SandRidge Energy (NYSE:SD) Upgraded at Freedom Capital

SandRidge Energy (NYSE:SD) was upgraded by equities research analysts at Freedom Capital from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities analysts also recently issued reports on SD. Wall Street Zen downgraded SandRidge Energy from a “buy” rating to a “hold” rating in a report on Sunday. Weiss Ratings raised SandRidge Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 6th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

SandRidge Energy Stock Performance

Shares of SandRidge Energy stock opened at $15.53 on Tuesday. SandRidge Energy has a one year low of $9.52 and a one year high of $18.45. The company has a market cap of $573.52 million, a PE ratio of 7.58 and a beta of 0.56. The business has a 50-day simple moving average of $15.68 and a 200-day simple moving average of $15.27.

SandRidge Energy (NYSE:SD) last announced its quarterly earnings data on Wednesday, May 6th. The oil and natural gas company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.18. SandRidge Energy had a return on equity of 12.31% and a net margin of 46.37%.The business had revenue of $49.78 million during the quarter, compared to the consensus estimate of $45.00 million.

Hedge Funds Weigh In On SandRidge Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC lifted its stake in SandRidge Energy by 10.1% in the first quarter. Empowered Funds LLC now owns 136,824 shares of the oil and natural gas company’s stock valued at $2,232,000 after buying an additional 12,560 shares during the last quarter. Quantinno Capital Management LP lifted its stake in SandRidge Energy by 24.1% in the first quarter. Quantinno Capital Management LP now owns 55,661 shares of the oil and natural gas company’s stock valued at $908,000 after buying an additional 10,811 shares during the last quarter. State of Wyoming purchased a new stake in SandRidge Energy in the first quarter valued at approximately $71,000. Cetera Investment Advisers purchased a new stake in SandRidge Energy in the first quarter valued at approximately $459,000. Finally, First Trust Advisors LP lifted its stake in SandRidge Energy by 27.5% in the first quarter. First Trust Advisors LP now owns 419,445 shares of the oil and natural gas company’s stock valued at $6,841,000 after buying an additional 90,524 shares during the last quarter. 61.84% of the stock is owned by institutional investors and hedge funds.

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.