SandRidge Energy (NYSE:SD) Issues Earnings Results

SandRidge Energy (NYSE:SD) posted its quarterly earnings data on Wednesday. The oil and natural gas company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.10, Zacks reports. SandRidge Energy had a net margin of 51.77% and a return on equity of 10.05%. The business had revenue of $39.82 million for the quarter, compared to the consensus estimate of $38.80 million.

SandRidge Energy Price Performance

Shares of SD stock traded down $0.15 during trading hours on Friday, reaching $12.67. 147,524 shares of the stock were exchanged, compared to its average volume of 307,743. The business’s fifty day moving average is $11.67 and its two-hundred day moving average is $10.93. The firm has a market capitalization of $465.46 million, a P/E ratio of 6.19 and a beta of 0.91. SandRidge Energy has a 12-month low of $8.81 and a 12-month high of $13.43.

SandRidge Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, November 14th. SandRidge Energy’s dividend payout ratio (DPR) is presently 26.97%.

Insider Transactions at SandRidge Energy

In related news, Director Vincent J. Intrieri purchased 25,000 shares of SandRidge Energy stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average cost of $10.96 per share, with a total value of $274,000.00. Following the completion of the transaction, the director directly owned 46,976 shares in the company, valued at approximately $514,856.96. The trade was a 113.76% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its position in SandRidge Energy by 92.8% in the second quarter. Tower Research Capital LLC TRC now owns 3,852 shares of the oil and natural gas company’s stock valued at $42,000 after purchasing an additional 1,854 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of SandRidge Energy by 23.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,995 shares of the oil and natural gas company’s stock valued at $151,000 after buying an additional 2,688 shares during the period. Gabelli Funds LLC acquired a new stake in shares of SandRidge Energy in the 2nd quarter valued at approximately $190,000. Franklin Resources Inc. boosted its stake in shares of SandRidge Energy by 18.9% in the second quarter. Franklin Resources Inc. now owns 21,355 shares of the oil and natural gas company’s stock valued at $231,000 after buying an additional 3,396 shares in the last quarter. Finally, Quantbot Technologies LP grew its holdings in SandRidge Energy by 15.8% during the second quarter. Quantbot Technologies LP now owns 21,769 shares of the oil and natural gas company’s stock worth $236,000 after acquiring an additional 2,977 shares during the period. 61.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of SandRidge Energy in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

About SandRidge Energy

SandRidge Energy, Inc engages in the acquisition, development, and production of oil, natural gas, and natural gas liquids in the United States Mid-Continent. The company was incorporated in 2006 and is headquartered in Oklahoma City, Oklahoma.