Zacks Investment Research upgraded shares of SandRidge Energy, Inc. (NYSE:SD) from a hold rating to a buy rating in a research report sent to investors on Thursday. They currently have $21.00 price objective on the oil and natural gas company’s stock.
According to Zacks, “SandRidge Energy, Inc. is an oil and natural gas company. It engaged in the development and production activities of oil and gas. The company’s operating segment consists of Exploration and Production, Drilling and Oil Field Services and Midstream Gas Services. Exploration and Production segment is engaged in the acquisition, development and production of oil and natural gas properties. Drilling and Oil Field Services segment is engaged in the contract drilling of oil and natural gas wells. Midstream Gas Services segment is engaged in the purchasing, gathering, treating and selling of natural gas. SandRidge Energy, Inc. is headquartered in Oklahoma City, OK. “
Separately, ValuEngine upgraded shares of SandRidge Energy from a hold rating to a buy rating in a report on Monday, October 2nd.
SandRidge Energy (NYSE SD) opened at 17.88 on Thursday. The company’s 50-day moving average price is $19.19 and its 200 day moving average price is $18.66. The stock has a market capitalization of $611.16 million and a PE ratio of 1.79. SandRidge Energy has a 52-week low of $15.03 and a 52-week high of $26.00.
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Hedge funds have recently modified their holdings of the company. Federated Investors Inc. PA lifted its holdings in shares of SandRidge Energy by 16.0% in the 2nd quarter. Federated Investors Inc. PA now owns 582,650 shares of the oil and natural gas company’s stock worth $10,027,000 after acquiring an additional 80,495 shares during the last quarter. Kirr Marbach & Co. LLC IN lifted its holdings in SandRidge Energy by 56.9% during the 2nd quarter. Kirr Marbach & Co. LLC IN now owns 16,955 shares of the oil and natural gas company’s stock worth $292,000 after buying an additional 6,150 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in SandRidge Energy during the 2nd quarter worth approximately $1,355,000. Goldman Sachs Group Inc. acquired a new stake in SandRidge Energy during the 1st quarter worth approximately $4,614,000. Finally, Bank of New York Mellon Corp lifted its holdings in SandRidge Energy by 853.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 164,369 shares of the oil and natural gas company’s stock worth $2,828,000 after buying an additional 147,131 shares in the last quarter. Hedge funds and other institutional investors own 73.81% of the company’s stock.
SandRidge Energy Company Profile
SandRidge Energy, Inc is an oil and natural gas company. The Company is engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. It operates through two segments: exploration and production, which is engaged in the exploration and production of oil and natural gas properties and includes its proportionate share of the activities of the SandRidge Mississippian Trust I, SandRidge Mississippian Trust II and SandRidge Permian Trust (the Royalty Trusts), and midstream services, which coordinates the delivery of electricity to its exploration and production operations in the Mid-Continent.
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