SandRidge Energy (SD) Upgraded at ValuEngine

SandRidge Energy (NYSE:SD) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Separately, Zacks Investment Research upgraded shares of SandRidge Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd.

SandRidge Energy (NYSE:SD) traded up $0.27 during mid-day trading on Friday, hitting $18.88. 668,730 shares of the company traded hands, compared to its average volume of 678,384. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $663.74 and a PE ratio of 8.38. SandRidge Energy has a one year low of $14.65 and a one year high of $24.76.

SandRidge Energy (NYSE:SD) last issued its quarterly earnings results on Wednesday, November 1st. The oil and natural gas company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.13. SandRidge Energy had a negative net margin of 73.96% and a positive return on equity of 9.09%. The business had revenue of $80.89 million for the quarter, compared to analysts’ expectations of $77.60 million. equities analysts anticipate that SandRidge Energy will post 1.11 earnings per share for the current fiscal year.

In other SandRidge Energy news, major shareholder Carl C. Icahn purchased 869,184 shares of SandRidge Energy stock in a transaction on Monday, November 20th. The shares were acquired at an average cost of $16.11 per share, for a total transaction of $14,002,554.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Carl C. Icahn bought 1,257,242 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was purchased at an average price of $16.34 per share, for a total transaction of $20,543,334.28. The disclosure for this purchase can be found here. 3.60% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of SD. BNP Paribas Arbitrage SA bought a new position in shares of SandRidge Energy in the second quarter worth approximately $119,000. Legal & General Group Plc bought a new position in shares of SandRidge Energy in the second quarter worth approximately $152,000. SG Americas Securities LLC bought a new position in shares of SandRidge Energy in the third quarter worth approximately $191,000. California Public Employees Retirement System bought a new position in shares of SandRidge Energy in the first quarter worth approximately $209,000. Finally, UBS Asset Management Americas Inc. grew its holdings in shares of SandRidge Energy by 28.0% in the second quarter. UBS Asset Management Americas Inc. now owns 14,645 shares of the oil and natural gas company’s stock worth $252,000 after purchasing an additional 3,200 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

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About SandRidge Energy

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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