SandRidge Energy (NYSE:SD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of SandRidge Energy (NYSE:SD) from a hold rating to a buy rating in a report published on Saturday,Wall Street Zen reports.

A number of other equities research analysts have also recently commented on the stock. Weiss Ratings upgraded shares of SandRidge Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Zacks Research upgraded shares of SandRidge Energy to a “hold” rating in a research report on Monday, October 5th. Three research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

SandRidge Energy Stock Down 2.0%

Shares of SD opened at $12.25 on Friday. The business has a 50-day simple moving average of $14.03 and a two-hundred day simple moving average of $14.88. SandRidge Energy has a 52 week low of $12.13 and a 52 week high of $18.45. The stock has a market cap of $454.08 million, a price-to-earnings ratio of 4.66 and a beta of 0.74.

SandRidge Energy (NYSE:SD) last posted its quarterly earnings data on Wednesday, November 4th. The oil and natural gas company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13. The firm had revenue of $54.42 million for the quarter, compared to analysts’ expectations of $49.00 million. SandRidge Energy had a return on equity of 14.98% and a net margin of 50.14%. On average, equities analysts anticipate that SandRidge Energy will post 2.13 earnings per share for the current fiscal year.

SandRidge Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Thursday, November 19th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, November 19th. This represents a $0.52 annualized dividend and a dividend yield of 4.2%. SandRidge Energy’s dividend payout ratio (DPR) is currently 19.77%.

Institutional Investors Weigh In On SandRidge Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of SandRidge Energy by 37.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,627 shares of the oil and natural gas company’s stock valued at $35,000 after purchasing an additional 713 shares in the last quarter. Lakewood Asset Management LLC lifted its position in shares of SandRidge Energy by 5.1% in the 3rd quarter. Lakewood Asset Management LLC now owns 29,424 shares of the oil and natural gas company’s stock worth $397,000 after purchasing an additional 1,426 shares during the period. Ruggaard & Associates LLC lifted its position in shares of SandRidge Energy by 17.7% in the 1st quarter. Ruggaard & Associates LLC now owns 12,551 shares of the oil and natural gas company’s stock worth $205,000 after purchasing an additional 1,884 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of SandRidge Energy during the second quarter valued at approximately $29,000. Finally, Copeland Capital Management LLC boosted its stake in shares of SandRidge Energy by 66.5% during the third quarter. Copeland Capital Management LLC now owns 6,305 shares of the oil and natural gas company’s stock valued at $85,000 after purchasing an additional 2,518 shares in the last quarter. Institutional investors own 61.84% of the company’s stock.

About SandRidge Energy

SandRidge Energy, Inc is an independent oil and natural gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on acquiring, developing and operating oil and gas properties in the Mid-Continent region of the United States.

SandRidge’s operations have historically centered on the Mississippian Lime formation, which extends across northern Oklahoma and southern Kansas. Its production portfolio includes crude oil, natural gas and natural gas liquids, supported by operated drilling, production and field-development activities.

Founded in 2006 by Tom Ward, SandRidge Energy became a publicly traded company and later completed a financial restructuring under Chapter 11 bankruptcy protection in 2016.