SandRidge Energy Raised to Buy at Stifel Nicolaus (SD)
SandRidge Energy (NYSE:SD) was upgraded by Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $6.75 price objective on the stock. Stifel Nicolaus’ target price points to a potential upside of 30.81% from the company’s current price. The analysts noted that the move was a valuation call.
Shares of SandRidge Energy (NYSE:SD) traded down 1.53% on Tuesday, hitting $5.16. 10,130,868 shares of the company’s stock traded hands. SandRidge Energy has a one year low of $5.12 and a one year high of $7.43. The stock’s 50-day moving average is $5.78 and its 200-day moving average is $6.40. The company’s market cap is $2.504 billion. SandRidge Energy also was the target of a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 60,467,293 shares, an increase of 8.6% from the July 31st total of 55,677,320 shares. Approximately 14.4% of the company’s shares are short sold. Based on an average trading volume of 13,647,679 shares, the days-to-cover ratio is currently 4.4 days.
SandRidge Energy (NYSE:SD) last posted its quarterly earnings results 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 $0.20 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $6.84.
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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