SandRidge Energy (NYSE:SD) Sets New 1-Year High – What’s Next?
by Danessa Lincoln · The Markets DailyShares of SandRidge Energy, Inc. (NYSE:SD – Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $16.61 and last traded at $16.3290, with a volume of 16605 shares changing hands. The stock had previously closed at $16.04.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on SD. Weiss Ratings reissued a “hold (c)” rating on shares of SandRidge Energy in a report on Monday, December 29th. Wall Street Zen upgraded shares of SandRidge Energy from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.
Check Out Our Latest Analysis on SD
SandRidge Energy Stock Performance
The firm has a market cap of $594.42 million, a PE ratio of 9.11 and a beta of 0.58. The stock’s fifty day moving average price is $14.65 and its 200-day moving average price is $12.74.
SandRidge Energy (NYSE:SD – Get Free Report) last issued its earnings results on Wednesday, November 5th. The oil and natural gas company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.10. The company had revenue of $39.82 million during the quarter, compared to analysts’ expectations of $38.80 million. SandRidge Energy had a net margin of 42.42% and a return on equity of 11.58%.
Institutional Trading of SandRidge Energy
Several large investors have recently modified their holdings of the business. Signaturefd LLC grew its holdings in SandRidge Energy by 229.3% during the 2nd quarter. Signaturefd LLC now owns 3,056 shares of the oil and natural gas company’s stock valued at $33,000 after buying an additional 2,128 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of SandRidge Energy by 2,011.6% in the second quarter. PNC Financial Services Group Inc. now owns 3,632 shares of the oil and natural gas company’s stock valued at $39,000 after acquiring an additional 3,460 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of 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 acquiring an additional 1,854 shares in the last quarter. CWM LLC boosted its stake in shares of SandRidge Energy by 2,109.1% during the second quarter. CWM LLC now owns 4,860 shares of the oil and natural gas company’s stock valued at $53,000 after acquiring an additional 4,640 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in SandRidge Energy by 391.0% during the 4th quarter. State of Alaska Department of Revenue now owns 6,604 shares of the oil and natural gas company’s stock worth $94,000 after purchasing an additional 5,259 shares in the last quarter. 61.84% of the stock is currently owned by institutional investors and hedge funds.
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.