SandRidge Energy (NYSE:SD) Hits New 12-Month High – Still a Buy?

SandRidge Energy, Inc. (NYSE:SD) hit a new 52-week high during trading on Tuesday . The stock traded as high as $17.07 and last traded at $17.00, with a volume of 340442 shares. The stock had previously closed at $16.81.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SD. Wall Street Zen upgraded SandRidge Energy from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of SandRidge Energy in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

SandRidge Energy Stock Performance

The stock’s 50 day simple moving average is $14.84 and its 200 day simple moving average is $12.92. The firm has a market cap of $625.09 million, a PE ratio of 9.55 and a beta of 0.58.

Institutional Investors Weigh In On SandRidge Energy

A number of large investors have recently added to or reduced their stakes in the company. Creative Planning increased its position in shares of SandRidge Energy by 347.7% during the 2nd quarter. Creative Planning now owns 238,639 shares of the oil and natural gas company’s stock valued at $2,582,000 after purchasing an additional 185,334 shares during the last quarter. Azarias Capital Management L.P. boosted its stake in SandRidge Energy by 39.2% in the third quarter. Azarias Capital Management L.P. now owns 481,704 shares of the oil and natural gas company’s stock worth $5,434,000 after buying an additional 135,634 shares in the last quarter. Lazard Asset Management LLC grew its position in SandRidge Energy by 6,285.2% during the third quarter. Lazard Asset Management LLC now owns 130,130 shares of the oil and natural gas company’s stock valued at $1,468,000 after acquiring an additional 128,092 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in SandRidge Energy by 69.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 268,517 shares of the oil and natural gas company’s stock valued at $2,905,000 after acquiring an additional 110,322 shares during the last quarter. Finally, LSV Asset Management raised its stake in shares of SandRidge Energy by 126.9% during the fourth quarter. LSV Asset Management now owns 182,868 shares of the oil and natural gas company’s stock worth $2,639,000 after acquiring an additional 102,268 shares in the last quarter. Hedge funds and other institutional investors own 61.84% of the company’s stock.

About SandRidge Energy

SandRidge Energy, Inc (NYSE: SD) is an independent exploration and production company focused on the development of onshore oil and natural gas resources in the United States. The company concentrates its operations primarily in the Anadarko Basin, applying horizontal drilling and multi-stage hydraulic fracturing techniques to exploit unconventional reservoirs. SandRidge’s asset portfolio includes both crude oil and natural gas liquids, complemented by associated gas production, with infrastructure investments designed to optimize midstream availability and enhance capital efficiency.

Founded in 2006 by industry veteran Tom L.