Short Interest in SandRidge Energy (SD) Rises By 49.5%
SandRidge Energy (NYSE:SD) was the target of a large growth in short interest during the month of April. As of April 30th, there was short interest totalling 1,379,575 shares, a growth of 49.5% from the April 13th total of 923,023 shares. Approximately 4.4% of the company’s shares are short sold. Based on an average daily volume of 274,106 shares, the short-interest ratio is currently 5.0 days.
Shares of SandRidge Energy opened at $14.79 on Thursday, according to Marketbeat.com. SandRidge Energy has a fifty-two week low of $14.58 and a fifty-two week high of $14.72. The company has a market capitalization of $508.76 million, a PE ratio of 9.19 and a beta of 0.83.
SandRidge Energy (NYSE:SD) last issued its quarterly earnings results on Monday, May 7th. The oil and natural gas company reported $0.15 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.20. SandRidge Energy had a positive return on equity of 4.38% and a negative net margin of 12.90%. The firm had revenue of $87.13 million for the quarter, compared to the consensus estimate of $86.70 million. research analysts anticipate that SandRidge Energy will post -0.14 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Ingalls & Snyder LLC raised its holdings in shares of SandRidge Energy by 32.0% in the fourth quarter. Ingalls & Snyder LLC now owns 20,612 shares of the oil and natural gas company’s stock worth $434,000 after buying an additional 5,000 shares during the period. Meeder Asset Management Inc. raised its holdings in shares of SandRidge Energy by 3,252.5% in the fourth quarter. Meeder Asset Management Inc. now owns 6,772 shares of the oil and natural gas company’s stock worth $142,000 after buying an additional 6,570 shares during the period. SG Americas Securities LLC purchased a new stake in shares of SandRidge Energy in the first quarter worth approximately $102,000. California Public Employees Retirement System raised its holdings in shares of SandRidge Energy by 20.0% in the first quarter. California Public Employees Retirement System now owns 43,095 shares of the oil and natural gas company’s stock worth $625,000 after buying an additional 7,177 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of SandRidge Energy by 7.0% in the first quarter. Wells Fargo & Company MN now owns 140,081 shares of the oil and natural gas company’s stock worth $2,033,000 after buying an additional 9,190 shares during the period. Hedge funds and other institutional investors own 55.41% of the company’s stock.
About SandRidge Energy
SandRidge Energy, Inc engages in the exploration, development, and production of oil, natural gas, and natural gas liquids primarily in the Mid-Continent and North Park Basin of the United States. As of December 31, 2017, it had 2,096.8 net producing wells; approximately 643,000 net acres under lease; and two rigs drilling in the Mid-Continent and two rigs drilling in the North Park Basin, as well as total estimated proved reserves of 177.6 million barrels of oil equivalent.
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