SandRidge Energy, Inc. (SD) Stake Boosted by Wells Fargo & Company MN
Wells Fargo & Company MN lifted its holdings in SandRidge Energy, Inc. (NYSE:SD) by 29.5% during the third quarter, HoldingsChannel.com reports. The firm owned 115,717 shares of the oil and natural gas company’s stock after purchasing an additional 26,358 shares during the period. Wells Fargo & Company MN’s holdings in SandRidge Energy were worth $2,325,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of SD. Schwab Charles Investment Management Inc. increased its stake in shares of SandRidge Energy by 144.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 99,024 shares of the oil and natural gas company’s stock worth $1,705,000 after purchasing an additional 58,556 shares during the period. First Trust Advisors LP acquired a new stake in SandRidge Energy during the second quarter worth about $371,000. Rhumbline Advisers acquired a new stake in SandRidge Energy during the second quarter worth about $735,000. Bank of New York Mellon Corp grew its position in SandRidge Energy by 853.5% during the second quarter. Bank of New York Mellon Corp now owns 164,369 shares of the oil and natural gas company’s stock worth $2,828,000 after buying an additional 147,131 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in SandRidge Energy during the second quarter worth about $152,000. Institutional investors and hedge funds own 10.12% of the company’s stock.
Shares of SandRidge Energy, Inc. (SD) opened at $21.16 on Monday. SandRidge Energy, Inc. has a 1 year low of $14.65 and a 1 year high of $22.44. The firm has a market capitalization of $754.69 and a PE ratio of 9.53. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.12 and a current ratio of 1.12.
SandRidge Energy (NYSE:SD) last released its earnings results on Wednesday, November 1st. The oil and natural gas company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.13. SandRidge Energy had a positive return on equity of 9.09% and a negative net margin of 73.96%. The business had revenue of $80.89 million for the quarter, compared to the consensus estimate of $77.60 million. analysts anticipate that SandRidge Energy, Inc. will post 1.45 EPS for the current year.
A number of research firms recently weighed in on SD. ValuEngine raised SandRidge Energy from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research raised SandRidge Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th.
In related news, SVP Philip T. Warman sold 13,351 shares of SandRidge Energy stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $21.21, for a total transaction of $283,174.71. Following the sale, the senior vice president now directly owns 50,267 shares of the company’s stock, valued at $1,066,163.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Julian Mark Bott sold 2,373 shares of SandRidge Energy stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $21.00, for a total value of $49,833.00. Following the sale, the chief financial officer now directly owns 157,641 shares in the company, valued at $3,310,461. The disclosure for this sale can be found here. Over the last three months, insiders have sold 138,527 shares of company stock worth $2,917,714. 3.60% of the stock is owned by company insiders.
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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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