Freedom Capital Downgrades SandRidge Energy (NYSE:SD) to Strong Sell

SandRidge Energy (NYSE:SD) was downgraded by Freedom Capital from a “strong-buy” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Wall Street Zen cut SandRidge Energy from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings raised SandRidge Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold”.

SandRidge Energy Price Performance

Shares of NYSE SD opened at $16.84 on Tuesday. SandRidge Energy has a 1 year low of $8.81 and a 1 year high of $18.45. The company’s 50-day moving average is $15.95 and its 200 day moving average is $13.88. The stock has a market capitalization of $620.18 million, a P/E ratio of 8.86 and a beta of 0.55.

SandRidge Energy (NYSE:SD) last issued its quarterly earnings data on Wednesday, March 4th. The oil and natural gas company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). SandRidge Energy had a return on equity of 11.24% and a net margin of 44.90%.The company had revenue of $39.40 million during the quarter, compared to analysts’ expectations of $43.70 million.

Hedge Funds Weigh In On SandRidge Energy

Large investors have recently modified their holdings of the stock. Ruggaard & Associates LLC bought a new position in SandRidge Energy in the 4th quarter worth about $154,000. Invesco Ltd. increased its stake in SandRidge Energy by 14.5% during the 4th quarter. Invesco Ltd. now owns 93,128 shares of the oil and natural gas company’s stock valued at $1,344,000 after purchasing an additional 11,777 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in SandRidge Energy by 18.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 21,646 shares of the oil and natural gas company’s stock valued at $312,000 after purchasing an additional 3,370 shares in the last quarter. NewEdge Advisors LLC raised its holdings in SandRidge Energy by 50.0% in the fourth quarter. NewEdge Advisors LLC now owns 15,000 shares of the oil and natural gas company’s stock worth $216,000 after buying an additional 5,000 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in shares of SandRidge Energy in the fourth quarter worth approximately $345,000. Hedge funds and other institutional investors own 61.84% of the company’s stock.

SandRidge Energy Company Profile

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.