SandRidge Energy, Inc. (SD) Stake Lessened by JPMorgan Chase & Co.
JPMorgan Chase & Co. decreased its holdings in SandRidge Energy, Inc. (NYSE:SD) by 17.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 473,075 shares of the oil and natural gas company’s stock after selling 97,513 shares during the period. JPMorgan Chase & Co. owned approximately 1.32% of SandRidge Energy worth $8,142,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in SandRidge Energy by 84.1% during the 1st quarter. Vanguard Group Inc. now owns 1,042,460 shares of the oil and natural gas company’s stock worth $19,275,000 after acquiring an additional 476,198 shares during the last quarter. Nomura Holdings Inc. bought a new stake in SandRidge Energy during the 1st quarter worth $20,738,000. York Capital Management Global Advisors LLC bought a new stake in SandRidge Energy during the 1st quarter worth $18,305,000. Federated Investors Inc. PA grew its position in SandRidge Energy by 16.0% during 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. Finally, Cannell Capital LLC grew its position in SandRidge Energy by 21.9% during the 1st quarter. Cannell Capital LLC now owns 550,687 shares of the oil and natural gas company’s stock worth $10,182,000 after acquiring an additional 98,963 shares during the last quarter. Institutional investors own 17.95% of the company’s stock.
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A number of brokerages recently weighed in on SD. Zacks Investment Research lowered SandRidge Energy from a “hold” rating to a “sell” rating in a research report on Wednesday. ValuEngine lowered SandRidge Energy from a “buy” rating to a “hold” rating in a research report on Friday, September 8th. Finally, Seaport Global Securities lowered SandRidge Energy from a “buy” rating to a “neutral” rating and set a $17.00 price objective on the stock. in a research report on Wednesday, June 21st.
SandRidge Energy, Inc. (NYSE SD) opened at 20.09 on Friday. SandRidge Energy, Inc. has a one year low of $15.03 and a one year high of $26.85. The firm has a market capitalization of $686.70 million and a P/E ratio of 2.01. The firm’s 50-day moving average price is $18.09 and its 200 day moving average price is $18.39.
SandRidge Energy 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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