SandRidge Energy (NYSE:SD) Upgraded at Zacks Research

Zacks Research upgraded shares of SandRidge Energy (NYSE:SD) to a hold rating in a research note published on Monday morning,Zacks reports.

Other research analysts have also issued reports about the company. Weiss Ratings lowered SandRidge Energy from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 16th. Wall Street Zen downgraded SandRidge Energy from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

SandRidge Energy Price Performance

SD opened at $13.69 on Monday. The company has a market cap of $507.74 million, a price-to-earnings ratio of 6.11 and a beta of 0.71. The firm has a 50 day simple moving average of $14.06 and a 200 day simple moving average of $14.51. SandRidge Energy has a fifty-two week low of $11.20 and a fifty-two week high of $18.45.

SandRidge Energy (NYSE:SD) last announced its quarterly earnings data on Wednesday, August 5th. The oil and natural gas company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.18). SandRidge Energy had a net margin of 46.06% and a return on equity of 13.62%. The business had revenue of $51.12 million during the quarter, compared to the consensus estimate of $59.00 million. As a group, analysts expect that SandRidge Energy will post 2.13 EPS for the current year.

SandRidge Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Wednesday, August 19th were issued a dividend of $0.13 per share. The ex-dividend date was Wednesday, August 19th. This represents a $0.52 dividend on an annualized basis and a yield of 3.8%. SandRidge Energy’s payout ratio is currently 23.21%.

Institutional Investors Weigh In On SandRidge Energy

Several hedge funds have recently bought and sold shares of the company. First Wilshire Securities Management Inc. boosted its position in shares of SandRidge Energy by 0.5% during the first quarter. First Wilshire Securities Management Inc. now owns 1,407,863 shares of the oil and natural gas company’s stock worth $22,962,000 after purchasing an additional 6,886 shares in the last quarter. First Trust Advisors LP increased its position in shares of SandRidge Energy by 27.5% in the 1st quarter. First Trust Advisors LP now owns 419,445 shares of the oil and natural gas company’s stock valued at $6,841,000 after buying an additional 90,524 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of SandRidge Energy in the 2nd quarter valued at $5,191,000. Empowered Funds LLC raised its stake in SandRidge Energy by 10.1% during the 1st quarter. Empowered Funds LLC now owns 136,824 shares of the oil and natural gas company’s stock worth $2,232,000 after buying an additional 12,560 shares during the period. Finally, Segall Bryant & Hamill LLC bought a new position in SandRidge Energy during the first quarter worth about $1,558,000. 61.84% of the stock is currently owned by institutional investors and hedge funds.

SandRidge Energy Company Profile

SandRidge Energy, Inc is an independent oil and natural gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company acquires, develops and operates oil and gas properties, with production that includes crude oil, natural gas and natural gas liquids.

SandRidge’s operations are concentrated in the Mid-Continent region of the United States, particularly in Oklahoma and Kansas. Its activities include drilling, completing and operating wells, as well as managing the associated gathering and production infrastructure used to bring hydrocarbons to market.

Founded in 2006, SandRidge Energy has undergone significant changes in its corporate and asset structure over time.