SandRidge Energy (NYSE:SD) Lifted to Buy at StockNews.com


SandRidge Energy (NYSE:SD – Get Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

SandRidge Energy Trading Up 6.3%

SD stock traded up $1.05 during mid-day trading on Friday, hitting $17.70. The stock had a trading volume of 1,033,958 shares, compared to its average volume of 964,368. SandRidge Energy has a 52 week low of $6.12 and a 52 week high of $29.28. The firm has a market capitalization of $650.05 million, a P/E ratio of 4.43 and a beta of 2.44. The firm has a fifty day simple moving average of $19.27 and a 200 day simple moving average of $16.98.

SandRidge Energy (NYSE:SD – Get Rating) last released its earnings results on Wednesday, May 4th. The oil and natural gas company reported $0.94 EPS for the quarter. SandRidge Energy had a net margin of 65.11% and a return on equity of 59.78%. The firm had revenue of $57.49 million for the quarter.

Institutional Investors Weigh In On SandRidge Energy

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. OLD Mission Capital LLC bought a new stake in shares of SandRidge Energy during the 4th quarter valued at approximately $207,000. Renaissance Technologies LLC grew its holdings in shares of SandRidge Energy by 88.7% during the 4th quarter. Renaissance Technologies LLC now owns 480,524 shares of the oil and natural gas company’s stock valued at $5,026,000 after purchasing an additional 225,859 shares during the last quarter. KB Financial Partners LLC bought a new stake in shares of SandRidge Energy during the 4th quarter valued at approximately $335,000. Cannon Global Investment Management LLC bought a new stake in shares of SandRidge Energy during the 1st quarter valued at approximately $668,000. Finally, 683 Capital Management LLC acquired a new stake in SandRidge Energy during the 4th quarter worth approximately $380,000. 38.96% of the stock is owned by institutional investors.

SandRidge Energy Company Profile

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SandRidge Energy, Inc engages in the acquisition, development, and production of oil and natural gas primarily in the United States Mid-Continent. As of December 31, 2021, it had an interest in 817.0 net producing wells; and operated approximately 368,000 net leasehold acres in Oklahoma and Kansas, as well as total estimated proved reserves of 71.3 million barrels of oil equivalent.

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