Wall Street Zen Downgrades SandRidge Energy (NYSE:SD) to Hold

SandRidge Energy (NYSE:SD) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Several other equities analysts have also weighed in on SD. Weiss Ratings lowered SandRidge Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, July 16th. Freedom Capital raised shares of SandRidge Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 19th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, SandRidge Energy currently has a consensus rating of “Hold”.

SandRidge Energy Stock Down 0.3%

SD stock opened at $13.88 on Friday. The company has a market cap of $512.45 million, a price-to-earnings ratio of 6.77 and a beta of 0.55. The business has a fifty day simple moving average of $14.08 and a 200-day simple moving average of $15.30. SandRidge Energy has a 52 week low of $9.89 and a 52 week high of $18.45.

SandRidge Energy (NYSE:SD) last issued its earnings results on Wednesday, May 6th. The oil and natural gas company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.18. SandRidge Energy had a return on equity of 12.31% and a net margin of 46.37%.The firm had revenue of $49.78 million for the quarter, compared to analysts’ expectations of $45.00 million.

Institutional Trading of SandRidge Energy

Several large investors have recently added to or reduced their stakes in SD. Tower Research Capital LLC TRC raised its position in SandRidge Energy by 92.8% in the second quarter. Tower Research Capital LLC TRC now owns 3,852 shares of the oil and natural gas company’s stock valued at $42,000 after purchasing an additional 1,854 shares during the period. Strs Ohio purchased a new stake in shares of SandRidge Energy in the first quarter worth about $57,000. State of Wyoming purchased a new stake in shares of SandRidge Energy in the first quarter worth about $71,000. State of Alaska Department of Revenue grew its stake in shares of SandRidge Energy by 391.0% in the fourth quarter. State of Alaska Department of Revenue now owns 6,604 shares of the oil and natural gas company’s stock valued at $94,000 after buying an additional 5,259 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of SandRidge Energy by 11.1% in the third quarter. NewEdge Advisors LLC now owns 10,000 shares of the oil and natural gas company’s stock valued at $113,000 after buying an additional 1,000 shares in the last quarter. 61.84% of the stock is currently owned by institutional investors and hedge funds.

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.