Wall Street Zen Upgrades SandRidge Energy (NYSE:SD) to Buy

SandRidge Energy (NYSE:SD) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Monday.

Several other analysts have also recently weighed in on the stock. Weiss Ratings raised shares of SandRidge Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 6th. Freedom Capital upgraded shares of SandRidge Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, SandRidge Energy presently has an average rating of “Moderate Buy”.

SandRidge Energy Price Performance

SandRidge Energy stock opened at $15.33 on Monday. The firm has a 50 day simple moving average of $15.62 and a 200-day simple moving average of $15.32. SandRidge Energy has a 1-year low of $9.52 and a 1-year high of $18.45. The stock has a market cap of $566.02 million, a price-to-earnings ratio of 7.48 and a beta of 0.56.

SandRidge Energy (NYSE:SD) last posted its quarterly earnings results on Wednesday, May 6th. The oil and natural gas company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.18. SandRidge Energy had a net margin of 46.37% and a return on equity of 12.31%. The business had revenue of $49.78 million during the quarter, compared to analysts’ expectations of $45.00 million.

Hedge Funds Weigh In On SandRidge Energy

Several large investors have recently made changes to their positions in SD. Empowered Funds LLC lifted its holdings in shares of SandRidge Energy by 1.8% in the 1st quarter. Empowered Funds LLC now owns 139,197 shares of the oil and natural gas company’s stock worth $1,590,000 after acquiring an additional 2,518 shares during the last quarter. Franklin Resources Inc. lifted its holdings in SandRidge Energy by 18.9% during the 2nd quarter. Franklin Resources Inc. now owns 21,355 shares of the oil and natural gas company’s stock worth $231,000 after buying an additional 3,396 shares in the last quarter. Quantbot Technologies LP lifted its holdings in SandRidge Energy by 15.8% during the 2nd quarter. Quantbot Technologies LP now owns 21,769 shares of the oil and natural gas company’s stock worth $236,000 after buying an additional 2,977 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in SandRidge Energy by 69.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 268,517 shares of the oil and natural gas company’s stock worth $2,905,000 after buying an additional 110,322 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in SandRidge Energy by 1.5% during the 2nd quarter. Invesco Ltd. now owns 59,816 shares of the oil and natural gas company’s stock worth $647,000 after buying an additional 907 shares in the last quarter. 61.84% of the stock is currently owned by institutional investors and hedge funds.

SandRidge Energy Company Profile

SandRidge Energy, Inc (NYSE: SD) is an independent exploration and production company focused on the development of onshore oil and natural gas resources in the United States. The company concentrates its operations primarily in the Anadarko Basin, applying horizontal drilling and multi-stage hydraulic fracturing techniques to exploit unconventional reservoirs. SandRidge’s asset portfolio includes both crude oil and natural gas liquids, complemented by associated gas production, with infrastructure investments designed to optimize midstream availability and enhance capital efficiency.

Founded in 2006 by industry veteran Tom L.