SandRidge Energy (SD) Shares Down 1.3%
Shares of SandRidge Energy Inc. (NYSE:SD) dropped 1.3% during trading on Wednesday . The company traded as low as $11.48 and last traded at $11.79. Approximately 11,307 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 372,504 shares. The stock had previously closed at $11.95.
SD has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of SandRidge Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, June 6th. ValuEngine upgraded shares of SandRidge Energy from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd.
The company has a market cap of $504.49 million, a P/E ratio of 7.47 and a beta of 0.27.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cowen Inc. acquired a new stake in SandRidge Energy during the 2nd quarter valued at approximately $231,000. Jane Street Group LLC acquired a new stake in SandRidge Energy during the 2nd quarter valued at approximately $247,000. Millennium Management LLC acquired a new stake in SandRidge Energy during the 2nd quarter valued at approximately $556,000. Point72 Asset Management L.P. acquired a new stake in SandRidge Energy during the 2nd quarter valued at approximately $763,000. Finally, Cannell Capital LLC lifted its stake in SandRidge Energy by 55.9% during the 2nd quarter. Cannell Capital LLC now owns 957,427 shares of the oil and natural gas company’s stock valued at $16,985,000 after acquiring an additional 343,216 shares during the period. Institutional investors and hedge funds own 71.13% of the company’s stock.
SandRidge Energy Company Profile (NYSE:SD)
SandRidge Energy, Inc engages in the exploration, development, and production of oil, natural gas, and natural gas liquids primarily in the Mid-Continent and North Park Basin of the United States. As of December 31, 2017, it had 2,096.8 net producing wells; approximately 643,000 net acres under lease; and two rigs drilling in the Mid-Continent and two rigs drilling in the North Park Basin, as well as total estimated proved reserves of 177.6 million barrels of oil equivalent.
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