SandRidge Energy, Inc. (SD) Stock Price Up 5.3% After Insider Buying Activity
Shares of SandRidge Energy, Inc. (NYSE:SD) rose 5.3% on Thursday after an insider bought additional shares in the company. The stock traded as high as $17.52 and last traded at $17.50. Approximately 592,800 shares changed hands during trading, an increase of 157% from the average daily volume of 230,951 shares. The stock had previously closed at $16.62.
Specifically, major shareholder Carl C. Icahn purchased 869,184 shares of the business’s stock in a transaction on Monday, November 20th. The shares were bought at an average cost of $16.11 per share, for a total transaction of $14,002,554.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Carl C. Icahn purchased 1,257,242 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was acquired at an average price of $16.34 per share, for a total transaction of $20,543,334.28. The disclosure for this purchase can be found here. 3.60% of the stock is currently owned by company insiders.
Several brokerages have issued reports on SD. Zacks Investment Research raised SandRidge Energy from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. ValuEngine raised SandRidge Energy from a “hold” rating to a “buy” rating in a report on Monday, October 2nd.
The firm has a market cap of $592.77 and a price-to-earnings ratio of 7.49. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.12 and a quick ratio of 1.12.
SandRidge Energy (NYSE:SD) last released its quarterly earnings results on Wednesday, November 1st. The oil and natural gas company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.13. SandRidge Energy had a positive return on equity of 9.09% and a negative net margin of 73.96%. The firm had revenue of $80.89 million for the quarter, compared to analyst estimates of $77.60 million. analysts forecast that SandRidge Energy, Inc. will post 1.11 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA acquired a new stake in shares of SandRidge Energy during the 2nd quarter valued at approximately $119,000. Legal & General Group Plc acquired a new stake in shares of SandRidge Energy during the 2nd quarter valued at approximately $152,000. SG Americas Securities LLC acquired a new stake in shares of SandRidge Energy during the 3rd quarter valued at approximately $191,000. California Public Employees Retirement System acquired a new stake in shares of SandRidge Energy during the 1st quarter valued at approximately $209,000. Finally, UBS Asset Management Americas Inc. lifted its position in shares of SandRidge Energy by 28.0% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 14,645 shares of the oil and natural gas company’s stock valued at $252,000 after acquiring an additional 3,200 shares during the period. 68.15% of the stock is currently owned by hedge funds and other institutional investors.
About SandRidge Energy
SandRidge Energy, Inc is an oil and natural gas company. The Company is engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. It operates through two segments: exploration and production, which is engaged in the exploration and production of oil and natural gas properties and includes its proportionate share of the activities of the SandRidge Mississippian Trust I, SandRidge Mississippian Trust II and SandRidge Permian Trust (the Royalty Trusts), and midstream services, which coordinates the delivery of electricity to its exploration and production operations in the Mid-Continent.
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