Seaport Global Securities Brokers Boost Earnings Estimates for SandRidge Energy, Inc. (NYSE:SD)
SandRidge Energy, Inc. (NYSE:SD) – Investment analysts at Seaport Global Securities lifted their Q1 2018 EPS estimates for SandRidge Energy in a research note issued on Wednesday. Seaport Global Securities analyst M. Kelly now expects that the oil and natural gas company will post earnings of $0.10 per share for the quarter, up from their previous forecast of $0.09. Seaport Global Securities currently has a “Neutral” rating and a $17.00 target price on the stock.
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Several other equities research analysts also recently weighed in on SD. Mizuho initiated coverage on SandRidge Energy in a report on Tuesday, April 25th. They issued a “buy” rating and a $25.00 price objective for the company. Zacks Investment Research cut SandRidge Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 26th.
SandRidge Energy (SD) opened at 17.94 on Thursday. The stock has a market capitalization of $613.21 million and a price-to-earnings ratio of 1.79. SandRidge Energy has a 52-week low of $15.03 and a 52-week high of $26.85. The firm’s 50-day moving average is $18.34 and its 200-day moving average is $18.84.
Several large investors have recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. bought a new stake in SandRidge Energy during the fourth quarter valued at approximately $326,000. Q Global Advisors LLC bought a new stake in SandRidge Energy during the first quarter valued at approximately $8,163,000. Highbridge Capital Management LLC bought a new stake in SandRidge Energy during the first quarter valued at approximately $2,151,000. BlueCrest Capital Management Ltd bought a new stake in SandRidge Energy during the first quarter valued at approximately $536,000. Finally, Goldman Sachs Group Inc. bought a new stake in SandRidge Energy during the first quarter valued at approximately $4,614,000. Institutional investors and hedge funds own 20.88% of the company’s stock.
About SandRidge Energy
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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