SandRidge Energy Sees Significant Drop in Short Interest (SD)
SandRidge Energy (NYSE:SD) was the target of a large decrease in short interest in May. As of May 30th, there was short interest totalling 44,674,742 shares, a decrease of 12.0% from the May 15th total of 50,739,902 shares, Stock Ratings News reports. Based on an average trading volume of 8,266,985 shares, the days-to-cover ratio is currently 5.4 days. Currently, 10.7% of the company’s stock are short sold.
In other SandRidge Energy news, SVP Randall D. Cooley sold 25,000 shares of SandRidge Energy stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $6.85, for a total value of $171,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at SunTrust raised their price target on shares of SandRidge Energy from $8.00 to $9.00 in a research note on Tuesday, May 13th. They now have a “buy” rating on the stock. Separately, analysts at Robert W. Baird raised their price target on shares of SandRidge Energy from $7.00 to $8.00 in a research note on Monday, May 12th. Finally, analysts at Wunderlich reiterated a “hold” rating on shares of SandRidge Energy in a research note on Friday, May 9th. They now have a $7.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $7.28.
SandRidge Energy (NYSE:SD) opened at 7.26 on Tuesday. SandRidge Energy has a 1-year low of $4.68 and a 1-year high of $7.43. The stock has a 50-day moving average of $6.7 and a 200-day moving average of $6.36. The company’s market cap is $3.520 billion.
SandRidge Energy (NYSE:SD) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.05. The company had revenue of $443.10 million for the quarter, compared to the consensus estimate of $406.43 million. The company’s revenue for the quarter was down 13.4% on a year-over-year basis. On average, analysts predict that SandRidge Energy will post $0.19 earnings per share 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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