SandRidge Energy (NYSE:SD) Shares Gap Down After Earnings Miss

SandRidge Energy, Inc. (NYSE:SD)’s share price gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $18.08, but opened at $17.09. SandRidge Energy shares last traded at $17.31, with a volume of 111,879 shares.

The oil and natural gas company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). SandRidge Energy had a net margin of 44.90% and a return on equity of 11.43%. The firm had revenue of $39.40 million during the quarter, compared to analyst estimates of $43.70 million.

SandRidge Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 20th will be paid a $0.12 dividend. The ex-dividend date is Friday, March 20th. This represents a $0.48 annualized dividend and a yield of 2.8%. SandRidge Energy’s payout ratio is 25.26%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of SandRidge Energy in a research report on Monday, December 29th. Wall Street Zen upgraded SandRidge Energy from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, SandRidge Energy presently has an average rating of “Hold”.

Hedge Funds Weigh In On SandRidge Energy

Hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its position in shares of SandRidge Energy by 2,011.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,632 shares of the oil and natural gas company’s stock valued at $39,000 after buying an additional 3,460 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in SandRidge Energy by 92.8% in the second quarter. Tower Research Capital LLC TRC now owns 3,852 shares of the oil and natural gas company’s stock valued at $42,000 after acquiring an additional 1,854 shares during the last quarter. State of Alaska Department of Revenue raised its position in SandRidge Energy by 391.0% during the fourth quarter. State of Alaska Department of Revenue now owns 6,604 shares of the oil and natural gas company’s stock valued at $94,000 after purchasing an additional 5,259 shares in the last quarter. NewEdge Advisors LLC raised its position in SandRidge Energy by 11.1% during the third quarter. NewEdge Advisors LLC now owns 10,000 shares of the oil and natural gas company’s stock valued at $113,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Independent Advisor Alliance bought a new stake in SandRidge Energy during the third quarter worth $114,000. 61.84% of the stock is owned by institutional investors.

SandRidge Energy Stock Down 4.1%

The firm has a 50 day simple moving average of $15.79 and a two-hundred day simple moving average of $13.72. The stock has a market capitalization of $637.22 million, a P/E ratio of 9.12 and a beta of 0.55.

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.