SandRidge Energy, Inc. to Post Q2 2017 Earnings of $0.36 Per Share, Seaport Global Securities Forecasts (SD)
SandRidge Energy, Inc. (NYSE:SD) – Seaport Global Securities boosted their Q2 2017 earnings per share (EPS) estimates for SandRidge Energy in a note issued to investors on Monday. Seaport Global Securities analyst M. Kelly now forecasts that the oil and natural gas company will post earnings of $0.36 per share for the quarter, up from their prior forecast of $0.31. Seaport Global Securities has a “Neutral” rating and a $17.00 price objective on the stock.
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Several other research firms also recently commented on SD. Zacks Investment Research upgraded shares of SandRidge Energy from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 1st. Mizuho began coverage on shares of SandRidge Energy in a research note on Tuesday, April 25th. They issued a “buy” rating and a $25.00 price target for the company.
Shares of SandRidge Energy (NYSE:SD) opened at 19.59 on Wednesday. The stock’s 50 day moving average price is $18.04 and its 200-day moving average price is $19.06. The firm has a market cap of $667.55 million and a P/E ratio of 4.97. SandRidge Energy has a 12-month low of $15.03 and a 12-month high of $26.85.
Several institutional investors have recently modified their holdings of SD. Kirr Marbach & Co. LLC IN purchased a new stake in shares of SandRidge Energy during the first quarter valued at approximately $200,000. California Public Employees Retirement System bought a new stake in SandRidge Energy during the first quarter valued at about $209,000. Laurion Capital Management LP bought a new stake in SandRidge Energy during the first quarter valued at about $309,000. Bank of New York Mellon Corp raised its stake 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. Finally, UBS Asset Management Americas Inc. bought a new stake in SandRidge Energy during the fourth quarter valued at about $326,000. Hedge funds and other institutional investors own 20.43% of the company’s stock.
About SandRidge Energy
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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