SandRidge Energy (SD) Trading 10.1% Higher

Shares of SandRidge Energy, Inc. (NYSE:SD) traded up 10.1% during mid-day trading on Monday . The company traded as high as $21.50 and last traded at $21.07. 1,524,100 shares changed hands during trading, an increase of 456% from the average session volume of 274,269 shares. The stock had previously closed at $19.14.

A number of research firms have weighed in on SD. ValuEngine upgraded SandRidge Energy from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research cut SandRidge Energy from a “hold” rating to a “sell” rating in a report on Wednesday, September 27th.

The stock has a market capitalization of $751.48 and a price-to-earnings ratio of -1.38. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.12 and a quick ratio of 1.12.

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, topping the Zacks’ consensus estimate of $0.22 by $0.13. The firm had revenue of $80.89 million during the quarter, compared to analysts’ expectations of $77.60 million. SandRidge Energy had a positive return on equity of 9.09% and a negative net margin of 73.96%. equities research analysts anticipate that SandRidge Energy, Inc. will post 1.45 earnings per share for the current year.

In other SandRidge Energy news, major shareholder Carl C. Icahn bought 869,184 shares of the business’s stock in a transaction on Monday, November 20th. The shares were bought at an average cost of $16.11 per share, with a total value of $14,002,554.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Carl C. Icahn bought 1,257,242 shares of the business’s stock in a transaction 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. 3.60% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System acquired a new position in shares of SandRidge Energy in the 2nd quarter valued at approximately $1,065,000. Voya Investment Management LLC acquired a new position in shares of SandRidge Energy in the 2nd quarter valued at approximately $295,000. Vanguard Group Inc. raised its position in shares of SandRidge Energy by 26.9% in the 2nd 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 in the last quarter. Boston Partners raised its position in shares of SandRidge Energy by 28.1% in the 3rd quarter. Boston Partners now owns 128,997 shares of the oil and natural gas company’s stock valued at $2,592,000 after purchasing an additional 28,266 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of SandRidge Energy by 144.7% in the 2nd 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 in the last quarter. 85.28% of the stock is currently owned by institutional investors.

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SandRidge Energy Company Profile

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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