SandRidge Energy (NYSE:SD) Posts Quarterly Earnings Results, Beats Expectations By $0.13 EPS

SandRidge Energy (NYSE:SD) announced its quarterly earnings data on Wednesday. The oil and natural gas company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13, Zacks reports. SandRidge Energy had a net margin of 46.06% and a return on equity of 13.62%. The firm had revenue of $54.42 million for the quarter, compared to the consensus estimate of $49.00 million.

SandRidge Energy Trading Down 5.8%

SD stock traded down $0.77 during mid-day trading on Wednesday, hitting $12.61. The stock had a trading volume of 541,130 shares, compared to its average volume of 338,969. SandRidge Energy has a 1-year low of $11.96 and a 1-year high of $18.45. The company has a fifty day moving average of $14.12 and a 200 day moving average of $14.92. The stock has a market capitalization of $467.43 million, a price-to-earnings ratio of 5.63 and a beta of 0.74.

Analyst Ratings Changes

Several research analysts have weighed in on SD shares. 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 raised shares of SandRidge Energy to a “hold” rating in a research note on Monday, October 5th. Finally, Wall Street Zen cut shares of SandRidge Energy from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Three investment analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company presently has an average rating of “Hold”.

SandRidge Energy Company Profile

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.