SandRidge Energy Price Target Cut to $6.00 (SD)
Barclays dropped their price objective on shares of SandRidge Energy (NYSE:SD) from $7.00 to $6.00 in a research note issued on Friday. Barclays’ price target would indicate a potential upside of 13.42% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of SandRidge Energy in a research note on Thursday. They now have a $6.10 price target on the stock, down previously from $6.40. Separately, 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. 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. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. SandRidge Energy has an average rating of “Hold” and a consensus price target of $6.93.
SandRidge Energy (NYSE:SD) traded up 1.93% during mid-day trading on Friday, hitting $5.29. The stock had a trading volume of 14,760,045 shares. SandRidge Energy has a one year low of $5.06 and a one year high of $7.43. The stock’s 50-day moving average is $6.58 and its 200-day moving average is $6.52. The company’s market cap is $2.616 billion. SandRidge Energy also was the recipient of unusually large options trading activity on Wednesday. Investors bought 16,197 call options on the stock. This represents an increase of 311% compared to the typical daily volume of 3,940 call options.
SandRidge Energy (NYSE:SD) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.06 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.08 earnings per share. SandRidge Energy’s revenue was down 27.0% compared to the same quarter last year. On average, analysts predict that SandRidge Energy will post $0.22 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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