Carl C. Icahn Acquires 1,257,242 Shares of SandRidge Energy, Inc. (SD) Stock
SandRidge Energy, Inc. (NYSE:SD) major shareholder Carl C. Icahn acquired 1,257,242 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were bought at an average price of $16.34 per share, for a total transaction of $20,543,334.28. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
SandRidge Energy, Inc. (NYSE:SD) opened at $17.50 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.12 and a quick ratio of 1.12. SandRidge Energy, Inc. has a 52-week low of $14.65 and a 52-week high of $24.76. The firm has a market cap of $592.77 and a P/E ratio of 7.49.
SandRidge Energy (NYSE:SD) last released its quarterly earnings results on Wednesday, November 1st. The oil and natural gas company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.13. SandRidge Energy had a negative net margin of 73.96% and a positive return on equity of 9.09%. The business had revenue of $80.89 million for the quarter, compared to the consensus estimate of $77.60 million. sell-side analysts predict that SandRidge Energy, Inc. will post 1.11 EPS for the current fiscal year.
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A number of research analysts recently weighed in on the stock. ValuEngine upgraded shares of SandRidge Energy from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research downgraded shares of SandRidge Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SD. State Street Corp raised its position in SandRidge Energy by 4,926.1% in the second quarter. State Street Corp now owns 763,964 shares of the oil and natural gas company’s stock worth $13,147,000 after acquiring an additional 748,764 shares during the period. Vanguard Group Inc. raised its position in SandRidge Energy by 84.1% in the first quarter. Vanguard Group Inc. now owns 1,042,460 shares of the oil and natural gas company’s stock worth $19,275,000 after acquiring an additional 476,198 shares during the period. Northern Trust Corp raised its position in SandRidge Energy by 844.8% in the second quarter. Northern Trust Corp now owns 372,897 shares of the oil and natural gas company’s stock worth $6,417,000 after acquiring an additional 333,428 shares during the period. Goldman Sachs Group Inc. purchased a new stake in shares of SandRidge Energy in the first quarter worth $4,614,000. Finally, Schneider Capital Management Corp increased its stake in shares of SandRidge Energy by 263.9% in the second quarter. Schneider Capital Management Corp now owns 300,634 shares of the oil and natural gas company’s stock worth $5,174,000 after purchasing an additional 218,026 shares in the last quarter. Institutional investors and hedge funds own 68.15% 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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