SandRidge Energy (NYSE:SD) Sets New 12-Month High – Here’s What Happened

SandRidge Energy, Inc. (NYSE:SD)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $14.62 and last traded at $14.2630, with a volume of 583903 shares changing hands. The stock had previously closed at $14.43.

Analyst Ratings Changes

A number of research firms recently commented on SD. Weiss Ratings reissued a “hold (c)” rating on shares of SandRidge Energy in a report on Monday. Wall Street Zen downgraded shares of SandRidge Energy from a “buy” rating to a “hold” rating in a report on Sunday. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, SandRidge Energy presently has a consensus rating of “Hold”.

SandRidge Energy Stock Performance

The firm has a market capitalization of $528.07 million, a PE ratio of 7.04 and a beta of 0.91. The company has a fifty day moving average price of $12.05 and a 200-day moving average price of $11.22.

SandRidge Energy (NYSE:SD) last announced its quarterly earnings results on Wednesday, November 5th. The oil and natural gas company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.10. The company had revenue of $39.82 million for 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 firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a $0.12 dividend. The ex-dividend date is Friday, November 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.3%. SandRidge Energy’s payout ratio is 26.97%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royce & Associates LP raised its position in SandRidge Energy by 8.6% during 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 period. Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of SandRidge Energy by 2.8% in the 1st quarter. Klein Pavlis & Peasley Financial Inc. now owns 99,790 shares of the oil and natural gas company’s stock worth $1,143,000 after purchasing an additional 2,678 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of SandRidge Energy by 0.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 259,948 shares of the oil and natural gas company’s stock valued at $2,969,000 after purchasing an additional 1,143 shares during the last quarter. Deutsche Bank AG raised its holdings in SandRidge Energy by 29.7% during the 1st quarter. Deutsche Bank AG now owns 18,259 shares of the oil and natural gas company’s stock valued at $209,000 after buying an additional 4,179 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in SandRidge Energy in the first quarter worth $154,000. 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.