Traders Buy High Volume of Put Options on SandRidge Energy (NYSE:SD)

SandRidge Energy, Inc. (NYSE:SDGet Rating) was the recipient of unusually large options trading on Tuesday. Stock investors bought 7,540 put options on the stock. This is an increase of approximately 372% compared to the typical volume of 1,599 put options.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded SandRidge Energy from a “buy” rating to a “hold” rating in a research note on Saturday, August 13th.

Institutional Trading of SandRidge Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Prelude Capital Management LLC grew its holdings in shares of SandRidge Energy by 16.2% during the second quarter. Prelude Capital Management LLC now owns 117,218 shares of the oil and natural gas company’s stock worth $1,837,000 after purchasing an additional 16,303 shares during the last quarter. Legal & General Group Plc bought a new stake in SandRidge Energy in the second quarter valued at approximately $207,000. Walleye Capital LLC bought a new stake in SandRidge Energy in the second quarter valued at approximately $492,000. Goldman Sachs Group Inc. boosted its holdings in SandRidge Energy by 137.8% in the second quarter. Goldman Sachs Group Inc. now owns 219,179 shares of the oil and natural gas company’s stock valued at $3,435,000 after acquiring an additional 127,028 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in SandRidge Energy in the second quarter valued at approximately $52,000. 38.65% of the stock is currently owned by institutional investors.

SandRidge Energy Trading Down 0.4 %

NYSE:SD opened at $17.28 on Wednesday. The stock has a market cap of $634.90 million, a P/E ratio of 4.32 and a beta of 2.36. The stock’s 50-day moving average is $18.80 and its 200-day moving average is $18.73. SandRidge Energy has a 1-year low of $9.07 and a 1-year high of $29.28.

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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