Jacobs Levy Equity Management Inc. Cuts Stock Holdings in SandRidge Energy, Inc. $SD

Jacobs Levy Equity Management Inc. decreased its holdings in shares of SandRidge Energy, Inc. (NYSE:SD) by 2.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 46,680 shares of the oil and natural gas company’s stock after selling 1,399 shares during the period. Jacobs Levy Equity Management Inc. owned 0.13% of SandRidge Energy worth $533,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SD. Nuveen LLC purchased a new position in SandRidge Energy during the 1st quarter valued at about $2,932,000. Nuveen Asset Management LLC increased its position in SandRidge Energy by 281.7% during the 4th quarter. Nuveen Asset Management LLC now owns 304,067 shares of the oil and natural gas company’s stock valued at $3,561,000 after purchasing an additional 224,410 shares during the period. D. E. Shaw & Co. Inc. purchased a new position in SandRidge Energy during the 4th quarter valued at about $1,248,000. Royce & Associates LP increased its position in SandRidge Energy by 8.6% during the 1st quarter. Royce & Associates LP now owns 1,188,526 shares of the oil and natural gas company’s stock valued at $13,573,000 after purchasing an additional 93,740 shares during the period. Finally, Man Group plc increased its position in SandRidge Energy by 88.9% during the 4th quarter. Man Group plc now owns 193,711 shares of the oil and natural gas company’s stock valued at $2,268,000 after purchasing an additional 91,183 shares during the period. Hedge funds and other institutional investors own 61.84% of the company’s stock.

SandRidge Energy Stock Performance

NYSE SD opened at $11.41 on Friday. The company has a market capitalization of $419.13 million, a price-to-earnings ratio of 5.59 and a beta of 0.90. The company’s 50-day simple moving average is $10.96 and its two-hundred day simple moving average is $10.67. SandRidge Energy, Inc. has a one year low of $8.81 and a one year high of $13.19.

SandRidge Energy (NYSE:SD) last posted its earnings results on Wednesday, August 6th. The oil and natural gas company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $34.53 million for the quarter, compared to the consensus estimate of $37.30 million. SandRidge Energy had a net margin of 51.77% and a return on equity of 10.05%.

SandRidge Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 22nd will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, September 22nd. This is an increase from SandRidge Energy’s previous quarterly dividend of $0.11. SandRidge Energy’s payout ratio is presently 21.57%.

Insider Activity

In other news, Director Vincent J. Intrieri acquired 25,000 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were purchased at an average price of $10.96 per share, with a total value of $274,000.00. Following the transaction, the director directly owned 46,976 shares in the company, valued at approximately $514,856.96. This represents a 113.76% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by insiders.

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.