SandRidge Energy (NYSE:SD) Trading Down 5.3% – Here’s Why

Shares of SandRidge Energy, Inc. (NYSE:SD) traded down 5.3% during mid-day trading on Wednesday . The company traded as low as $15.32 and last traded at $15.44. 64,360 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 379,783 shares. The stock had previously closed at $16.31.

Analyst Ratings Changes

SD has been the subject of a number of analyst reports. Wall Street Zen downgraded SandRidge Energy from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings raised shares of SandRidge Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 6th. Finally, Freedom Capital downgraded shares of SandRidge Energy from a “strong-buy” rating to a “strong sell” rating in a research note on Tuesday, March 10th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, SandRidge Energy has an average rating of “Hold”.

SandRidge Energy Stock Up 2.0%

The stock has a market cap of $569.76 million, a PE ratio of 8.14 and a beta of 0.66. The firm has a fifty day moving average of $16.69 and a 200 day moving average of $14.43.

SandRidge Energy (NYSE:SD) last announced its quarterly earnings results on Wednesday, March 4th. The oil and natural gas company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The business had revenue of $39.40 million for the quarter, compared to analysts’ expectations of $43.70 million. SandRidge Energy had a return on equity of 11.24% and a net margin of 44.90%.

SandRidge Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 20th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Friday, March 20th. SandRidge Energy’s dividend payout ratio is 25.26%.

Hedge Funds Weigh In On SandRidge Energy

Several hedge funds have recently added to or reduced their stakes in the stock. Federation des caisses Desjardins du Quebec lifted its position in shares of SandRidge Energy by 0.9% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 98,080 shares of the oil and natural gas company’s stock worth $1,415,000 after buying an additional 900 shares during the last quarter. Invesco Ltd. grew its position in shares of SandRidge Energy by 1.5% in the 2nd quarter. Invesco Ltd. now owns 59,816 shares of the oil and natural gas company’s stock valued at $647,000 after buying an additional 907 shares during the last quarter. Sanctuary Advisors LLC grew its position in shares of SandRidge Energy by 9.1% in the 4th quarter. Sanctuary Advisors LLC now owns 11,867 shares of the oil and natural gas company’s stock valued at $171,000 after buying an additional 994 shares during the last quarter. NewEdge Advisors LLC raised its stake in SandRidge Energy by 11.1% during the 3rd quarter. NewEdge Advisors LLC now owns 10,000 shares of the oil and natural gas company’s stock worth $113,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in SandRidge Energy by 4.8% in the fourth quarter. Russell Investments Group Ltd. now owns 26,003 shares of the oil and natural gas company’s stock valued at $375,000 after acquiring an additional 1,199 shares during 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 (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.