Short Interest in SandRidge Energy, Inc. (NYSE:SD) Rises By 79.6%

SandRidge Energy, Inc. (NYSE:SDGet Rating) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,300,000 shares, an increase of 79.6% from the March 15th total of 723,900 shares. Approximately 3.6% of the shares of the stock are sold short. Based on an average trading volume of 902,200 shares, the short-interest ratio is currently 1.4 days.

Shares of NYSE:SD traded up $0.05 during midday trading on Friday, hitting $18.81. 806,970 shares of the company’s stock traded hands, compared to its average volume of 984,806. The company has a market cap of $690.33 million, a PE ratio of 5.99 and a beta of 2.70. The firm’s fifty day moving average price is $14.75 and its two-hundred day moving average price is $12.79. SandRidge Energy has a twelve month low of $3.57 and a twelve month high of $19.22.

Hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its position in shares of SandRidge Energy by 10.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,216,901 shares of the oil and natural gas company’s stock valued at $12,729,000 after buying an additional 111,565 shares during the last quarter. BlackRock Inc. lifted its stake in shares of SandRidge Energy by 8.4% in the 4th quarter. BlackRock Inc. now owns 671,882 shares of the oil and natural gas company’s stock worth $7,028,000 after acquiring an additional 51,807 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in SandRidge Energy by 176.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 645,134 shares of the oil and natural gas company’s stock valued at $6,748,000 after purchasing an additional 411,810 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in SandRidge Energy during the fourth quarter valued at approximately $5,927,000. Finally, Invesco Ltd. lifted its stake in SandRidge Energy by 33.9% during the third quarter. Invesco Ltd. now owns 558,034 shares of the oil and natural gas company’s stock valued at $7,260,000 after purchasing an additional 141,188 shares during the last quarter. Hedge funds and other institutional investors own 14.61% of the company’s stock.

Separately, StockNews.com began coverage on shares of SandRidge Energy in a research note on Thursday, March 31st. They issued a “buy” rating for the company.

About SandRidge Energy (Get Rating)

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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