SandRidge Energy (NYSE:SD – Get Free Report) was upgraded by equities researchers at Freedom Broker from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Briefing.com reports. The firm presently has a $14.00 price target on the oil and natural gas company’s stock. Freedom Broker‘s price objective suggests a potential upside of 11.46% from the stock’s current price.
Several other equities research analysts also recently weighed in on SD. Wall Street Zen raised SandRidge Energy from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings upgraded shares of SandRidge Energy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Finally, Zacks Research raised shares of SandRidge Energy to a “hold” rating in a research note on Monday, October 5th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, SandRidge Energy has a consensus rating of “Hold” and a consensus target price of $14.00.
Get Our Latest Analysis on SandRidge Energy
SandRidge Energy Stock Performance
SandRidge Energy stock traded up $0.32 during mid-day trading on Tuesday, reaching $12.56. 218,084 shares of the company were exchanged, compared to its average volume of 355,688. The firm’s 50-day simple moving average is $14.03 and its two-hundred day simple moving average is $14.88. SandRidge Energy has a twelve month low of $11.95 and a twelve month high of $18.45. The firm has a market cap of $465.72 million, a PE ratio of 4.78 and a beta of 0.74.
SandRidge Energy (NYSE:SD – Get Free Report) last released its earnings results on Wednesday, November 4th. The oil and natural gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13. The business had revenue of $54.42 million for the quarter, compared to analyst estimates of $49.00 million. SandRidge Energy had a return on equity of 14.98% and a net margin of 50.14%. As a group, equities research analysts anticipate that SandRidge Energy will post 2.13 EPS for the current year.
Institutional Investors Weigh In On SandRidge Energy
A number of institutional investors have recently added to or reduced their stakes in the business. First Wilshire Securities Management Inc. increased its position in SandRidge Energy by 0.5% during the 1st quarter. First Wilshire Securities Management Inc. now owns 1,407,863 shares of the oil and natural gas company’s stock worth $22,962,000 after purchasing an additional 6,886 shares during the period. First Trust Advisors LP raised its stake in shares of SandRidge Energy by 27.5% during the 1st quarter. First Trust Advisors LP now owns 419,445 shares of the oil and natural gas company’s stock worth $6,841,000 after buying an additional 90,524 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of SandRidge Energy in the 2nd quarter valued at approximately $5,191,000. Empowered Funds LLC lifted its holdings in shares of SandRidge Energy by 10.1% in the 1st quarter. Empowered Funds LLC now owns 136,824 shares of the oil and natural gas company’s stock valued at $2,232,000 after buying an additional 12,560 shares during the period. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of SandRidge Energy in the 1st quarter valued at approximately $1,558,000. Hedge funds and other institutional investors own 61.84% of the company’s stock.
About SandRidge Energy
SandRidge Energy, Inc. is an independent oil and natural gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on acquiring, developing and operating oil and gas properties in the Mid-Continent region of the United States. SandRidge’s operations have historically centered on the Mississippian Lime formation, which extends across northern Oklahoma and southern Kansas. Its production portfolio includes crude oil, natural gas and natural gas liquids, supported by operated drilling, production and field-development activities.
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