Principal Financial Group Inc. Has $3.33 Million Stake in SandRidge Energy, Inc. (NYSE:SD)
Principal Financial Group Inc. boosted its stake in SandRidge Energy, Inc. (NYSE:SD) by 114.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 180,244 shares of the oil and natural gas company’s stock after buying an additional 96,039 shares during the period. Principal Financial Group Inc.’s holdings in SandRidge Energy were worth $3,333,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. UBS Asset Management Americas Inc. purchased a new position in SandRidge Energy during the fourth quarter valued at about $326,000. Kirr Marbach & Co. LLC IN purchased a new position in SandRidge Energy during the first quarter valued at about $200,000. Bank of New York Mellon Corp boosted its position in SandRidge Energy by 17.7% in the first quarter. Bank of New York Mellon Corp now owns 17,238 shares of the oil and natural gas company’s stock valued at $319,000 after buying an additional 2,588 shares in the last quarter. Trexquant Investment LP boosted its position in SandRidge Energy by 213.2% in the first quarter. Trexquant Investment LP now owns 31,643 shares of the oil and natural gas company’s stock valued at $585,000 after buying an additional 21,541 shares in the last quarter. Finally, United Services Automobile Association boosted its position in SandRidge Energy by 65.3% in the first quarter. United Services Automobile Association now owns 121,955 shares of the oil and natural gas company’s stock valued at $2,255,000 after buying an additional 48,170 shares in the last quarter. 64.43% of the stock is owned by hedge funds and other institutional investors.
SandRidge Energy, Inc. (SD) opened at 19.33 on Friday. The stock has a market capitalization of $658.69 million and a PE ratio of 4.90. The firm has a 50-day moving average of $18.04 and a 200-day moving average of $19.16. SandRidge Energy, Inc. has a one year low of $15.03 and a one year high of $26.85.
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Several research analysts recently issued reports on SD shares. Mizuho started coverage on shares of SandRidge Energy in a report on Tuesday, April 25th. They set a “buy” rating and a $25.00 price target for the company. Zacks Investment Research cut shares of SandRidge Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 26th. Finally, Seaport Global Securities cut shares of SandRidge Energy from a “buy” rating to a “neutral” rating and set a $17.00 price target for the company. in a report on Wednesday, June 21st.
SandRidge Energy Company Profile
SandRidge Energy, Inc is an oil and natural gas company. The Company is engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. It operates through two segments: exploration and production, which is engaged in the exploration and production of oil and natural gas properties and includes its proportionate share of the activities of the SandRidge Mississippian Trust I, SandRidge Mississippian Trust II and SandRidge Permian Trust (the Royalty Trusts), and midstream services, which coordinates the delivery of electricity to its exploration and production operations in the Mid-Continent.
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