SandRidge Energy (NYSE:SD) Sets New 12-Month High – Here’s What Happened

SandRidge Energy, Inc. (NYSE:SD)’s share price hit a new 52-week high on Monday . The stock traded as high as $14.75 and last traded at $14.57, with a volume of 158512 shares. The stock had previously closed at $14.14.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SD shares. Wall Street Zen cut SandRidge Energy from a “buy” rating to a “hold” rating in a report on Sunday, November 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SandRidge Energy in a report on Monday, November 24th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

SandRidge Energy Trading Up 2.3%

The company has a market capitalization of $532.12 million, a PE ratio of 7.09 and a beta of 0.91. The stock’s 50-day moving average is $12.40 and its two-hundred day moving average is $11.43.

SandRidge Energy (NYSE:SD) last issued its quarterly earnings results on Wednesday, November 5th. The oil and natural gas company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.10. SandRidge Energy had a return on equity of 10.05% and a net margin of 51.77%.The firm had revenue of $39.82 million for the quarter, compared to the consensus estimate of $38.80 million.

SandRidge Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, November 14th. SandRidge Energy’s payout ratio is currently 26.97%.

Institutional Investors Weigh In On SandRidge Energy

Several large investors have recently added to or reduced their stakes in the stock. Azarias Capital Management L.P. increased its position in shares of SandRidge Energy by 384.2% during the second quarter. Azarias Capital Management L.P. now owns 346,070 shares of the oil and natural gas company’s stock worth $3,744,000 after acquiring an additional 274,594 shares during the period. Nuveen LLC purchased a new position in SandRidge Energy during the 1st quarter worth $2,932,000. Creative Planning raised its position in SandRidge Energy by 347.7% during the 2nd quarter. Creative Planning now owns 238,639 shares of the oil and natural gas company’s stock valued at $2,582,000 after purchasing an additional 185,334 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of SandRidge Energy by 6,285.2% in the 3rd quarter. Lazard Asset Management LLC now owns 130,130 shares of the oil and natural gas company’s stock worth $1,468,000 after buying an additional 128,092 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of SandRidge Energy by 69.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 268,517 shares of the oil and natural gas company’s stock worth $2,905,000 after buying an additional 110,322 shares in the last quarter. 61.84% of the stock is owned by hedge funds and other institutional investors.

About SandRidge Energy

SandRidge Energy, Inc engages in the acquisition, development, and production of oil, natural gas, and natural gas liquids in the United States Mid-Continent. The company was incorporated in 2006 and is headquartered in Oklahoma City, Oklahoma.