SandRidge Energy (NYSE:SD) Raised to Buy at Wall Street Zen

SandRidge Energy (NYSE:SD) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday, Wall Street Zen reports.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings raised shares of SandRidge Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Zacks Research raised shares of SandRidge Energy to a “hold” rating in a research note on Monday, October 5th. Three analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

SandRidge Energy Stock Up 0.2%

NYSE:SD opened at $12.51 on Friday. The business’s 50-day moving average price is $14.06 and its two-hundred day moving average price is $14.89. SandRidge Energy has a twelve month low of $12.45 and a twelve month high of $18.45. The stock has a market cap of $463.81 million, a P/E ratio of 4.76 and a beta of 0.74.

SandRidge Energy (NYSE:SD) last issued its quarterly earnings results on Wednesday, November 4th. The oil and natural gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13. SandRidge Energy had a return on equity of 14.68% and a net margin of 50.14%. The firm had revenue of $54.42 million during the quarter, compared to the consensus estimate of $49.00 million. On average, equities research analysts expect that SandRidge Energy will post 2.13 EPS for the current fiscal year.

Hedge Funds Weigh In On SandRidge Energy

A number of hedge funds and other institutional investors have recently modified their holdings of SD. Integrated Wealth Concepts LLC bought a new position in shares of SandRidge Energy during the second quarter valued at about $29,000. GAMMA Investing LLC increased its holdings in shares of SandRidge Energy by 37.3% in the third quarter. GAMMA Investing LLC now owns 2,627 shares of the oil and natural gas company’s stock worth $35,000 after buying an additional 713 shares during the period. Strs Ohio purchased a new position in shares of SandRidge Energy in the first quarter worth about $57,000. State of Wyoming bought a new stake in shares of SandRidge Energy in the 1st quarter valued at about $71,000. Finally, Copeland Capital Management LLC lifted its stake in shares of SandRidge Energy by 66.5% in the 3rd quarter. Copeland Capital Management LLC now owns 6,305 shares of the oil and natural gas company’s stock valued at $85,000 after acquiring an additional 2,518 shares during the last quarter. 61.84% of the stock is currently owned by hedge funds and other institutional investors.

SandRidge Energy Company Profile

SandRidge Energy, Inc is an independent oil and natural gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on acquiring, developing and operating oil and gas properties in the Mid-Continent region of the United States.

SandRidge’s operations have historically centered on the Mississippian Lime formation, which extends across northern Oklahoma and southern Kansas. Its production portfolio includes crude oil, natural gas and natural gas liquids, supported by operated drilling, production and field-development activities.

Founded in 2006 by Tom Ward, SandRidge Energy became a publicly traded company and later completed a financial restructuring under Chapter 11 bankruptcy protection in 2016.