ValuEngine upgraded shares of SandRidge Energy (NYSE:SD) from a strong sell rating to a sell rating in a research report report published on Saturday morning.

SandRidge Energy stock opened at $10.20 on Friday. SandRidge Energy has a 12 month low of $8.69 and a 12 month high of $21.90. The firm has a market capitalization of $391.55 million, a price-to-earnings ratio of 14.75 and a beta of 1.15.

SandRidge Energy (NYSE:SD) last released its earnings results on Thursday, November 8th. The oil and natural gas company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.22. SandRidge Energy had a positive return on equity of 3.23% and a negative net margin of 22.94%. The business had revenue of $97.66 million for the quarter.

Several large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new stake in SandRidge Energy during the second quarter valued at $3,360,000. Strs Ohio purchased a new stake in SandRidge Energy during the second quarter valued at $170,000. Jane Street Group LLC purchased a new stake in SandRidge Energy during the second quarter valued at $247,000. Citadel Advisors LLC increased its position in SandRidge Energy by 505.5% during the second quarter. Citadel Advisors LLC now owns 176,611 shares of the oil and natural gas company’s stock valued at $3,133,000 after acquiring an additional 147,444 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in SandRidge Energy by 388.2% during the first quarter. JPMorgan Chase & Co. now owns 98,284 shares of the oil and natural gas company’s stock valued at $1,426,000 after acquiring an additional 78,154 shares during the last quarter. 16.49% of the stock is currently owned by hedge funds and other institutional investors.

About SandRidge Energy

SandRidge Energy, Inc engages in the exploration, development, and production of oil, natural gas, and natural gas liquids primarily in the Mid-Continent and North Park Basin of the United States. As of December 31, 2017, it had 2,096.8 net producing wells; approximately 643,000 net acres under lease; and two rigs drilling in the Mid-Continent and two rigs drilling in the North Park Basin, as well as total estimated proved reserves of 177.6 million barrels of oil equivalent.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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