SandRidge Energy, Inc. (NYSE:SD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

According to Zacks, “SandRidge Energy, Inc. is an oil and natural gas company. It engaged in the development and production activities of oil and gas. The company’s operating segment consists of Exploration and Production, Drilling and Oil Field Services and Midstream Gas Services. Exploration and Production segment is engaged in the acquisition, development and production of oil and natural gas properties. Drilling and Oil Field Services segment is engaged in the contract drilling of oil and natural gas wells. Midstream Gas Services segment is engaged in the purchasing, gathering, treating and selling of natural gas. SandRidge Energy, Inc. is headquartered in Oklahoma City, OK. “

Several other brokerages also recently issued reports on SD. Mizuho started coverage on SandRidge Energy in a report on Tuesday, April 25th. They issued a “buy” rating and a $25.00 price target on the stock. Seaport Global Securities downgraded SandRidge Energy from a “buy” rating to a “neutral” rating and set a $17.00 price target on the stock. in a report on Wednesday, June 21st.

Shares of SandRidge Energy (SD) opened at 19.00 on Wednesday. The stock has a market cap of $647.44 million and a PE ratio of 4.82. SandRidge Energy has a 1-year low of $15.03 and a 1-year high of $26.85. The company’s 50-day moving average price is $18.08 and its 200 day moving average price is $19.16.

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Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in SandRidge Energy by 17.7% in the first quarter. Bank of New York Mellon Corp now owns 17,238 shares of the oil and natural gas company’s stock valued at $319,000 after buying an additional 2,588 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of SandRidge Energy by 6.0% in the first quarter. HighTower Advisors LLC now owns 70,338 shares of the oil and natural gas company’s stock valued at $1,284,000 after buying an additional 4,000 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of SandRidge Energy by 11.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 40,468 shares of the oil and natural gas company’s stock valued at $749,000 after buying an additional 4,104 shares during the period. Kirr Marbach & Co. LLC IN boosted its position in shares of SandRidge Energy by 56.9% in the second quarter. Kirr Marbach & Co. LLC IN now owns 16,955 shares of the oil and natural gas company’s stock valued at $292,000 after buying an additional 6,150 shares during the period. Finally, Trexquant Investment LP purchased a new position in shares of SandRidge Energy during the fourth quarter valued at about $238,000. Hedge funds and other institutional investors own 64.43% of the company’s stock.

SandRidge Energy Company Profile

SandRidge Energy, Inc is an oil and natural gas company. The Company is engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. It operates through two segments: exploration and production, which is engaged in the exploration and production of oil and natural gas properties and includes its proportionate share of the activities of the SandRidge Mississippian Trust I, SandRidge Mississippian Trust II and SandRidge Permian Trust (the Royalty Trusts), and midstream services, which coordinates the delivery of electricity to its exploration and production operations in the Mid-Continent.

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