Raymond James & Associates Has $1.65 Million Stake in SandRidge Energy, Inc. (NYSE:SD)

Raymond James & Associates raised its holdings in SandRidge Energy, Inc. (NYSE:SD) by 99.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 120,594 shares of the oil and natural gas company’s stock after acquiring an additional 60,065 shares during the period. Raymond James & Associates’ holdings in SandRidge Energy were worth $1,649,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in shares of SandRidge Energy by 14.4% during the first quarter. JPMorgan Chase & Co. now owns 190,697 shares of the oil and natural gas company’s stock worth $3,055,000 after buying an additional 24,007 shares during the period. Bank of New York Mellon Corp boosted its position in shares of SandRidge Energy by 3.1% during the first quarter. Bank of New York Mellon Corp now owns 216,942 shares of the oil and natural gas company’s stock worth $3,475,000 after buying an additional 6,621 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of SandRidge Energy by 96.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 27,431 shares of the oil and natural gas company’s stock worth $439,000 after buying an additional 13,491 shares during the period. Citigroup Inc. boosted its position in shares of SandRidge Energy by 7.8% during the first quarter. Citigroup Inc. now owns 37,875 shares of the oil and natural gas company’s stock worth $607,000 after buying an additional 2,752 shares during the period. Finally, BlackRock Inc. boosted its position in shares of SandRidge Energy by 0.7% during the first quarter. BlackRock Inc. now owns 676,265 shares of the oil and natural gas company’s stock worth $10,834,000 after buying an additional 4,383 shares during the period. 61.84% of the stock is owned by institutional investors and hedge funds.

SandRidge Energy Stock Performance

Shares of NYSE SD opened at $14.32 on Friday. The stock has a 50 day moving average price of $13.78 and a 200 day moving average price of $14.20. SandRidge Energy, Inc. has a 52 week low of $11.51 and a 52 week high of $17.80. The stock has a market capitalization of $531.27 million, a PE ratio of 8.73 and a beta of 2.13.

SandRidge Energy (NYSE:SD) last issued its quarterly earnings results on Wednesday, March 6th. The oil and natural gas company reported $0.35 EPS for the quarter. SandRidge Energy had a return on equity of 14.50% and a net margin of 40.94%. The firm had revenue of $33.93 million during the quarter.

SandRidge Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.44 annualized dividend and a yield of 3.07%. SandRidge Energy’s dividend payout ratio (DPR) is presently 12.20%.

Analysts Set New Price Targets

Separately, TheStreet cut SandRidge Energy from a “b” rating to a “c+” rating in a research report on Wednesday, March 6th.

About SandRidge Energy

SandRidge Energy, Inc engages in the acquisition, development, and production of oil, natural gas, and natural gas liquids in the United States Mid-Continent. The company was incorporated in 2006 and is headquartered in Oklahoma City, Oklahoma.