SandRidge Energy, Inc. (NYSE:SD) Plans $0.12 Quarterly Dividend

SandRidge Energy, Inc. (NYSE:SD) announced a quarterly dividend on Wednesday, March 4th. Investors of record on Friday, March 20th will be paid a dividend of 0.12 per share by the oil and natural gas company on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, March 20th.

SandRidge Energy has a dividend payout ratio of 27.4% indicating that its dividend is sufficiently covered by earnings.

SandRidge Energy Stock Up 1.5%

Shares of NYSE SD opened at $18.10 on Thursday. The company has a market cap of $665.54 million, a P/E ratio of 10.17 and a beta of 0.55. SandRidge Energy has a 52 week low of $8.81 and a 52 week high of $18.45. The business has a 50-day simple moving average of $15.73 and a two-hundred day simple moving average of $13.69.

SandRidge Energy (NYSE:SD) last announced its quarterly earnings results on Wednesday, March 4th. The oil and natural gas company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). SandRidge Energy had a return on equity of 11.58% and a net margin of 42.42%.The firm had revenue of $39.40 million during the quarter, compared to analysts’ expectations of $43.70 million.

Hedge Funds Weigh In On SandRidge Energy

A number of large investors have recently modified their holdings of the company. Alps Advisors Inc. purchased a new position in shares of SandRidge Energy during the third quarter worth approximately $450,000. American Century Companies Inc. raised its stake in shares of SandRidge Energy by 7.0% during the second quarter. American Century Companies Inc. now owns 1,107,341 shares of the oil and natural gas company’s stock valued at $11,981,000 after acquiring an additional 72,537 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of SandRidge Energy by 138.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 32,134 shares of the oil and natural gas company’s stock worth $348,000 after purchasing an additional 18,631 shares during the period. Azarias Capital Management L.P. boosted its holdings in shares of SandRidge Energy by 39.2% during the third quarter. Azarias Capital Management L.P. now owns 481,704 shares of the oil and natural gas company’s stock worth $5,434,000 after purchasing an additional 135,634 shares during the period. Finally, First Wilshire Securities Management Inc. grew its stake in shares of SandRidge Energy by 7.3% in the second quarter. First Wilshire Securities Management Inc. now owns 1,238,581 shares of the oil and natural gas company’s stock worth $13,401,000 after purchasing an additional 83,959 shares during the last quarter. 61.84% of the stock is owned by hedge funds and other institutional investors.

About SandRidge Energy

SandRidge Energy, Inc (NYSE: SD) is an independent exploration and production company focused on the development of onshore oil and natural gas resources in the United States. The company concentrates its operations primarily in the Anadarko Basin, applying horizontal drilling and multi-stage hydraulic fracturing techniques to exploit unconventional reservoirs. SandRidge’s asset portfolio includes both crude oil and natural gas liquids, complemented by associated gas production, with infrastructure investments designed to optimize midstream availability and enhance capital efficiency.

Founded in 2006 by industry veteran Tom L.