company. Shares jumped as high as over 14% on Friday. It was on Wednesday that ICahn's 13.51% stake in the company was revealed. He is now the largest shareholder in the company. Icahn has said that he would oppose the company's $746 million bid for Bonanza Creek Energy. Another stake holder Fir Tree Partners, is also against the proposed deal and has criticized it. SandRidge had offered $36 for Bonanza Creek on November 15th. According to Icahn, the deal is "nonsensical." He had been buying shares of the company in October and purchased millions of more shares after the Bonanza Creek deal was announced. Shares of SandRidge are down around 20% this year so far.
Access RDI's SandRidge Energy, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=SD
Weatherford International plc shares closed up nearly 6% on Friday on nearly 12.7 million shares traded. According to banking sources who spoke to Reuters, Weatherford has appointed advisors to start selling units in the first quarter of 2018. The units, according to the company will be ones that "are not critical to our strategy going forward." The company is expecting to raise around $500 million in the restructuring of some parts of the business. According to three banking sources, Weatherford is looking to offload its artificial lift business and that "this process is already underway and the company hopes to monetize some of the rigs before the end of the year."
Access RDI's Weatherford International plc Research Report at:
https://rdinvesting.com/news/?ticker=WFT
Our Actionable Research on SandRidge Energy, Inc. (NYSE: SD) and Weatherford International plc (NYSE: WFT) can be downloaded free of charge at Research Driven Investing.
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Nadia Noorani, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
CONTACT
For any questions, inquiries, or comments reach out to us directly at:
Address:
Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011
Email:
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: RDInvesting.com
