SandRidge Energy (NYSE:SD) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of SandRidge Energy (NYSE:SD – Get Rating) from a hold rating to a buy rating in a research note published on Friday.

SandRidge Energy Price Performance

Shares of SD stock opened at $17.70 on Friday. The firm has a market cap of $650.12 million, a PE ratio of 4.43 and a beta of 2.44. The company has a 50-day moving average of $19.27 and a two-hundred day moving average of $16.98. SandRidge Energy has a 1-year low of $6.12 and a 1-year high of $29.28.

SandRidge Energy (NYSE:SD – Get Rating) last announced its earnings results on Wednesday, May 4th. The oil and natural gas company reported $0.94 earnings per share for the quarter. The company had revenue of $57.49 million during the quarter. SandRidge Energy had a net margin of 65.11% and a return on equity of 59.78%.

Institutional Trading of SandRidge Energy

Several hedge funds have recently made changes to their positions in SD. EAM Investors LLC raised its holdings in SandRidge Energy by 1.3% in the first quarter. EAM Investors LLC now owns 91,344 shares of the oil and natural gas company’s stock valued at $1,463,000 after acquiring an additional 1,196 shares in the last quarter. KB Financial Partners LLC raised its holdings in SandRidge Energy by 4.8% in the first quarter. KB Financial Partners LLC now owns 33,582 shares of the oil and natural gas company’s stock valued at $538,000 after acquiring an additional 1,536 shares in the last quarter. Cambria Investment Management L.P. raised its holdings in SandRidge Energy by 11.3% in the second quarter. Cambria Investment Management L.P. now owns 20,405 shares of the oil and natural gas company’s stock valued at $320,000 after acquiring an additional 2,079 shares in the last quarter. Citigroup Inc. raised its holdings in SandRidge Energy by 7.8% in the first quarter. Citigroup Inc. now owns 37,875 shares of the oil and natural gas company’s stock valued at $607,000 after acquiring an additional 2,752 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in SandRidge Energy by 5.7% during the fourth quarter. Northern Trust Corp now owns 62,149 shares of the oil and natural gas company’s stock worth $650,000 after purchasing an additional 3,350 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

SandRidge Energy Company Profile

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SandRidge Energy, Inc engages in the acquisition, development, and production of oil and natural gas primarily in the United States Mid-Continent. As of December 31, 2021, it had an interest in 817.0 net producing wells; and operated approximately 368,000 net leasehold acres in Oklahoma and Kansas, as well as total estimated proved reserves of 71.3 million barrels of oil equivalent.