SandRidge Energy (SD) Downgraded to “Hold” at ValuEngine

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

Several other brokerages have also weighed in on SD. Zacks Investment Research upgraded shares of SandRidge Energy from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Thursday, October 26th. Mizuho lowered shares of SandRidge Energy from a “buy” rating to a “neutral” rating and set a $25.00 target price on the stock. in a research report on Tuesday, January 16th.

Shares of SandRidge Energy (NYSE SD) traded down $0.60 during trading on Thursday, hitting $16.10. 685,791 shares of the stock traded hands, compared to its average volume of 442,940. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.12 and a current ratio of 1.12. SandRidge Energy has a 1-year low of $14.65 and a 1-year high of $21.90. The firm has a market cap of $601.68 and a price-to-earnings ratio of -1.05.

In other news, major shareholder Carl C. Icahn purchased 1,257,242 shares of SandRidge Energy stock in a transaction on Wednesday, November 22nd. The shares were purchased at an average cost of $16.34 per share, for a total transaction of $20,543,334.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Julian Mark Bott sold 2,373 shares of the business’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $21.00, for a total transaction of $49,833.00. Following the completion of the transaction, the chief financial officer now owns 157,641 shares in the company, valued at $3,310,461. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 138,527 shares of company stock worth $2,917,714. 3.60% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. First Trust Advisors LP boosted its position in SandRidge Energy by 68.7% in the fourth quarter. First Trust Advisors LP now owns 22,396,199 shares of the oil and natural gas company’s stock valued at $4,479,000 after buying an additional 9,120,781 shares in the last quarter. Akanthos Capital Management LLC boosted its position in SandRidge Energy by 2.6% in the fourth quarter. Akanthos Capital Management LLC now owns 13,750,000 shares of the oil and natural gas company’s stock valued at $2,750,000 after buying an additional 350,000 shares in the last quarter. System Two Advisors boosted its position in SandRidge Energy by 369.1% in the third quarter. System Two Advisors now owns 83,112 shares of the oil and natural gas company’s stock valued at $22,000 after buying an additional 65,394 shares in the last quarter. Morgan Stanley boosted its position in SandRidge Energy by 52.6% in the fourth quarter. Morgan Stanley now owns 6,413,566 shares of the oil and natural gas company’s stock valued at $1,283,000 after buying an additional 2,210,884 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in SandRidge Energy by 36.0% in the third quarter. Schwab Charles Investment Management Inc. now owns 134,661 shares of the oil and natural gas company’s stock valued at $2,706,000 after buying an additional 35,637 shares in the last quarter. Hedge funds and other institutional investors own 85.42% 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.

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