SandRidge Energy (NYSE:SD) Downgraded to “Hold” Rating by Wall Street Zen

SandRidge Energy (NYSE:SD) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of SandRidge Energy in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

SandRidge Energy Stock Down 1.8%

Shares of NYSE SD opened at $13.71 on Monday. SandRidge Energy has a 52 week low of $8.81 and a 52 week high of $15.56. The business has a 50-day simple moving average of $14.08 and a two-hundred day simple moving average of $12.22. The company has a market cap of $504.12 million, a P/E ratio of 7.70 and a beta of 0.52.

SandRidge Energy (NYSE:SD) last announced its quarterly earnings results on Wednesday, November 5th. The oil and natural gas company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.10. SandRidge Energy had a return on equity of 11.58% and a net margin of 42.42%.The firm had revenue of $39.82 million for the quarter, compared to analysts’ expectations of $38.80 million.

Hedge Funds Weigh In On SandRidge Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. boosted its position in SandRidge Energy by 1.5% during the second quarter. Invesco Ltd. now owns 59,816 shares of the oil and natural gas company’s stock valued at $647,000 after buying an additional 907 shares during the period. NewEdge Advisors LLC lifted its stake in shares of SandRidge Energy by 11.1% in the 3rd quarter. NewEdge Advisors LLC now owns 10,000 shares of the oil and natural gas company’s stock valued at $113,000 after acquiring an additional 1,000 shares during the last quarter. AlphaQuest LLC lifted its stake in shares of SandRidge Energy by 3.7% in the 3rd quarter. AlphaQuest LLC now owns 38,802 shares of the oil and natural gas company’s stock valued at $438,000 after acquiring an additional 1,396 shares during the last quarter. Rhumbline Advisers boosted its holdings in 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 valued at $885,000 after acquiring an additional 1,421 shares during the period. Finally, Rafferty Asset Management LLC grew its position in 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 during the last quarter. 61.84% of the stock is currently owned by hedge funds and other institutional investors.

About SandRidge Energy

SandRidge Energy, Inc (NYSE: SD) is an independent exploration and production company focused on the development of onshore oil and natural gas resources in the United States. The company concentrates its operations primarily in the Anadarko Basin, applying horizontal drilling and multi-stage hydraulic fracturing techniques to exploit unconventional reservoirs. SandRidge’s asset portfolio includes both crude oil and natural gas liquids, complemented by associated gas production, with infrastructure investments designed to optimize midstream availability and enhance capital efficiency.

Founded in 2006 by industry veteran Tom L.