SandRidge Energy Given Average Rating of “Hold” by Analysts (NYSE:SD)
Shares of SandRidge Energy (NYSE:SD) have been given a consensus recommendation of “Hold” by the eleven ratings firms that are presently covering the company, AnalystRatings.Net reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $6.85.
SD has been the subject of a number of recent research reports. Analysts at RBC Capital cut their price target on shares of SandRidge Energy from $7.00 to $6.00 in a research note on Tuesday, August 26th. Separately, analysts at Wunderlich cut their price target on shares of SandRidge Energy from $7.00 to $6.00 in a research note on Friday, August 8th. Finally, analysts at Barclays cut their price target on shares of SandRidge Energy from $7.00 to $6.00 in a research note on Friday, August 8th.
Shares of SandRidge Energy (NYSE:SD) opened at 5.24 on Thursday. SandRidge Energy has a 1-year low of $5.12 and a 1-year high of $7.43. The stock has a 50-day moving average of $5.78 and a 200-day moving average of $6.40. The company’s market cap is $2.543 billion. SandRidge Energy also was the recipient of a large growth in short interest in August. As of August 15th, there was short interest totalling 60,467,293 shares, a growth of 8.6% from the July 31st total of 55,677,320 shares. Approximately 14.4% of the shares of the stock are sold short. Based on an average daily volume of 13,647,679 shares, the short-interest ratio is currently 4.4 days.
SandRidge Energy (NYSE:SD) last announced its earnings results on Wednesday, August 6th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.08 earnings per share. The company’s quarterly revenue was down 27.0% on a year-over-year basis. Analysts expect that SandRidge Energy will post $0.20 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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