SandRidge Energy (NYSE:SD) Sets New 1-Year High – Still a Buy?

Shares of SandRidge Energy, Inc. (NYSE:SD) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $13.80 and last traded at $13.7510, with a volume of 188715 shares traded. The stock had previously closed at $13.27.

Analyst Ratings Changes

Several brokerages have recently commented on SD. Wall Street Zen raised SandRidge Energy from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SandRidge Energy in a research note on Tuesday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

SandRidge Energy Price Performance

The company has a market capitalization of $504.57 million, a PE ratio of 6.73 and a beta of 0.91. The stock’s 50 day simple moving average is $11.73 and its 200-day simple moving average is $11.02.

SandRidge Energy (NYSE:SD) last announced its quarterly earnings data on Wednesday, November 5th. The oil and natural gas company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.10. The firm had revenue of $39.82 million during the quarter, compared to analysts’ expectations of $38.80 million. SandRidge Energy had a net margin of 51.77% and a return on equity of 10.05%.

SandRidge Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.5%. SandRidge Energy’s payout ratio is currently 26.97%.

Insider Buying and Selling

In other news, Director Vincent J. Intrieri acquired 25,000 shares of the company’s stock in a transaction on Monday, August 18th. The shares were bought at an average cost of $10.96 per share, with a total value of $274,000.00. Following the transaction, the director owned 46,976 shares in the company, valued at approximately $514,856.96. This trade represents a 113.76% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On SandRidge Energy

Hedge funds have recently made changes to their positions in the company. Azarias Capital Management L.P. grew its holdings in shares of SandRidge Energy by 384.2% during the second quarter. Azarias Capital Management L.P. now owns 346,070 shares of the oil and natural gas company’s stock worth $3,744,000 after buying an additional 274,594 shares during the last quarter. Nuveen LLC purchased a new position in shares of SandRidge Energy in the 1st quarter valued at about $2,932,000. Creative Planning lifted its position in shares of SandRidge Energy by 347.7% during the 2nd quarter. Creative Planning now owns 238,639 shares of the oil and natural gas company’s stock valued at $2,582,000 after acquiring an additional 185,334 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in SandRidge Energy by 69.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 268,517 shares of the oil and natural gas company’s stock worth $2,905,000 after purchasing an additional 110,322 shares in the last quarter. Finally, Royce & Associates LP grew its position in shares of SandRidge Energy by 8.6% in the first quarter. Royce & Associates LP now owns 1,188,526 shares of the oil and natural gas company’s stock valued at $13,573,000 after purchasing an additional 93,740 shares during the last quarter. Hedge funds and other institutional investors own 61.84% of the company’s stock.

SandRidge Energy Company Profile

SandRidge Energy, Inc engages in the acquisition, development, and production of oil, natural gas, and natural gas liquids in the United States Mid-Continent. The company was incorporated in 2006 and is headquartered in Oklahoma City, Oklahoma.