SandRidge Energy Rating Reiterated by Citigroup Inc. (SD)
SandRidge Energy (NYSE:SD)‘s stock had its “neutral” rating reaffirmed by analysts at Citigroup Inc. in a research report issued to clients and investors on Thursday. They currently have a $6.10 target price on the stock, down from their previous target price of $6.40. Citigroup Inc.’s price target would suggest a potential upside of 5.90% from the company’s current price.
SandRidge Energy (NYSE:SD) traded down 9.90% on Thursday, hitting $5.19. The stock had a trading volume of 37,803,476 shares. SandRidge Energy has a 52 week low of $5.06 and a 52 week high of $7.43. The stock has a 50-day moving average of $6.58 and a 200-day moving average of $6.52. The company’s market cap is $2.516 billion. SandRidge Energy also was the target of unusually large options trading activity on Wednesday. Stock traders purchased 16,197 call options on the company. This represents an increase of 311% compared to the average daily volume of 3,940 call options.
SandRidge Energy (NYSE:SD) last announced its earnings results on Wednesday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. 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. On average, analysts predict that SandRidge Energy will post $0.23 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on SD. Analysts at Global Hunter Securities downgraded shares of SandRidge Energy from an “accumulate” rating to a “neutral” rating in a research note on Thursday. They now have a $7.00 price target on the stock, down previously from $8.00. Separately, 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. Finally, 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. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. SandRidge Energy presently has a consensus rating of “Hold” and an average price target of $7.13.
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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