SandRidge Energy (SD) Raised to “Buy” at ValuEngine
ValuEngine upgraded shares of SandRidge Energy (NYSE:SD) from a hold rating to a buy rating in a research note published on Friday morning.
Separately, Zacks Investment Research upgraded shares of SandRidge Energy from a sell rating to a hold rating in a research report on Tuesday, August 22nd.
SandRidge Energy (NYSE:SD) traded down $0.01 during midday trading on Friday, hitting $18.87. 164,561 shares of the stock were exchanged, compared to its average volume of 250,047. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.04. SandRidge Energy has a 52 week low of $14.65 and a 52 week high of $24.76. The firm has a market capitalization of $673.37 and a P/E ratio of 8.50.
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 for the quarter, beating analysts’ consensus estimates of $0.22 by $0.13. SandRidge Energy had a negative net margin of 73.96% and a positive return on equity of 9.09%. The company had revenue of $80.89 million during the quarter, compared to the consensus estimate of $77.60 million. research analysts predict that SandRidge Energy will post 1.11 earnings per share for the current year.
In other SandRidge Energy news, major shareholder Carl C. Icahn acquired 869,184 shares of SandRidge Energy stock in a transaction that occurred on Monday, November 20th. The shares were bought at an average price of $16.11 per share, with a total value of $14,002,554.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Carl C. Icahn acquired 1,257,242 shares of SandRidge Energy stock in a transaction that occurred on Wednesday, November 22nd. The stock was acquired at an average cost of $16.34 per share, for a total transaction of $20,543,334.28. The disclosure for this purchase can be found here. Insiders own 3.60% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Federated Investors Inc. PA raised its holdings in shares of SandRidge Energy by 16.0% during the second quarter. Federated Investors Inc. PA now owns 582,650 shares of the oil and natural gas company’s stock valued at $10,027,000 after purchasing an additional 80,495 shares during the period. Voya Investment Management LLC acquired a new position in shares of SandRidge Energy during the second quarter valued at about $295,000. California State Teachers Retirement System acquired a new position in shares of SandRidge Energy during the second quarter valued at about $1,065,000. Vanguard Group Inc. raised its holdings in shares of SandRidge Energy by 26.9% during the second quarter. Vanguard Group Inc. now owns 1,323,094 shares of the oil and natural gas company’s stock valued at $22,770,000 after purchasing an additional 280,634 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of SandRidge Energy by 144.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 99,024 shares of the oil and natural gas company’s stock valued at $1,705,000 after purchasing an additional 58,556 shares during the period. 10.12% of the stock is currently owned by institutional investors.
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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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