5 Energy Stocks Under $10 to Buy Now

These low-priced cheap stocks could be big winners this year

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5 Energy Stocks Under $10 to Buy Now

Energy Stocks Under $10 to Buy Now: SandRidge Energy (SD)

sandridge 185 5 Energy Stocks Under $10 to Buy NowFirst on our list of cheap energy stocks under $10 a share is a company whose fortunes have changed thanks to shareholder and hedge fund activism.

SandRidge Energy’s (SD) founder and CEO Tom Ward was politely shown the door after years of “robbing shareholders blind.” High debt and a series of acquisitions gone bad caused SandRidge Energy stock to fall around 80% since going public back in 2007.

Of course, that’s also made SandRidge one of the cheapest energy stocks out there, currently going for just over $6 a share. Plus, a turnaround could be at hand for SandRidge Energy.

See, SandRidge has recently undergone some major asset sales to right its ship. The energy stock sold its offshore Gulf of Mexico assets to a private buyer for $750 million dollars. While that sale was at a loss — based on the purchase price of those assets — SD now has the cash and ability to solely focus on its onshore unconventional plays. Those include acreage in the Mid-Continent, the Permian Basin, and the up-and-coming Mississippi Lime Field formation in Oklahoma and Texas.

SandRidge Energy expects production to see 37% growth this year by redeploying the offshore capital into its Mid-Continent assets. More importantly, the bulk of that production growth will be higher valued shale oil and NGLs. Overall, that could finally be the catalysts to take SandRidge off our list of cheap energy stocks under $10 as it soars into double digits.


Article printed from InvestorPlace Media, http://investorplace.com/2014/01/energy-stocks-under-10/.

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