SandRidge Energy (SD) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS
SandRidge Energy (NYSE:SD) released its earnings data on Wednesday. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02, AnalystRatingsNetwork reports. The company had revenue of $374.71 million for the quarter, compared to the consensus estimate of $391.90 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. The company’s revenue for the quarter was down 27.0% on a year-over-year basis.
SandRidge Energy (NYSE:SD) traded down 0.69% during mid-day trading on Wednesday, hitting $5.76. The stock had a trading volume of 13,082,878 shares. SandRidge Energy has a 52 week low of $5.06 and a 52 week high of $7.43. The stock’s 50-day moving average is $6.68 and its 200-day moving average is $6.54. The company’s market cap is $2.792 billion.
SD has been the subject of a number of recent research reports. Analysts at Barclays raised their price target on shares of SandRidge Energy from $6.00 to $7.00 in a research note on Wednesday, July 23rd. On the ratings front, analysts at Deutsche Bank reiterated a “hold” rating on shares of SandRidge Energy in a research note on Friday, July 18th. They now have a $6.00 price target on the stock, up previously from $4.00. Finally, 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. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $7.25.
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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