SandRidge Energy (NYSE:SD) Stock Lifted to Hold by Zacks Research
by Danessa Lincoln · The Markets DailyZacks Research upgraded shares of SandRidge Energy (NYSE:SD – Free Report) to a hold rating in a research report released on Monday,Zacks reports.
Several other equities research analysts have also commented on the stock. Weiss Ratings lowered shares of SandRidge Energy from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 16th. Wall Street Zen downgraded shares of SandRidge Energy from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.
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SandRidge Energy Stock Performance
Shares of SandRidge Energy stock opened at $13.78 on Monday. SandRidge Energy has a one year low of $11.20 and a one year high of $18.45. The company has a market cap of $510.78 million, a P/E ratio of 6.15 and a beta of 0.71. The firm has a fifty day moving average of $14.06 and a two-hundred day moving average of $14.53.
SandRidge Energy (NYSE:SD – Get Free Report) last issued its earnings results on Wednesday, August 5th. The oil and natural gas company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.18). The firm had revenue of $51.12 million during the quarter, compared to analysts’ expectations of $59.00 million. SandRidge Energy had a net margin of 46.06% and a return on equity of 13.62%. As a group, equities analysts predict that SandRidge Energy will post 2.13 earnings per share for the current year.
SandRidge Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Wednesday, August 19th were given a $0.13 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.52 annualized dividend and a dividend yield of 3.8%. SandRidge Energy’s payout ratio is currently 23.21%.
Hedge Funds Weigh In On SandRidge Energy
Hedge funds have recently added to or reduced their stakes in the business. Ruggaard & Associates LLC increased its position in SandRidge Energy by 17.7% during the 1st quarter. Ruggaard & Associates LLC now owns 12,551 shares of the oil and natural gas company’s stock worth $205,000 after purchasing an additional 1,884 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in SandRidge Energy during the second quarter worth approximately $29,000. Strs Ohio acquired a new position in SandRidge Energy in the first quarter valued at $57,000. State of Wyoming acquired a new position in shares of SandRidge Energy in the 1st quarter valued at about $71,000. Finally, First Wilshire Securities Management Inc. lifted its position in SandRidge Energy by 0.5% during the first quarter. First Wilshire Securities Management Inc. now owns 1,407,863 shares of the oil and natural gas company’s stock valued at $22,962,000 after buying an additional 6,886 shares in the last quarter. 61.84% of the stock is currently owned by hedge funds and other institutional investors.
SandRidge Energy Company Profile
SandRidge Energy, Inc is an independent oil and natural gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company acquires, develops and operates oil and gas properties, with production that includes crude oil, natural gas and natural gas liquids.
SandRidge’s operations are concentrated in the Mid-Continent region of the United States, particularly in Oklahoma and Kansas. Its activities include drilling, completing and operating wells, as well as managing the associated gathering and production infrastructure used to bring hydrocarbons to market.
Founded in 2006, SandRidge Energy has undergone significant changes in its corporate and asset structure over time.