SandRidge Energy (NYSE:SD) Earns Buy Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of SandRidge Energy (NYSE:SD – Get Rating) in a research note issued to investors on Thursday morning. The brokerage issued a buy rating on the oil and natural gas company’s stock.

SandRidge Energy Price Performance

Shares of SD stock opened at $13.85 on Thursday. The company’s fifty day simple moving average is $15.45 and its two-hundred day simple moving average is $17.37. SandRidge Energy has a 1 year low of $12.62 and a 1 year high of $29.28. The stock has a market capitalization of $510.79 million, a price-to-earnings ratio of 2.12 and a beta of 2.35.

Institutional Investors Weigh In On SandRidge Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in shares of SandRidge Energy by 14.4% during the 1st quarter. JPMorgan Chase & Co. now owns 190,697 shares of the oil and natural gas company’s stock valued at $3,055,000 after purchasing an additional 24,007 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of SandRidge Energy by 3.1% during the 1st quarter. Bank of New York Mellon Corp now owns 216,942 shares of the oil and natural gas company’s stock valued at $3,475,000 after purchasing an additional 6,621 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of SandRidge Energy by 96.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 27,431 shares of the oil and natural gas company’s stock valued at $439,000 after purchasing an additional 13,491 shares in the last quarter. Citigroup Inc. grew its position in shares of SandRidge Energy by 7.8% during the 1st quarter. Citigroup Inc. now owns 37,875 shares of the oil and natural gas company’s stock valued at $607,000 after purchasing an additional 2,752 shares in the last quarter. Finally, BlackRock Inc. grew its position in shares of SandRidge Energy by 0.7% during the 1st quarter. BlackRock Inc. now owns 676,265 shares of the oil and natural gas company’s stock valued at $10,834,000 after purchasing an additional 4,383 shares in the last quarter. Institutional investors own 17.42% of the company’s stock.

SandRidge Energy Company Profile

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SandRidge Energy, Inc engages in the exploration, development, and production of oil and natural gas. It operates in the United States Mid-Continent, and North Park Basin of Colorado. The company was founded by Noah Malone Mitchell III in 1984 and is headquartered in Oklahoma, OK.