Investors Buy Large Volume of SandRidge Energy Put Options (SD)
Shares of SandRidge Energy (NYSE:SD) saw unusually large options trading on Friday. Stock investors purchased 42,731 put options on the company, American Banking and Market News reports. This represents an increase of approximately 322% compared to the average volume of 10,127 put options.
In other SandRidge Energy news, VP Randall Cooley sold 16,481 shares of SandRidge Energy stock on the open market in a transaction dated Friday, January 10th. The stock was sold at an average price of $5.95, for a total transaction of $98,061.95. Following the completion of the transaction, the vice president now directly owns 188,128 shares in the company, valued at approximately $1,119,362. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
SD has been the subject of a number of recent research reports. Analysts at Goldman Sachs Group Inc. reiterated a “hold” rating on shares of SandRidge Energy in a research note to investors on Wednesday, November 6th. They now have a $6.00 price target on the stock. Separately, analysts at UBS AG raised their price target on shares of SandRidge Energy from $6.00 to $6.50 in a research note to investors on Wednesday, November 6th. They now have a “neutral” rating on the stock. Finally, analysts at Wunderlich raised their price target on shares of SandRidge Energy from $5.00 to $7.00 in a research note to investors on Wednesday, October 23rd. They now have a “hold” rating on the stock. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $6.14.
SandRidge Energy (NYSE:SD) traded down 0.50% during mid-day trading on Friday, hitting $5.99. The stock had a trading volume of 11,341,270 shares. SandRidge Energy has a one year low of $4.52 and a one year high of $7.47. The stock’s 50-day moving average is $5.72 and its 200-day moving average is $5.68. The company’s market cap is $2.897 billion.
SandRidge Energy (NYSE:SD) last announced its earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.02 by $0.05. The company had revenue of $493.60 million for the quarter, compared to the consensus estimate of $448.62 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The company’s quarterly revenue was down 7.4% on a year-over-year basis. Analysts expect that SandRidge Energy will post $0.16 EPS for the current fiscal year.
SandRidge Energy, Inc is an independent oil and natural gas company. The Company is engaged in development and production activities in the Mid-Continent, Gulf of Mexico and Permian Basin in west Texas.
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