SandRidge Energy (NYSE:SD) Given Hold (C) Rating at Weiss Ratings

Weiss Ratings restated their hold (c) rating on shares of SandRidge Energy (NYSE:SD) in a research note released on Tuesday morning,Weiss Ratings reports.

SandRidge Energy Trading Down 1.7%

Shares of SD stock opened at $11.64 on Tuesday. The business’s fifty day simple moving average is $11.47 and its 200-day simple moving average is $10.70. The company has a market cap of $427.59 million, a PE ratio of 5.70 and a beta of 0.90. SandRidge Energy has a 12-month low of $8.81 and a 12-month high of $13.00.

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

SandRidge Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 22nd were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $0.48 annualized dividend and a yield of 4.1%. This is an increase from SandRidge Energy’s previous quarterly dividend of $0.11. SandRidge Energy’s payout ratio is 23.53%.

Insiders Place Their Bets

In related news, Director Vincent J. Intrieri purchased 25,000 shares of the business’s stock in a transaction on Monday, August 18th. The shares were bought at an average cost of $10.96 per share, with a total value of $274,000.00. Following the transaction, the director owned 46,976 shares of the company’s stock, valued at approximately $514,856.96. This trade represents a 113.76% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On SandRidge Energy

Several hedge funds have recently modified their holdings of the company. Invesco Ltd. boosted its stake in shares of SandRidge Energy by 1.5% during the 2nd quarter. Invesco Ltd. now owns 59,816 shares of the oil and natural gas company’s stock worth $647,000 after acquiring an additional 907 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of SandRidge Energy by 0.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 259,948 shares of the oil and natural gas company’s stock worth $2,969,000 after acquiring an additional 1,143 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of SandRidge Energy by 1.9% during the 1st quarter. Rhumbline Advisers now owns 77,536 shares of the oil and natural gas company’s stock worth $885,000 after acquiring an additional 1,421 shares in the last quarter. Rafferty Asset Management LLC boosted its stake in shares of SandRidge Energy by 6.4% during the 2nd quarter. Rafferty Asset Management LLC now owns 25,053 shares of the oil and natural gas company’s stock worth $271,000 after acquiring an additional 1,505 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of SandRidge Energy by 92.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,852 shares of the oil and natural gas company’s stock worth $42,000 after acquiring an additional 1,854 shares in the last quarter. 61.84% of the stock is owned by hedge funds and other institutional investors.

SandRidge Energy Company Profile

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.