SandRidge Energy (NYSE:SD) Downgraded to “Hold” Rating by Wall Street Zen

SandRidge Energy (NYSE:SD) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other brokerages have also weighed in on SD. Weiss Ratings lowered SandRidge Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Freedom Capital upgraded shares of SandRidge Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 19th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, SandRidge Energy presently has an average rating of “Hold”.

SandRidge Energy Price Performance

SandRidge Energy stock opened at $13.48 on Friday. SandRidge Energy has a one year low of $9.89 and a one year high of $18.45. The firm has a market capitalization of $497.68 million, a P/E ratio of 6.58 and a beta of 0.54. The business has a fifty day moving average price of $14.84 and a 200-day moving average price of $15.42.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Federation des caisses Desjardins du Quebec lifted its holdings in shares of SandRidge Energy by 0.9% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 98,080 shares of the oil and natural gas company’s stock worth $1,415,000 after acquiring an additional 900 shares during the last quarter. Invesco Ltd. raised its position in SandRidge Energy by 1.5% in the 2nd quarter. Invesco Ltd. now owns 59,816 shares of the oil and natural gas company’s stock worth $647,000 after purchasing an additional 907 shares during the period. Sanctuary Advisors LLC lifted its stake in SandRidge Energy by 9.1% in the fourth quarter. Sanctuary Advisors LLC now owns 11,867 shares of the oil and natural gas company’s stock worth $171,000 after purchasing an additional 994 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of SandRidge Energy by 11.1% during the third quarter. NewEdge Advisors LLC now owns 10,000 shares of the oil and natural gas company’s stock valued at $113,000 after buying an additional 1,000 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in SandRidge Energy by 4.8% during the 4th quarter. Russell Investments Group Ltd. now owns 26,003 shares of the oil and natural gas company’s stock worth $375,000 after acquiring an additional 1,199 shares during the last quarter. 61.84% of the stock is owned by hedge funds and other institutional investors.

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.