5 Energy Stocks Loved By Billionaire Leon Cooperman

These energy stocks could be set to skyrocket

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SandRidge Energy

sandridge 185 5 Energy Stocks Loved By Billionaire Leon CoopermanWith founder and former CEO Tom Ward out at SandRidge Energy (SD), it’s a whole new ballgame.

Ward was criticized for using SandRidge as his own personal cash cow, while investors lost 80% since the company went public back in 2007. That led to his ouster, and now investors are once again able to focus strictly on the E&P firms prospects.

During the past few years, the company has begun to transition from a strictly natural-gas-focused company to one with broader energy ambitions. That includes adding acreage and exposure to both on- and offshore fields. Rising production at these new sites — like in the Mississippi Lime and the Gulf of Mexico — have helped bolster cash flows and reduce debt.

SandRidge is a turnaround story waiting to happen, and Cooperman has bet big on that happening. The hedge fund manager raised his stake in SD by more than 2 million shares this past quarter and now owns a whopping 26.5 million shares. Cooperman could make a mint off of SandRidge as estimates for its real value range anywhere from the $9 to $12 range — much higher than the current going price of $4.77.

As of this writing, Aaron Levitt did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, http://investorplace.com/2013/07/5-energy-stocks-loved-by-billionaire-leon-cooperman/.

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