SandRidge Energy (NYSE:SD) Sets New 12-Month High – Time to Buy?

SandRidge Energy, Inc. (NYSE:SD)’s share price reached a new 52-week high on Wednesday . The company traded as high as $17.50 and last traded at $17.47, with a volume of 32224 shares. The stock had previously closed at $17.00.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SD shares. Wall Street Zen raised SandRidge Energy from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of SandRidge Energy in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

SandRidge Energy Stock Performance

The company has a 50-day simple moving average of $15.23 and a two-hundred day simple moving average of $13.31. The firm has a market capitalization of $646.60 million, a P/E ratio of 9.88 and a beta of 0.58.

Hedge Funds Weigh In On SandRidge Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ruggaard & Associates LLC bought a new position in shares of SandRidge Energy during the fourth quarter valued at approximately $154,000. Invesco Ltd. grew its stake in shares of SandRidge Energy by 14.5% in the 4th quarter. Invesco Ltd. now owns 93,128 shares of the oil and natural gas company’s stock worth $1,344,000 after buying an additional 11,777 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in SandRidge Energy by 18.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 21,646 shares of the oil and natural gas company’s stock valued at $312,000 after buying an additional 3,370 shares in the last quarter. NewEdge Advisors LLC increased its position in SandRidge Energy by 50.0% during the 4th quarter. NewEdge Advisors LLC now owns 15,000 shares of the oil and natural gas company’s stock valued at $216,000 after buying an additional 5,000 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in SandRidge Energy during the fourth quarter valued at $345,000. Hedge funds and other institutional investors own 61.84% of the company’s stock.

SandRidge Energy Company Profile

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.