SandRidge Energy (NYSE:SD) Hits New 1-Year High – Here’s Why

SandRidge Energy, Inc. (NYSE:SD) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $18.45 and last traded at $17.9650, with a volume of 56243 shares changing hands. The stock had previously closed at $17.53.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SandRidge Energy in a research note on Monday, December 29th. Wall Street Zen raised shares of SandRidge Energy from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

SandRidge Energy Trading Up 1.1%

The company’s 50-day moving average is $15.53 and its 200 day moving average is $13.56. The firm has a market cap of $651.56 million, a PE ratio of 9.96 and a beta of 0.55.

Institutional Investors Weigh In On SandRidge Energy

A number of institutional investors have recently bought and sold shares of SD. PNC Financial Services Group Inc. increased its holdings in shares of SandRidge Energy by 2,011.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,632 shares of the oil and natural gas company’s stock valued at $39,000 after purchasing an additional 3,460 shares during the period. Tower Research Capital LLC TRC grew its position in SandRidge Energy by 92.8% during the second quarter. Tower Research Capital LLC TRC now owns 3,852 shares of the oil and natural gas company’s stock valued at $42,000 after purchasing an additional 1,854 shares in the last quarter. CWM LLC increased its stake in SandRidge Energy by 2,109.1% in the 2nd quarter. CWM LLC now owns 4,860 shares of the oil and natural gas company’s stock valued at $53,000 after buying an additional 4,640 shares during the period. State of Alaska Department of Revenue lifted its position in SandRidge Energy by 391.0% in the 4th quarter. State of Alaska Department of Revenue now owns 6,604 shares of the oil and natural gas company’s stock worth $94,000 after buying an additional 5,259 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of SandRidge Energy by 11.1% during the 3rd quarter. NewEdge Advisors LLC now owns 10,000 shares of the oil and natural gas company’s stock valued at $113,000 after buying an additional 1,000 shares during the period. 61.84% of the stock is currently owned by institutional investors and hedge funds.

SandRidge Energy Company Profile

SandRidge Energy, Inc (NYSE: SD) is an independent exploration and production company focused on the development of onshore oil and natural gas resources in the United States. The company concentrates its operations primarily in the Anadarko Basin, applying horizontal drilling and multi-stage hydraulic fracturing techniques to exploit unconventional reservoirs. SandRidge’s asset portfolio includes both crude oil and natural gas liquids, complemented by associated gas production, with infrastructure investments designed to optimize midstream availability and enhance capital efficiency.

Founded in 2006 by industry veteran Tom L.