SandRidge Energy (NYSE:SD – Get Free Report) was upgraded by investment analysts at Zacks Research to a “hold” rating in a research note issued to investors on Monday, Zacks reports.
SD has been the topic of a number of other reports. Weiss Ratings lowered SandRidge Energy from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 16th. Wall Street Zen cut SandRidge Energy from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.
SandRidge Energy Trading Up 0.4%
SandRidge Energy (NYSE:SD – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The oil and natural gas company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.18). SandRidge Energy had a return on equity of 13.62% and a net margin of 46.06%.The firm had revenue of $51.12 million for the quarter, compared to analysts’ expectations of $59.00 million. On average, research analysts expect that SandRidge Energy will post 2.13 EPS for the current fiscal year.
Hedge Funds Weigh In On SandRidge Energy
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp bought a new stake in shares of SandRidge Energy during the second quarter valued at approximately $5,191,000. Segall Bryant & Hamill LLC bought a new stake in SandRidge Energy during the 1st quarter valued at $1,558,000. First Trust Advisors LP boosted its position in 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 acquiring an additional 90,524 shares during the period. First Wilshire Securities Management Inc. grew its stake in shares of SandRidge Energy by 5.2% in the fourth quarter. First Wilshire Securities Management Inc. now owns 1,400,977 shares of the oil and natural gas company’s stock worth $20,216,000 after purchasing an additional 69,093 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its stake in shares of SandRidge Energy by 329.6% in the first quarter. Sanctuary Advisors LLC now owns 50,986 shares of the oil and natural gas company’s stock worth $832,000 after purchasing an additional 39,119 shares in the last quarter. 61.84% of the stock is currently owned by institutional investors and hedge funds.
SandRidge Energy Company Profile
SandRidge Energy, Inc is an independent oil and natural gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company acquires, develops and operates oil and gas properties, with production that includes crude oil, natural gas and natural gas liquids.
SandRidge’s operations are concentrated in the Mid-Continent region of the United States, particularly in Oklahoma and Kansas. Its activities include drilling, completing and operating wells, as well as managing the associated gathering and production infrastructure used to bring hydrocarbons to market.
Founded in 2006, SandRidge Energy has undergone significant changes in its corporate and asset structure over time.
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