Sei Investments Co. Sells 1,193,887 Shares of SandRidge Energy, Inc. (SD)
Sei Investments Co. reduced its stake in shares of SandRidge Energy, Inc. (NYSE:SD) by 91.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 105,246 shares of the oil and natural gas company’s stock after selling 1,193,887 shares during the period. Sei Investments Co. owned about 0.29% of SandRidge Energy worth $1,811,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in SD. Ingalls & Snyder LLC increased its stake in shares of SandRidge Energy by 4.1% in the second quarter. Ingalls & Snyder LLC now owns 15,612 shares of the oil and natural gas company’s stock valued at $269,000 after buying an additional 612 shares during the last quarter. Parkwood LLC bought a new stake in shares of SandRidge Energy during the second quarter valued at $516,000. Kirr Marbach & Co. LLC IN increased its stake in shares of SandRidge Energy by 56.9% in the second quarter. Kirr Marbach & Co. LLC IN now owns 16,955 shares of the oil and natural gas company’s stock valued at $292,000 after buying an additional 6,150 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of SandRidge Energy during the first quarter valued at $4,614,000. Finally, HighTower Advisors LLC increased its stake in shares of SandRidge Energy by 6.0% in the first quarter. HighTower Advisors LLC now owns 70,338 shares of the oil and natural gas company’s stock valued at $1,284,000 after buying an additional 4,000 shares during the last quarter. Hedge funds and other institutional investors own 63.20% of the company’s stock.
SandRidge Energy, Inc. (NYSE:SD) opened at 17.76 on Friday. The company has a market cap of $607.05 million and a P/E ratio of 1.77. SandRidge Energy, Inc. has a one year low of $15.03 and a one year high of $26.85. The company’s 50 day moving average price is $18.51 and its 200-day moving average price is $18.58.
Several brokerages have weighed in on SD. Zacks Investment Research upgraded SandRidge Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Seaport Global Securities downgraded SandRidge Energy from a “buy” rating to a “neutral” rating and set a $17.00 price objective for the company. in a research report on Wednesday, June 21st.
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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