SandRidge Energy (NYSE:SD) Shares Pass Above 200 Day Moving Average – What’s Next?

SandRidge Energy, Inc. (NYSE:SD)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.44 and traded as high as $15.67. SandRidge Energy shares last traded at $15.6350, with a volume of 247,941 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SD. Wall Street Zen upgraded SandRidge Energy from a “hold” rating to a “buy” rating in a research note on Monday, May 25th. Weiss Ratings upgraded SandRidge Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 6th. Finally, Freedom Capital upgraded SandRidge Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

SandRidge Energy Trading Up 1.8%

The business has a 50-day moving average price of $15.31 and a 200 day moving average price of $15.44. The stock has a market cap of $577.24 million, a PE ratio of 7.63 and a beta of 0.54.

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

SandRidge Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Wednesday, May 20th were issued a dividend of $0.13 per share. This is a positive change from SandRidge Energy’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $0.52 dividend on an annualized basis and a yield of 3.3%. SandRidge Energy’s payout ratio is currently 25.37%.

Institutional Trading of SandRidge Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. Ruggaard & Associates LLC lifted its holdings in SandRidge Energy by 17.7% during the 1st quarter. Ruggaard & Associates LLC now owns 12,551 shares of the oil and natural gas company’s stock worth $205,000 after purchasing an additional 1,884 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in SandRidge Energy during the 1st quarter worth about $1,558,000. Empowered Funds LLC lifted its holdings in SandRidge Energy by 10.1% during the 1st quarter. Empowered Funds LLC now owns 136,824 shares of the oil and natural gas company’s stock worth $2,232,000 after purchasing an additional 12,560 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in SandRidge Energy by 24.1% during the 1st quarter. Quantinno Capital Management LP now owns 55,661 shares of the oil and natural gas company’s stock worth $908,000 after purchasing an additional 10,811 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of SandRidge Energy in the 1st quarter valued at about $71,000. Hedge funds and other institutional investors own 61.84% of the company’s stock.

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.