SandRidge Energy (NYSE:SD) Stock Moved Up to Buy by Wall Street Zen

Wall Street Zen upgraded shares of SandRidge Energy (NYSE:SD) from a hold rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Several other equities analysts have also weighed in on the stock. Weiss Ratings upgraded shares of SandRidge Energy from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Zacks Research upgraded SandRidge Energy to a “hold” rating in a report on Monday, October 5th. Three analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

SandRidge Energy Stock Down 0.9%

Shares of SD stock opened at $12.51 on Friday. The stock has a market cap of $463.87 million, a price-to-earnings ratio of 4.76 and a beta of 0.74. SandRidge Energy has a fifty-two week low of $12.45 and a fifty-two week high of $18.45. The firm’s 50 day moving average price is $14.06 and its two-hundred day moving average price is $14.89.

SandRidge Energy (NYSE:SD) last released its quarterly earnings data on Wednesday, November 4th. The oil and natural gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.13. SandRidge Energy had a net margin of 50.14% and a return on equity of 14.98%. The company had revenue of $54.42 million during the quarter, compared to the consensus estimate of $49.00 million. On average, equities analysts forecast that SandRidge Energy will post 2.13 EPS for the current fiscal year.

SandRidge Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Thursday, November 19th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $0.52 annualized dividend and a yield of 4.2%. SandRidge Energy’s payout ratio is 19.77%.

Hedge Funds Weigh In On SandRidge Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp acquired a new position in shares of SandRidge Energy during the second quarter worth $5,191,000. Pinnacle Associates Ltd. purchased a new position in shares of SandRidge Energy in the third quarter valued at $931,000. First Trust Advisors LP boosted its stake in shares of SandRidge Energy by 27.5% in the first 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 purchasing an additional 90,524 shares during the period. Segall Bryant & Hamill LLC purchased a new position in shares of SandRidge Energy in the first quarter valued at $1,558,000. Finally, Sanctuary Advisors LLC boosted its stake in shares of SandRidge Energy by 329.6% in the first quarter. Sanctuary Advisors LLC now owns 50,986 shares of the oil and natural gas company’s stock valued at $832,000 after purchasing an additional 39,119 shares during the period. Hedge funds and other institutional investors own 61.84% of the company’s stock.

About SandRidge Energy

SandRidge Energy, Inc is an independent oil and natural gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on acquiring, developing and operating oil and gas properties in the Mid-Continent region of the United States.

SandRidge’s operations have historically centered on the Mississippian Lime formation, which extends across northern Oklahoma and southern Kansas. Its production portfolio includes crude oil, natural gas and natural gas liquids, supported by operated drilling, production and field-development activities.

Founded in 2006 by Tom Ward, SandRidge Energy became a publicly traded company and later completed a financial restructuring under Chapter 11 bankruptcy protection in 2016.