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

SandRidge Energy (NYSE:SD) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday.

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

SandRidge Energy Stock Performance

NYSE:SD opened at $13.21 on Friday. The firm has a market cap of $487.90 million, a P/E ratio of 6.45 and a beta of 0.54. SandRidge Energy has a fifty-two week low of $9.89 and a fifty-two week high of $18.45. The firm has a 50-day simple moving average of $14.71 and a two-hundred day simple moving average of $15.37.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC lifted its holdings in shares of SandRidge Energy by 92.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,852 shares of the oil and natural gas company’s stock valued at $42,000 after acquiring an additional 1,854 shares during the last quarter. Strs Ohio purchased a new stake in SandRidge Energy during the 1st quarter valued at $57,000. State of Wyoming bought a new stake in SandRidge Energy in the first quarter worth $71,000. State of Alaska Department of Revenue lifted its position in SandRidge Energy by 391.0% in the fourth quarter. State of Alaska Department of Revenue now owns 6,604 shares of the oil and natural gas company’s stock worth $94,000 after buying an additional 5,259 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in 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 worth $113,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 61.84% of the company’s stock.

About SandRidge Energy

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.