SandRidge Energy (SD) Sees Large Volume Increase
SandRidge Energy, Inc. (NYSE:SD) shares saw unusually-high trading volume on Thursday . Approximately 2,309,096 shares traded hands during trading, an increase of 830% from the previous session’s volume of 248,235 shares.The stock last traded at $18.61 and had previously closed at $18.11.
SD has been the topic of several analyst reports. Zacks Investment Research upgraded shares of SandRidge Energy from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Thursday, October 26th. ValuEngine lowered shares of SandRidge Energy from a “buy” rating to a “hold” rating in a research note on Friday, September 8th.
The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $651.26 and a P/E ratio of 8.23.
In related news, major shareholder Carl C. Icahn purchased 869,184 shares of SandRidge Energy stock in a transaction on Monday, November 20th. The stock was purchased at an average cost of $16.11 per share, with a total value of $14,002,554.24. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Carl C. Icahn purchased 1,257,242 shares of SandRidge Energy stock in a transaction on Wednesday, November 22nd. The stock was bought at an average cost of $16.34 per share, with a total value of $20,543,334.28. The disclosure for this purchase can be found here. Company insiders own 3.60% of the company’s stock.
A number of institutional investors have recently modified their holdings of SD. Bank of New York Mellon Corp boosted its holdings in SandRidge Energy by 17.7% in the 1st quarter. Bank of New York Mellon Corp now owns 17,238 shares of the oil and natural gas company’s stock valued at $319,000 after purchasing an additional 2,588 shares during the period. California Public Employees Retirement System bought a new stake in SandRidge Energy in the 1st quarter valued at $209,000. Vanguard Group Inc. boosted its holdings in SandRidge Energy by 84.1% in the 1st quarter. Vanguard Group Inc. now owns 1,042,460 shares of the oil and natural gas company’s stock valued at $19,275,000 after purchasing an additional 476,198 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in SandRidge Energy by 11.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 40,468 shares of the oil and natural gas company’s stock valued at $749,000 after purchasing an additional 4,104 shares during the period. Finally, Ingalls & Snyder LLC boosted its holdings in SandRidge Energy by 4.1% in the 2nd quarter. Ingalls & Snyder LLC now owns 15,612 shares of the oil and natural gas company’s stock valued at $269,000 after purchasing an additional 612 shares during the period. 85.23% of the stock is owned by hedge funds and other institutional investors.
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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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