SandRidge Energy (NYSE:SD) Releases Quarterly Earnings Results

SandRidge Energy (NYSE:SD) posted its quarterly earnings results on Wednesday. The oil and natural gas company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.18), Zacks reports. The company had revenue of $51.12 million during the quarter, compared to the consensus estimate of $59.00 million. SandRidge Energy had a net margin of 46.06% and a return on equity of 13.84%.

SandRidge Energy Price Performance

Shares of NYSE SD traded up $0.20 during trading hours on Friday, hitting $13.64. 141,214 shares of the stock were exchanged, compared to its average volume of 358,724. SandRidge Energy has a one year low of $10.61 and a one year high of $18.45. The company’s 50 day moving average is $13.98 and its 200 day moving average is $15.27. The firm has a market capitalization of $503.77 million, a P/E ratio of 6.09 and a beta of 0.55.

SandRidge Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 19th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Wednesday, August 19th. SandRidge Energy’s dividend payout ratio is currently 25.37%.

Analyst Ratings Changes

Several brokerages recently weighed in on SD. Weiss Ratings lowered shares of SandRidge Energy from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 16th. Freedom Capital upgraded shares of SandRidge Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 19th. Finally, Wall Street Zen cut shares of SandRidge Energy from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, SandRidge Energy currently has an average rating of “Hold”.

Institutional Investors Weigh In On SandRidge Energy

Several hedge funds and other institutional investors have recently made changes to their positions in SD. Empowered Funds LLC lifted its position in shares of SandRidge Energy by 1.8% during the 1st quarter. Empowered Funds LLC now owns 139,197 shares of the oil and natural gas company’s stock worth $1,590,000 after purchasing an additional 2,518 shares during the last quarter. Franklin Resources Inc. grew its position in SandRidge Energy by 18.9% in the 2nd quarter. Franklin Resources Inc. now owns 21,355 shares of the oil and natural gas company’s stock worth $231,000 after purchasing an additional 3,396 shares during the last quarter. Quantbot Technologies LP grew its position in SandRidge Energy by 15.8% during the second quarter. Quantbot Technologies LP now owns 21,769 shares of the oil and natural gas company’s stock worth $236,000 after buying an additional 2,977 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in SandRidge Energy by 69.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 268,517 shares of the oil and natural gas company’s stock valued at $2,905,000 after acquiring an additional 110,322 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of SandRidge Energy by 1.5% during the 2nd quarter. Invesco Ltd. now owns 59,816 shares of the oil and natural gas company’s stock worth $647,000 after purchasing an additional 907 shares in the last quarter. 61.84% of the stock is owned by institutional investors and hedge funds.

About SandRidge Energy

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.